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January 29, 2014
I have an old acquaintance named Sam who has a hell of a deal for you.
Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity.
Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return.
Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be losing some money. But don’t dwell on that too much.
And, rather than invest your funds in productive assets, Sam is going to blow it all on new cars and flat screen TVs. So when it comes time to make interest payments, Sam won’t have any money left.
But don’t worry, he still has that good ole’ credibility. So even though his financial situation gets worse by the year, Sam will just go back out there and borrow more money from other people to pay you back.
Of course, he will be able to keep doing this forever without any consequences whatsoever.
I know what you’re thinking– “where do I sign??” I know, right? It’s the deal of the lifetime.
This is basically the offer that the President of the United States floated last night.
And like an unctuously overgeled used car salesman, he actually pitched Americans on loaning their retirement savings to the US government with a straight face, guaranteeing “a decent return with no risk of losing what you put in. . .”
This is his new “MyRA” program. And the aim is simple– dupe unwitting Americans to plow their retirement savings into the US government’s shrinking coffers.
We’ve been talking about this for years. I have personally written since 2009 that the US government would one day push US citizens into the ‘safety and security’ of US Treasuries.
Back in 2009, almost everyone else thought I was nuts for even suggesting something so sacrilegious about the US government and financial system.
But the day has arrived. And POTUS stated almost VERBATIM what I have been writing for years.
The government is flat broke. Even by their own assessment, the US government’s “net worth” is NEGATIVE 16 trillion. That’s as of the end of 2012 (the 2013 numbers aren’t out yet). But the trend is actually worsening.
In 2009, the government’s net worth was negative $11.45 trillion. By 2010, it had dropped to minus $13.47 trillion. By 2011, minus $14.78 trillion. And by 2012, minus $16.1 trillion.
Here’s the thing: according to the IRS, there is well over $5 trillion in US individual retirement accounts. For a government as bankrupt as Uncle Sam is, $5 trillion is irresistible.
They need that money. They need YOUR money. And this MyRA program is the critical first step to corralling your hard earned retirement funds.
At our event here in Chile last year, Jim Rogers nailed this right on the head when he and Ron Paul told our audience that the government would try to take your retirement funds:
I don’t know how much more clear I can be: this is happening. This is exactly what bankrupt governments do. And it’s time to give serious, serious consideration to shipping your retirement funds overseas before they take yours.
(Note to members of our PREMIUM service: look for an upcoming actionable alert on this topic).
With Bernanke’s term due to expire in January, Jim Rogers warns Mineweb that the Fed-head will be remembered as “the guy who set the stage for the demise of the Central Bank in America. We’ve had three central banks in America. The first two disappeared. This one’s going to disappear too in the next decade.” With precious metals, bonds, and stock markets obsessing over Fed actions, Rogers says, in the next 10 years or so, “People will realise that these guys have led us down a terrible path,” and collapse is “not a possibility,” he adds, “it’s a probability.”
“100 years ago you could not have named the head of most central banks in the world,” Rogers told Mineweb. “Now they’re all rockstars.” Gold and equity markets have increasingly been locked in Fed-watch mode in 2013, obsessing over when or whether chairman Ben Bernanke would taper the bank’s vast bond buying scheme.
Rogers however, an ardent free-marketeer, says the market’s narrow focus on the Fed reflects the bank’s rising and now extreme interference in global markets, propelling the likes of Bernanke in the US and Mario Draghi in Europe to near household name status.
“Everybody knows them,” he says, “but that’s only a phenomenon of the last 20 years, when central banks have been pumping money into the markets and everybody’s singing hallelujah.”
With Bernanke’s term due to expire in January, Rogers says he will be remembered as “the guy who set the stage for the demise of the Central Bank in America. We’ve had three central banks in America. The first two disappeared. This one’s going to disappear too in the next decade.”
“It’s not a possibility,” he adds, “it’s a probability. People will realise that these guys have led us down a terrible path. The Fed balance sheet has increased by 500 per cent in the last 5 years and a lot of it’s garbage.”
