Jim Rogers: Bailouts 'Socialism for the rich'

http://www.youtube.com/watch?v=AwIncF3yrpQ

Interview with Jim Rogers about solutions for the looming recession. Video taken last year.

Interesting opinion. esp his remark on bailouts not being in line with capitalism but that they are 'socialism for the rich'.

[Nostalgia]

From the video:

"Inflation is not good for the world, no country has ever succeeded by debasing it's currency, that's what this man (Bernanke) is trying to do, he's trying to debase the currency as a way to revive America, it has never worked in the long term or the medium term".

If Jim Rogers knew that then surely Ben Bernanke would have known that, so what are they doing?