“A lot of people are being ruined,” Rogers stated in an interview in the October issue of Futures magazine.
“Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse," he says. "We are doing this at the expense of people who save and invest. We are doing it to bail out the people who borrowed huge amounts of money. The consequences are already being felt.”
An outspoken critic of the Federal Reserve Board’s policies and of government deficit spending, Rogers was unapologetic in his oppostion to bailouts.
“We have gone in and taken the assets away from the competent people, given them to the incompetent people and said to the incompetent people, 'Now you compete with the competent people with their money,'” he says. “It’s absurd.”
In the interview, Rogers also boldly predicts that North Korea and South Korea will merge within the next five years. According to Rogers, a unified Korea will create “the most exciting country in the world for a decade or two.”
Rogers explains that the current North Korean leader has a different view of the world than his father and grandfather due to his upbringing in Switzerland. He also said the combination of cheap, educated labor in North Korea would be a boon for Eastern markets.
“If I could put all of my money in North Korea, I would,” he revealed, conceding that current laws prevent American citizens from investing in the nation today.
- Source, Futures Mag