Unlike the wider market, Rogers does not set great store by the Fed’s decision shortly before Christmas to taper its bond buying measures from $85bn per month to $75bn. The announcement put pressure on gold and drove US equities to a new all-time high, in what Rogers views as a relief rally.
“The US went up because people said, ‘Now it’s done, we don’t have to worry anymore.’ But somewhere along the line, markets are going to start suffering. They’ll taper until the markets start hurting and then they’ll panic and loosen up again. They’ve got themselves in a terrible box.”
“It’ll turn into a bubble or a very inflated situation, but eventually the markets will say, we’re not going to take your garbage anymore, whether it’s treasury bonds or currency.” Inflation, Rogers says, has only been kept in check in the US by the country’s shale gas discovery, putting a “dampener” on energy prices.
Whist Rogers views mass money printing as untenable, in the short term, he expects equities to turn parabolic, rather than collapse.
“The Japanese Central Bank has said that it will print unlimited amounts of money,” he says. “That’s their word and they’re doing it. When people look back 20 years from now they’ll say that’s what killed Japan, but in the meantime, all the staggering, unlimited amounts of money have got to go somewhere and it’s going to go into Japanese shares.”
Rogers prefers gold over gold mining shares and divisible coins over bullion, but says “there’s nothing in precious metals that I’m tempted to buy at the moment.”Indian import tariffs he views as the single biggest drag on the gold market currently.
“They’ve got a huge balance of trade deficit and the three largest parts are oil, gold and cooking oil. They cannot do anything about oil or cooking oil, so they’re attacking gold, blaming their problems on gold. Gold has not caused their problems, gold is a symptom of their problems, but politicians are pretty simple-minded people and they look for the easy answer.”
For early 2014, Rogers is therefore long inflatable equities and neutral on gold, but longer term, he expects to short junk and government bonds and is ultra bullish on gold. “Gold will become one of the only refuges around,” he says.
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Anyone have an application they recommend for a one-time-pad cypher they like?
Surely the best news of 2014. Tomorrow isn’t soon enough. I wonder what the Powers that Be have in mind now? Bar codes on the forehead or microchips?
adventure Lost count how many times I have sung the praises of the Indian people for owning gold. Not long ago I had a business meeting with a fellow from India, he lamented stories of how families will sell their gold when tough times arise and went into detail about the workings of their system. Banks hate not holding your money ALL of the time……..makes them scheme all the more. If Amerikans would sniff the coffee and store wealth in gold, we could tell the banksters to fuck off.
My mother taught me the importance of gold in times of crisis in India, when she had to mortage her jewelery for an important family need. The banks wouldnt take our home as a guarantee when all we wanted was 2k USD – but took my mothers gold. Thank you Zerohedge community for sharing so many amazing educational essays / artciles and the comments from the community to make people aware of the REALITY.
Jim Cramer – 2007
Credit creation is not a substitute for declining employment and resources. This is going to be a long trend.
“Everybody knows them,”
Everybody hates them and wants to see them do prison time for their crimes.
I like Jim Rogers for running on a tread mill.
I’m back up to over 8 miles non-stop at the beach. Thanks to my pre-Obamacare medical treatment. Got that taken care of just in the nick of time.
Lots of pilot whales out there today.
Question: Is the Fed operating illegally without a charter? How far would we get trying to operate a bank here in the USSA without a charter?
Why do you guys always talk about “LEGAL”,
The MILITARY is exempt from all CIVILIAN LAW, they have their own courts, the NSA has been off-budget running a black-budget for years, and post 1970’s they too, got unlimited FIAT (USD).
LEGAL don’t have a fucking to do with anything post 1970’s.
Might makes Right, the USA is backed by a GUN (nuke), that’s all you need to rule the world is FEAR.
Mr Rogers offers the world a sanitized feel-good, bring back the old day grandpa approach to viewing reality, perhaps this is why MSM brings Mr. Magoo to the BOOB-TUBE?
The major banking families wrote the Fed’s charter in 1913.
Nodebt I know the history. The charter ended in December, so is it illegal for them to operate past that time?
