Jim Rogers on CNBC: Abolish the Federal Reserve and Stop "Socialism for the Rich"

Interesting times bring strange bedfellows: Manuscripts Don't Burn today finds itself standing in solidarity next to straight-talking arch-capitalist Jim Rogers as he unequivocally condemns the appallingly corrupt bailout of Wall Street at the expense of the rest of us. It's clear now that the enormous capital transfer into the hands of the rich and the corporate is damaging the global economy and screwing up life for the rest of us for at least the coming decade, and we need top figures like Jim Rogers to point out the blindingly obvious - the Wall Street bailouts are not capitalism. Capitalism would let the investment banks go bankrupt, would let the recession in as the inevitable part of the economic cycle. The enormous Federal Bank bailouts we are seeing now simply postpone the recession, and exacerbate its intensity, and look like a mad scramble to bailout the rich and the incompetent with money which could otherwise be used to better effect before the shit finally hits the fan.

Strange bedfellows indeed. Manuscripts Don't Burn finds itself agreeing with Jim Rogers: abolish the Fed. Bernanke resign. Let these incompetent parasites go bankrupt. Clear out the dead wood and start with something more responsible - if these guys believe they are capitalists, then let the market deal with them. For the rest of us - the long-suffering public - give us some public banks who we can trust to look after our money.

No to corporate feudalism. No to socialism for the rich.