"[Central Banks] think they are smarter than the market," exclaims billionaire investor Jim Rogers, "they are not!"

Warning CNN in this brief but disturbing reality check that "we are all going to get hurt by a global recession," Rogers takes aim at the incompetence of the "academic and bureaucrats who don't know what they are doing," raging that "this is going to be a disaster in the end."

"You Should Be Very Worried, You Should Be Prepared"

Highlights:

39:35 - Jim discusses inevitable consequences of disastrous easy-money policy from central planners is war.

40:00 - Jim discusses heightened xenophobia during difficult economic times and how it can lead to conflict.

40:57 - Jim discusses how the coexistence of a rising world power and a stagnant or in-decline world power leads to conflict.

42:26 - Jim discusses precious metals.

45:30 - Jim discusses a history of poor leadership from US Presidents will continue, money printing and currency debasement will continue, no matter who gets elected this year.

47:49 - Jim discusses coming sovereign debt crises, loss of confidence in government, and how it can lead to war.

48:35 - Jim says "read your history," politicians will continue to make things worse, capital controls will intensify, economic conditions will continue to deteriorate and war is likely.

52:05 - Jim says that by plot of pure circumstance, the USD will fall from its place as world's reserve currency. Dollar will destroy itself and a replacement will come along.

54:30 - Jim discusses potential bubble in the USD