Be careful with the word ‘illegal’. If you can substitute the word ‘unconstitutional’ you’re on firmer footing. And in that respect, I’m not sure if it EVER was. So why would the expiration of a charter make it more or less so?
Rogers has been saying this daily since the 1970’s and it hasn’t happened ( death of FED ), someday of course Rogers will be right, but Rogers will be long dead.
Here’s what is going to happen next.
The NSA is going to admit there was a COUP back in 1950, that the USA has been operating by special Military Power ever since Eisenhower.
That the NSA will now take over the FED’s job of creating FIAT, aka USD.
The FED will remain, but it will be just a bunch of friendly faces (Yellen in a Thong ), but the real USD, and the real budgets in the USA will be decided by the NSA (MIL).
The USA will continue too, but only as a dog and pony show, and the courts, they can fuck the civilians to death, as MIL has their own courts.
This is the new world order, and yep you’ll get Hillary Clinton president, and she can fuck with the civilians all she wants, and the MIL don’t give a shit, as long as they can control the world.
Wow all the RED, I love Rogers, … so it can’t be that, … I said the USA is operating under SPECIAL MILITARY Powers, .. yep going back to JFK years, I thought everybody knew this?
So why the RED?
The NSA has been unbridled for 70 years, and now rules the world, is this news to you? Not to me I was there all along for the ride.
Truth hurts? You have to deal with reality, and if you want to be ‘free’ get the fuck out of the USA. Pure and Fucking Simple.
“…Rogers will be long dead.” You assume he will soon die. And you assume Zero Hedgers and their kindered spirits will do nothing. You are full of shit.
Rogers is over 70, he is NOT immortal, unlike you.
I have already said,… the US army delta force was murdered when they stood up and objected ( 1990’s post WACO), and in recent years the Navy Seals (2012+) were murdered when they spoke up.
Now you tell me that the virtual keyboard army aka ZH is going to accomplish what DELTA&SEAL failed? To restore America?
I think not.
The USA is the BOILED-FROG the MIL took over in the 1950’s, its now 60+ years complete, there is no returning to a civilian government in the USA.
Denial, or imagining uptopia will never help you, nor will BTC.
The world is full of benevolent country’s that have said FUCK-YOU to the USA HEGEMONY, find one and enjoy life.
I like how the most common argument against collapse is that “people have been thinking this for 40 years”. Well, some people are ahead of their time.
Also, I am not sure Rogers has been one of those until lately.
Soul Glow, I have been reading your stuff, you are one of the few humans here, not a bot, and not a troll.
Please define ‘collapse’,
IMHO the collapse happened in the 1970’s, when they took the USD off of gold, after that the USA went full retard MILITARY, and the rest is history. ‘Collapse’ in all of history is slow motion, civilization to ghost-town,
The USD started its decline in the 1980’s, and then for 30 years everything that could be stolen ( tangibles ) were stolen, now nothing is left to steal in the USA.
Rogers is invited to come on TV and he likes to talk, and ‘collapse’ sadly sell’s, is it probable FUCK-NO, but it all depends what ‘collapse’ means to you.
I’ll define collapse, If my family has no food to eat, the world has collapsed, if my neighbor has no food, then ALARM bells go off.
All human suffering is relative, even during the great depression while +20% were hungry, the other 80% were fat and happy.
COLLAPSE is situational, in no way will everyone suffer, the only people who will suffer is those in the USA that are not prepared,
If you are a student of Rogers or Faber, then you would know they both advocate leaving the civil war, before the shooting starts.
NOW your turn, define ‘collapse’.
Presumably you are posting from Colorado.
You got a problem with Colorado comrade??
He said he left the country in a post above this one, so…yeah.
Apparently nuance isn’t your strong suit.
It’s time to re-coin our own fiat currency. Let the multi-national bag holders drown in their own debt obligations.
Absolutely not. It’s .gov that’s going under the bus, not the Fed. Hell, the Fed even has their own troops now and regional offices all over the country. They ain’t going anywhere.
Funny you guys LOVE Rogers, but he lives in Singapore, and never sets foot in the USA.
You guy’s say that people who have left the USA should shut their mouth, but you worship every word from Rogers?
