Jim Rogers calls Ben Bernanke a clown live on TV

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Jim Rogers calls Ben Bernanke a clown live on TV

I love Jim Rogers. You always know you’re going to get it straight from the hip with him. He barely manages to hide his contempt for the cheering squad on the financial news networks. He comes on TV, obviously finishing the last of his lunch in a rushed manner, still chewing with some, no doubt, fine and expensive red wine staining his pursed lips, which are parted occasionally by the odd burp.

He launches into the ineptitude of the Fed chairman...and with good reason. Let’s look at Bernanke’s record. His analysis about the US economy during his time line at the Fed has been roughly like this...”It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s, It's fine, It's fine’s....Oh My God...give me $700bn or there will be systemic collapse! This is the worst crisis we’ve ever seen”

Now, either this guy is a complete moron, or he’s lying. Either way...he has to go.

Of course, Jim knows it's not fine. All the time Mr Bernanke has been saying that everything is fine, Mr Rogers has been telling him that A) He should go on an undergraduate Economics course, and B) It's not fine and C) You are a clown. How can you not love him?

He made a rather pertinent point to the anchor of CNBC. He asked the anchor man “If you had a pundit that came onto the program each week for the last year and got it wrong every single time, would you have that pundit on again?” Probably not.” Would you give this man your money to manage for you?” Probably not. Yet here he is...bold as brass Bernanke...managing the reserve currency for the entire globe! What is wrong with this picture? Why has this lame duck not been sacked? Answers on a post card please!

Jim (can a lowly mortal like me call him Jim...maybe I should refer to him as Mr Rogers?) went on to recommend gold, the Swiss franc, agricultural commodities and to say that he’s covered many of his short positions. He said that the bottom would come when everyone gives up looking for it...and it doesn’t look like that’s happened...not yet.