April 02, 2008

Jim Rogers on Helicopter Ben and the $400 billion in crap junk REIC collateral the US taxpayer is now stuck with

Like Schiff, everything Jim Rogers predicted has happened. And he is really giving it to Bernanke and the Fed something fierce right now. Hope he has good security, and isn't using hookers.

Not a lot of people are pointing out that the Fed has taken hundreds of billions of total crap collateral onto their books, with no vote of Congress or oversight, that eventually the taxpayers will eat. And they're just getting started. The MSM is failing us - again. So I hope Rogers keeps letting it rip.

Here's the latest video. Enjoy. Hattip to tmtgm for the link and transcript. Here's one highlight:

If this is a nine inning baseball game, we're in the fourth inning and we have a long way to go. Mr. Bernanke may make it last longer and longer.

Remember Mr. Bernanke has taken $400 billion onto his balance sheet - he's taken mortgages, car loans...

You know, soon, Mr. Bernanke is going to be in his helicopter, flying around collecting rent from people and collecting car payments. He's going to be selling used cars soon. This is insane.


eric in vegas said...

Get ready for the government to start sending out quarterly stimulus checks to try and prop up the economy.

Anonymous said...

Good Morning America says things are good. Everyone is happy wall street to main street.

Anonymous said...

Like I said many times before, $25,000 checks for everyone and it will be more fair instead of just trying to help the banks and FB's. Anyone over $2M net worth is exclded of course.

Anonymous said...

Which government would that be? The Chinese gov? The Dubai or Saudi gov?

The U.S. gov is broke, the banks are broke and the people are broke. Since you live in Vegas I guess that there is always cash hidden in a casino vault somewhere?

Lets hope that the U.S. gov has a hidden stash of cash somewhere.

Anonymous said...

What happened to is gold and metals. I told you they were in trouble short term Keith. And the dollar rallied just like I said too.

Short term of course.


Anonymous said...

Keith: check this out - it's great!


Anonymous said...

2008 : The Great American Default

King of the Bitter Renters

Anonymous said...

oops 'The Onion' link should be this:


sorry 'bout that. Enjoy! :-)

Lady Di said...

Love him. It is time to put Jim Rogers and Ron Paul in charge of the Fed.

SeattleMoose said...

What is the value of money any more?

They just create it on computer balance sheets and absolve massive amounts of debts with the click of a mouse.

Seems there is no accoutability at the dollar level....but God forbid we at the penny level try and get some relief!!!

Bernanke is just the "spokesmodel" for the financial mafia that run this country..

Anonymous said...

When the Fed first started collecting all this toxic crap from corrupt and incompetent Wall street firms, I thought "Oh goody, the Fed is going to drown itself into insolvency with this junk and we'll finally be rid of them for good".

Now I see that the plan all along was to pass the toxic waste onto the US taxpayer. (Thanks Paulson and Congress!)

Can you say "Looting the Treasury"?

We're all Wall Streets Bitch now. One of us is "too large to fail" and it's NOT American citizens. We can all go to hell for all Congress cares.

Cogress sat around on their asses and watched this bubble devour american citizens as it grew to hideous proportions. Now they're going to sit on their asses and watch it kill the average American on the way down as they try their sick fixes for the "too big to fail" banking system and Wall Street.

Anonymous said...

Jeez, Keith, I love when you are focused on the subject. Sharp. Great post... I hate when you take on Oil, Fox and WalMart - a sure sign of your incompetence in general business models. You somehow managed to be a free thinker and a Zombie at the same time... How is EU doing these days?