I love Rogers, he like myself voted with our feet long ago, and Rogers say’s “LEARN TO SPEAK CHINESE”, … I taught myself Chinese some 30+ years ago,
Everything Rogers says is true, but if anybody else but Rogers say’s it, h is an idiot. Why is that?
This article is Bullshit, the NSA/CIA rules the world, and they control the FIAT-USD and always have created all they want, that’s why there were able to dump ‘containers’ of $100 bills in IRAQ to BUY friends,
The US-MIL (NSA) run’s America.
The civilian government gets to FUCK the people, and me and Rogers don’t like to be fucked, so we left the USA.
If any of you were smart, you would do the same.
No thanks. I’d rather fight the battle on my home turf. All those American-friendly places may prove to be decidedly less so if the dollar collapses, and the world economy along with it. Here’s hoping you’ve laid roots deep enough where you are now to make it though a situation like that.
All major “developed” economies are in roughly the same predicament. When it gets time for the dollar to take an ass-whipping, they all will. ALL of them.
Paradigm shift to true value is what’s occuring.
BTC real value? I have a virtual bridge to sell you.
Perhaps in Asia people have always respected only GOLD in the hand, nobody on in ASIA buy’s paper-gold (ETF/ETN), but the USA is clearly heading into a virtual 24/7, …
I would say just the opposite, that the USA has permanently left the tangibile to the intangible.
YES, oh YES
Oh Brilliant Yes, oh …..
“It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.”
Ben shalom bernank
Can we have a revolution now, I’m getting sleepy.
Unprecedented Total Chinese Gold Demand 2013
Over 2500 tons!!!
58579 55195 66517 85251 31629 80649 7355 4534 72302 74504 75324 27474 72418 12004 67076 93764 8567 4037 89362 67106 90403 29322 53954 9516 35602 95115 30523 74772 42842 24024 12293 54435 92544 73332 74618 66121 58115 26171 54272 48043 1562 39763 31240 96242 45193 98740 3122 20348 89430 78604 52528 74011 38930 89514 80026 73627 28187 4988 34666 50471 53045 23413 11808 27691 16317 56145 68542 42731 76872 65946 94391 30076 56688 10638 27713 60975 97658 39042 60162 31115 95430 49336 74791 83874 37476 772 21734 64311 26061 75900 41938 83573 91615 63292 59295 70689 54300 1997 81024 83847 65481 20791 89007 69637 14154 7504 99722 27094 27919 22886 32823 94455 98319 7706 50617 49235 37123 33975 70114 89279 22862 20811 23686 56668 24673 61703 11964 28637 84625 40708 27700 57487 53102 75674 39222 61129 71861 6881 23072 75754 76478 78418 67563 75621 64437 89024 62017 17087 3644 27 69270 377 78212 58847 39424 40167 13979 60581 23170 59804 82667 95394 75879 52289 25224 23080 68364 42383 3358 50695 55906 8352 25174 4494 8419 97399 36828 7025 66060 94639 83784 35953 90669 76122 99664 31996 84224 60383 4558 90650 65712 57722 50956 62580 9307 19965 19284 5511 57412 18373 17955 94343 20560 92229 72124 98969 27250 16907 40684 26445 54122 35409 94105 39918 22645 90846 47992 24410 67714 51516 51005 36774 63541 28206 49925 49418 14335 54208 49286 79429 8884 13062 5 88124 88955 74957 95226 30956 44661 16662 97359 11251 37573 98831 38215 68712 20180 42863 38697 17865 86271 5064 96894 63253 35922 88575 58655 11023 33269 37868 23524 90882 91469 17667 92376 71817 70782 21040 33805 61508 67206 97968 35406 79559 44412 71510 95092 59828 22916 44394 46431 11164 43644 64285 31105 59370 19863 49107 45315 64490 62297 53769 70690 85702 67382 81086 85676 26397 50383 30916
Are those your serial numbers of your gold/silver bullion?
cicada2014 sez: keep wearing that insect shirt
My hex is a little rusty. Care to translate?
