The Federal Reserve will probably "save the market one more time" by artificially printing money, but the next big rally will be the last before an economic day of reckoning arrives, international investor Jim Rogers told Newsmax TV.
The nation’s central bank will "buy more bonds, they'll do something and then we'll have another big rally but that's going to be the last rally," the chairman of Rogers Holdings told "Newsmax Prime."
"Maybe they can save the market one more time, but the world is starting to give up on all this artificial money printing," he said.
"It's happening in Japan, Europe, Britain and America. It's never happened before in recorded history that all the major central banks are printing a lot of money," he said.
"Printing money" (quantitative easing) is the term used to describe a central bank creating money and then injecting that into the economy. Six major central banks have openly printed money in the last decade: the United States, European, Switzerland, British, Japanese and Chinese central banks, explained Craig Harewood, investment director at OurInterest Inc.
"That's what happened back in 2008. The Federal Reserve came running to the rescue, bailed out the banks and now we're all going to have to pay the price," Rogers said.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
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