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Jim Rogers: The World's Savers Are Being Wiped Out, And History Says That Leads To Very Bad Things

Monday, March 11, 2013 - 6:47 AM
For the first time in recorded history, we have EVERY central bank printing money and trying to debase their currency. This has never happened before. To Rogers, the bigger danger that concerns him is the hollowing out of the 'saving class' resulting from this situation. Central planners' policies are punishing the prudent in favor of rescuing the irresponsible. This has happened before in world history, and the aftermath has always had grievous economic, social -- and often human -- costs.

Jim Rogers: Wiping Out The Savings Class - Business Insider
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ShorebreakShorebreak2,625 posts since
Apr 6, 2010
Rep Points: 14,226
1. Monday, March 11, 2013 - 7:45 AM
The article is focused on savers but they seem to be missing an important point.  If the dollar is truly devalued, it won't just be savers who are wiped out but a nation's entire people can be wiped out.  What happens to all of us who "rent" and don't even own a home any longer?  How do renters pay their rent?  What does everyone use for groceries, medical bills etc.  The dollar gets destroyed and everyone goes down with it.  If one owns rental property, are you going to get paid in  bananas!?  Are they just trying to trigger off a world revolution?  I would say our politicians will keep his from happening but that would be the joke of the day!

Thanks, Shorebreak.  Another morning to be cheerful about.  I don't need coffee anymore.  Just reading some of the posts on here is enough caffeine for a year for me!  I know.  Don't read.  That's not an option.  I seem to be adicted to bad news.
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paoli2paoli21,373 posts since
Aug 10, 2011
Rep Points: 6,013
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