It is a dialect of Bearingish.
It means: “Hey, NSA, catch that and paint it green!”
OK, super. Could you now translate your translation?
My understanding that quotation came from am American POW held by the Chicoms during the Korean War. He was being interrogated. He farted and told them to catch that and paint it green.
Actually that latter set comes from here:
Never heard that one before. Hope it’s true. Worth a chuckle.
Should we expect your future posts to be in hex as well? (Which would be highly annoying and only slightly badass)
I only ask so I can decide if I need to prepare myself with the appropriate translation tools.
I just heard that years ago, I don’t know if it’s true re the POW and green…
Re future posts, naah! Just having fun.
Short and succint this time <– Type exactly that
^—- is the output
Just having fun here is all.
“Gold will become one of the only refuges around,” he says.
Self reliant Family-survival and weaponized multi-strategic, multi-offensive/defensive compounds.
Get Prepared/Stay Prepared
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Some of the most respected prognosticators in the financial world are warning that what is coming in 2014 and beyond is going to shake America to the core. Many of the quotes that you are about to read are from individuals that actually predicted the subprime mortgage meltdown and the financial crisis of 2008 ahead of time. So they have a track record of being right. Does that guarantee that they will be right about what is coming in 2014? Of course not. In fact, as you will see below, not all of them agree about exactly what is coming next. But without a doubt, all of their forecasts are quite ominous. The following are quotes from Harry Dent, Marc Faber, Gerald Celente, Mike Maloney, Jim Rogers and nine other respected economic experts about what they believe is coming in 2014 and beyond…
–Harry Dent, author of The Great Depression Ahead: “Our best long-term and intermediate cycles suggest another slowdown and stock crash accelerating between very early 2014 and early 2015, and possibly lasting well into 2015 or even 2016. The worst economic trends due to demographics will hit between 2014 and 2019. The U.S. economy is likely to suffer a minor or major crash by early 2015 and another between late 2017 and late 2019 or early 2020 at the latest.”
–Marc Faber, editor and publisher of the Gloom, Boom & Doom Report: “You have to say that we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically.”
–Gerald Celente: “Any self-respecting adult that hears McConnell, Reid, Boehner, Ryan, one after another, and buys this baloney… they deserve what they get.
And as for the international scene… the whole thing is collapsing.
That’s our forecast.
We are saying that by the second quarter of 2014, we expect the bottom to fall out… or something to divert our attention as it falls out.”
–Mike Maloney, host of Hidden Secrets of Money: “I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history.”
–Jim Rogers: “You saw what happened in 2008-2009, which was worse than the previous economic setback because the debt was so much higher. Well now the debt is staggeringly much higher, and so the next economic problem, whenever it happens and whatever causes it, is going to be worse than in the past, because we have these unbelievable levels of debt, and unbelievable levels of money printing all over the world. Be worried and get prepared. Now it [a collapse] may not happen until 2016 or something, I have no idea when it’s going to happen, but when it comes, be careful.”
–Lindsey Williams: “There is going to be a global currency reset.”
–CLSA’s Russell Napier: “We are on the eve of a deflationary shock which will likely reduce equity valuations from very high to very low levels.”
–Oaktree Capital’s Howard Marks: “Certainly risk tolerance has been increasing of late; high returns on risky assets have encouraged more of the same; and the markets are becoming more heated. The bottom line varies from sector to sector, but I have no doubt that markets are riskier than at any other time since the depths of the crisis in late 2008 (for credit) or early 2009 (for equities), and they are becoming more so.”
–Financial editor Jeff Berwick: “If they allow interest rates to rise, it will effectively make the U.S. government bankrupt and insolvent, and it would make the U.S. government collapse. . . . They are preparing for a major societal collapse. It is obvious and it will happen, and it will be very scary and very dangerous.”
–Michael Pento, founder of Pento Portfolio Strategies: “Disappointingly, it is much more probable that the government has brought us out of the Great Recession, only to set us up for the Greater Depression, which lies just on the other side of interest rate normalization.”
–Boston University Economics Professor Laurence Kotlikoff:”Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races.”
