Wednesday, June 13, 2012

Let Spain & Greece Go Bankrupt.

Jim Rogers : New York City went bankrupt, the world didn’t come to an end. Mississippi went bankrupt once, the world hasn’t come to an end. Detroit’s bankrupt, the world hasn’t ended. So if banks in ailing Spain and Greece go bankrupt, bondholders and bankers will lose money. What happens is you reorganize and you start over. It’s been happening for a few thousand years. There’s nothing new about it. - in CNBC Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).