Outstanding clip.
This is the first time we've seen the former Fast Money analyst Macke in a long, long while though it appears from this segment that he's been working for Yahoo for a few months.
Jimmy Rogers transcribed:
"I would abolish the FED and resign. We have had three central banks in America the first two disappeared, and this one is going to disappear because between Greenspan and Bernanke have taken on a staggering amount of debt. Junk, a lot of it is junk and eventually it is just going to disappear because the U.S. is going to go bankrupt. They are not doing what's good for the world. First of all they have taken on this huge debt which you and I would have to pay and everybody watching this show. And secondly they have printed all this money. We would have problems without a central bank but it is better without a central bank than with one that is like this. We have to recognise the facts - we are the largest debtor nation in the history of the world, and until we at least face that reality and realize that we have been printing a lot of money and start to deal with that fact, it is just going to get worse."
Watch the very memorable (and bizarre) final appearance of Jeff Macke on CNBC...