–Mexican Billionaire Hugo Salinas Price: “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).
There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.”
–Robert Shiller, one of the winners of the 2013 Nobel prize for economics: “I’m not sounding the alarm yet. But in many countries the stock price levels are high, and in many real estate markets prices have risen sharply…that could end badly.”
–David Stockman, former Director of the Office of Management and Budget under President Ronald Reagan: “We have a massive bubble everywhere, from Japan, to China, Europe, to the UK. As a result of this, I think world financial markets are extremely dangerous, unstable, and subject to serious trouble and dislocation in the future.”
And certainly there are already signs that the U.S. economy is slowing down as we head into the final weeks of 2013. For example, on Thursday we learned that the number of initial claims for unemployment benefits increased by 68,000 last week to a disturbingly high total of368,000. That was the largest increase that we have seen in more than a year.
In addition, as I wrote about the other day, rail traffic is way down right now. In fact, for the week ending November 30th, U.S. rail traffic wasdown 16.3 percent from the same week one year earlier. That is a very important indicator that economic activity is getting slower.
And we continue to get more evidence that the middle class is being steadily eroded and that poverty in America is rapidly growing. For example, a survey that was just released found that requests for food assistance and the level of homelessness have both risen significantly in major U.S. cities over the past year…
A survey of 25 American cities, including many of the nation’s largest, showed yearly increases in food aid and homelessness.The cities, located throughout 18 states, saw requests for emergency food aid rise by an average of seven percent compared with the previous period a year earlier, according to the US Conference of Mayors study, published Wednesday.
All but four cities reported an increase in demand for assistance between the period of September 2012 through August 2013.
Unfortunately, if the economic experts quoted above are correct, this is just the beginning of our problems.
The next wave of the economic collapse is rapidly approaching, and things are going to get much worse than this.
So what do you think?
Which of the individuals quoted above do you think are right on the money and which ones do you think are way off base?
Jim Rogers Cautions “Be Prepared, Be Worried, And Be Careful… This Is Going To End Badly” | Zero Hedge
“Eventually, the whole world is going to collapse,” Jim Rogers chides a disquieted CBC anchor as he explains the reality that, “we in the West have staggering debts. The United States is the largest debtor nation in the history of the world,” adding that “this is going to end badly.”
However, the co-founder of Soros’ Quantum fund is convinced that the commodity super-cycle is far from over, but driven by supply constraints (and cost increases) as opposed to demand from higher growth. The following interview provides more color on his commodity view as he re-iterates his bullish stance on Ag (with sugar a focus) and Natural Gas (some harsh natural realities coming), warning“don’t get too excited about fracking,” when he talks energy products.
Rogers, in his inimitable way, sums up the state iof euphoria that many markets find themselves in thus, “we are all floating around on a sea of artificial liquidity right now. This is not going to last.”
On the end of the commodity super-cycle:
“Commodities have pulled back, but I would remind you that in all bull markets there are periods of correction.
In 1987 – during the great bull market in stocks – stocks went down 40 to 80 per cent around the world; again in 1989, 1990, 1994, etc. Every time people said the bull market’s over, but it wasn’t. I think that’s what’s happening with commodities now.”
On the next crisis:
“2008 was so much worse than 2000 because the debt was so much higher, you wait until 2014 or 2015 when the next crisis hits…
debt has gone through the roof, the next one’s gonna be really bad“
His final words:
“Be prepared, be worried, and be careful“
“The world has consumed more than it produced for more than a decade,” Jim Rogers explains to BoomBust’s Erin Ade; but his comments to the leather mini-skirted anchor with regard the actions of the world’s central banks bear the most attention. “The world is floating on an artificial ocean of printed money,” he blasts, adding that while it’s going on “everyone’s happy,” but at the first sign of it slowing, he warns, “we will all dry up.”
Rogers sees gold as a crucial holding in this respect but believes there will be a better price to buy more, as he reflects on the suppressive actions of the Indian government.
