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From:Prison Planet

Veteran investor Jim Rogers warned this morning that there is a “100% chance” the world is facing a financial crisis worse than 2008, as Italy was plunged into chaos on the back of soaring bond yields which now make the country’s huge debt unsustainable, mandating yet another EU bailout.

“We’re certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn’t have for a few decades now, and it’s all coming home to roost,” Rogers, CEO and chairman Rogers Holdings told CNBC.

Rogers said the only solution was to allow countries to go bankrupt and start again, arguing that the continuing cycle of debt would only exacerbate the problem in the long term.