Jim Rogers prefaced his statements about money and liquidity with the words “They are saying…” The audibility was low at that point and I missed it the first time. Thus, he attributed those statements to others, the Fed and Treasury. I withdraw my statement that he was confused. Sorry, Jim. My critique of the content of the statements remains. The Fed and Treasury are basing hugely important and expensive policies on a misunderstanding and socialization of money and credit.
