Federal Reserve Has Already Started QE3, Says Investor Jim Rogers!

• Federal Reserve has already started QE3, says investor Jim Rogers! 
  by Andrew Trotman, http://www.telegraph.co.uk/ 
  Veteran US investor Jim Rogers believes the Federal Reserve has already launched a third round of quantitative easing, despite chairman Ben Bernanke failing to mention stimulus measures in his Jackson Hole speech last week.
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  Mr Rogers, who co-founded the Quantum Fund with George Soros, believes that America’s central bank is secretly printing money to avoid “getting egg on their face again” after previous attempts to kickstart the faltering economy with $2 trillion of QE failed.
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  “I do not know if they [the Fed] will announce it,” he told India’s Economic Times. “I know they are going to print more money. They already are. If you look at their balance sheets, you will see that something is happening, assets are building on their balance sheets and they are not coming from the tooth fairy.
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  “They are a little bit embarrassed because they announced QE1 and QE2, and it did not work. So they may try to discuss it. They may just continue to do it without getting egg on their face again, but they are going to print money, they are all going to print money. It is the wrong thing to do, but that is all they know how to do.”
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  He told the Daily Telegraph: “They probably have learned how to do things off balance sheet. I have nothing to confirm this but everyone else has learned how, so they probably have too. This is just a comment on human nature.”
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  Mr Bernanke said in his annual speech at Jackson Hole on Friday that the country’s high level of unemployment – it climbed to 8.3pc in July – is a “grave concern” and that the “economic situation remains far from satisfactory”.
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