This excellent far-reaching interview covers everything from gold standards to China’s 3rd Plenum “I much prefer the Chinese system of open markets than the US with the government dictating everything” and from Bitcoin to a barbaric destruction of the Fed and all it stands for, “the Fed will self-destruct, before the polticians realize what is going on.”
Erin Ade… (you’re welcome – is it any wonder Maria B quit?) asks every question we need answered…
interviews a worried Jim Rogers…
4:30 Agriculture/Farmland – bullish sugar and farmland – “The world has consumed more than it produced for more than a decade,” and inventories are near record lows
6:25 Central Banks – “for the first time in history, all central banks are printing money… The world is floating on an artificial ocean of printed money,”
7:15 Gold – “I am not selling any of my gold, but believe there will better prices to buy… the Indian government is actually trying to make its people sell their gold.”
8:45 Gold Standard – “it might work for a while but eventually the politicians will cheat that too”… “people wil be desperate in the next decade to try anything – maybe it will be bitcoins”
9:40 Bitcoin – there are many more important things in the world than worrying about bitcoins
10:15 China’s Plenum – “the Chinese are becoming more and more capitalist”… they are becoming more and more market focused… as opposed to the US where when there is a problem “the government decides how to fix it… look at Obamacare” – “the government says “we will figure out the solution”… “I much prefer the Chinese system of open markets than the US with the government dictating everything”
15:20 The Fed – “The way the world has worked for a few thousand years is – that when people get into trouble, they fail; competent people come along, reorganize the assets and start over…” In America, he chides, “they decided to let incompetent people take over the assets from competent people and compete with the competent people.” – The Japanese tried this in the 90s and it failed for 2 lost decades.
“In America, they are kicking the can down the road, and when the can finally goes over the side, we are all going to go with it.”
“We’ve had 50-60 years of excess in America, you’ve got to pay the price some day whether you like it or not… the longer they delay the day of reckoning the worse it will be.”
17:40 Abolish The Fed – “the world has gotten along very well for most of history without central banks.”
“we would be better of with no central bank, than this central bank”
19:00 Stocks – “we are certainly gonna have a crash some day” – “as long as they keep printing money, and no restraints on congressional spending, this bubble could go on forever”
Kyle Bass, Larry Edelson, Charles Nenner, James Dines, Nouriel Roubini, Jim Rogers, Marc Faber, Jim Rickards and Martin Armstrong Warn or War
We’re already at war in numerous countries all over the world.
But top economic advisers warn that economic factors could lead to a new world war.
Kyle Bass writes:
Trillions of dollars of debts will be restructured and millions of financially prudent savers will lose large percentages of their real purchasing power at exactly the wrong time in their lives. Again, the world will not end, but the social fabric of the profligate nations will be stretched and in some cases torn. Sadly, looking back through economic history, all too often war is the manifestation of simple economic entropy played to its logical conclusion. We believe that war is an inevitable consequence of the current global economic situation.
Larry Edelson wrote an email to subscribers entitled “What the “Cycles of War” are saying for 2013″, which states:
Since the 1980s, I’ve been studying the so-called “cycles of war” — the natural rhythms that predispose societies to descend into chaos, into hatred, into civil and even international war.
I’m certainly not the first person to examine these very distinctive patterns in history. There have been many before me, notably, Raymond Wheeler, who published the most authoritative chronicle of war ever, covering a period of 2,600 years of data.
However, there are very few people who are willing to even discuss the issue right now. And based on what I’m seeing, the implications could be absolutely huge in 2013.
Former Goldman Sachs technical analyst Charles Nenner – who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients – saysthere will be “a major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000.
Veteran investor adviser James Dines forecast a war is epochal as World Wars I and II, starting in the Middle East.
Nouriel Roubini has warned of war with Iran. And when Roubini was asked:
Where does this all lead us? The risk in your view is of another Great Depression. But even respectable European politicians are talking not just an economic depression but possibly even worse consequences over the next decade or so. Bearing European history in mind, where does this take us?
In the 1930s, because we made a major policy mistake, we went through financial instability, defaults, currency devaluations, printing money, capital controls, trade wars, populism, a bunch of radical, populist, aggressive regimes coming to power from Germany to Italy to Spain to Japan, and then we ended up with World War II.
