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By TERRY WEISS, Contributing Writer, Money Morning
Despite the current stock market rally, legendary investor Jim Rogers say the U.S economy is poised for a major crash and is warning investors to protect themselves immediately.
In a riveting interview on Fox Business, Rogers warned Americans not to trust any of the positive economic news coming from world governments.
“I don’t trust the data from any government, including the U.S., Rogers said. “We know that governments lie to us. Everybody’s printing money, but it cannot go on. This is all artificial.”
Rogers, who for years has been an outspoken critic of the Feds policies of “Quantitative Easing” says all the money printing is creating false hope that we are in the middle of some kind of super bull market.
But in reality, he says, “we’re living in a fool’s paradise.”
“The Bank of Japan says it’s going to print unlimited amounts of money… Then Mr. Bernanke said I’ll match that… I’ll print that money too. The Europeans are catching on. You’ve got money printing going on everywhere and that has never been good for anybody,” Rogers said.
Currently, Bernanke and company at the U.S. Fed is buying $1 trillion of Treasury and housing agency bonds each year. That’s about $85 billion per month against a budget deficit that is about the same level.
The real risk right now is an all-out 1930s-style currency war that could devastate an entire class of investors who have put their faith in the current economic dogma of endless bailouts and money printing
“It cannot go on,” Rogers warns.
Rogers believes things will really get bad after the German elections this fall
Worse than even Roger predicts, according to a new investigation.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a “frightening pattern” they believe points to a massive economic catastrophe unlike anything ever seen before.
“What this pattern represents is a dangerous countdown clock that’s quickly approaching zero,” said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.
“The resulting chaos is going to crush Americans.”
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