Jim Rogers: Fitch Should Have Downgraded The US 15 Years Ago

06-13-2011 • BusinessInsider.com/

Rogers said he believed U.S. should have been downgraded years ago, and Fitch was dillydallying, saying "The rating agencies have gotten it wrong for 10-15 years now. America is bankrupt. What are they talking about?" Rogers was especially critical of the way in which Ben Bernanke is running the Federal Reserve. Addressing ECB president Jean-Claude Trichet's suggestion of a possible rate hike, he said: "I hope that he will raise interest rates. I wish Mr. Trichet would be running the American central bank, at least he knows if there is inflation in the world... I wish the Indian central bank was running the American central bank, we'd all be better off." Rogers also expects QE3 by another name: "The problem is we have an election in the U.S. in 2012 and they're going to come back and start printing money again. They may call it something else but they'll come back and start printing more money. This is not good for the world, but its all they know to do."