Jim Rogers on Jim Grant as a Possible Fed Chairman

FM: So you wouldn’t want, for example, Jim Grant as Fed chairman?


Jim Rogers : I know Jim and I like him, but he has some ideas I don’t think would work. He’s a wonderful goldbug and has been for many years and is convinced that the gold standard would solve America’s problems. You know, the gold standard didn’t work either in the long term. They found ways to get around it. Or they just abolished it. The gold standard has its own problems too. The only way to survive is to let people decide for themselves what they want to use as money. Someone can use gold, or we find enough people who want to use seashells, or whatever. - in goldmoney


Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.