Jim Rogers: Federal Reserve is a Pawn Shop

Posted by JIm Rogers via The Daily Bail

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“The man [Bernanke] has taken $400 billion, $400 billion, onto the Federal Reserve’s balance sheets, of dicey loans at best. I mean he’s turning the Federal Reserve into a pawn shop. You have something bad, that you can’t sell, take it to the Federal Reserve, he’ll lend you treasury bills against it, or treasury bonds against it. Now someday somebody’s got to pay for that and you know who the somebody is? My little girl, you, me, I mean, it’s going to be the American taxpayer that’s going to have to pay for this…”