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Tuesday, September 11, 2012

Jim Rogers Sees Worse Recession in 2013-2014, Says Fed Already Printing More Money

The printing has started

Speaking to India's ET Now on Monday, Rogers said: "I do not know if they will announce it. I know they are going to print more money. They already are."

"If you look at their balance sheets, you will see that something is happening, assets are building on their balance sheets," he explains, adding that these "are not coming from the tooth fairy."

So, what could the Fed's reasons be for not yet announcing QE3? "Egg on their face," according to the famed investor.

"They are a little bit embarrassed because they announced QE1 and QE2, and it did not work. So they may try to discuss it. They may just continue to do it without getting egg on their face again, but they are going to print money," Rogers told ET Now. "This is all they know to do," he added. - you know it will not happen before the election

Posted via email from iPT Perpetual Traveler

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