Now I’m not predicting World War III but seriously, if there was a global financial crisis after the first one, then we go into depression: the political and social instability in Europe and other advanced economies is going to become extremely severe. And that’s something we have to worry about.
Billionaire investor Jim Rogers notes:
A continuation of bailouts in Europe could ultimately spark another world war, says international investor Jim Rogers.
“Add debt, the situation gets worse, and eventually it just collapses. Then everybody is looking for scapegoats. Politicians blame foreigners, and we’re in World War II or World War whatever.”
Marc Faber says that the American government will start new wars in response to the economic crisis:
- “The next thing the government will do to distract the attention of the people on bad economic conditions is they’ll start a war somewhere.”
We’re in the middle of a global currency war – i.e. a situation where nations all compete to devalue their currencies the most in order to boost exports. And Brazilian president-elect Rousseff said in 2010:
The last time there was a series of competitive devaluations … it ended in world war two.
Jim Rickards agrees:
Currency wars lead to trade wars, which often lead to hot wars. In 2009, Rickards participated in the Pentagon’s first-ever “financial” war games. While expressing confidence in America’s ability to defeat any other nation-state in battle, Rickards says the U.S. could get dragged into “asymmetric warfare,” if currency wars lead to rising inflation and global economic uncertainty.
As does Jim Rogers:
Trade wars always lead to wars.
Martin Armstrong wrote in August:
Our greatest problem is the bureaucracy wants a war. This will distract everyone from the NSA and justify what they have been doing. They need a distraction for the economic decline that is coming.
Armstrong argued last month that war plans against Syria are really about debt and spending:
The Syrian mess seems to have people lining up on Capital Hill when sources there say the phone calls coming in are overwhelmingly against any action. The politicians are ignoring the people entirely. This suggests there is indeed a secret agenda to achieve a goal outside the discussion box. That is most like the debt problem and a war is necessary to relief the pressure to curtail spending.
Moreover, former Federal Reserve chairman Alan Greenspan said that the Iraq war was really about oil, and former Treasury Secretary Paul O’Neill says that Bush planned the Iraq war before 9/11. And seethis and this. If that war was for petroleum, other oil-rich countries might be invaded as well.
And the American policy of using the military to contain China’s growing economic influence – and of considering economic rivalry to be a basis for war – are creating a tinderbox.
Finally, multi-billionaire investor Hugo Salinas Price says:
What happened to [Libya’s] Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade. The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar. You know Gaddafi was talking about a golddinar.
Indeed, senior CNBC editor John Carney noted:
Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era.
This suggests we have a bit more than a ragtag bunch of rebels running around and that there are some pretty sophisticated influences. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” Wenzel writes.
Many Warn of Unrest
Numerous economic organizations and economists also warn of crash-induced unrest, including:
- The head of the World Trade Organization
- The head of the International Monetary Fund
- The head of the World Bank
- Leading economic historian Niall Ferguson
- Leading economist John Williams
- Jim Rogers ~ The Biggest Debt Nation In The World – USA Crisis 2013 (financearmageddon.blogspot.com)
- American Second Revolution ~ The Collapse of The Dollar ~ Civil Unrest, Martial Law , Police State (financearmageddon.blogspot.com)
- Dollar Collapse In America – Troops To Fire On American Citizens During Civil Unrest (financearmageddon.blogspot.com)
- FINANCIAL COLLAPSE ~ Global crisis Evidence Of Economic Collapse Martial Law Preparations (financearmageddon.blogspot.com)
India Central Bank Scrambles With Currency Collapse Fallout: Gives USD To Oil Companies, Everyone Else Tough Luck | Zero Hedge
- Rupee closes at record low of 68.80 against U.S. dollar (vancouverdesi.com)
- ZeroHedge: Three Years After Warning Of “Currency War”, Brazil Goes All In (silveristhenew.com)
- A speculative attack on the rupee? (thehindu.com)
- Jim Rogers says Abe will ruin Japan (forexlive.com)
- Jim Rogers: An Economic Slowdown Is Like A Forest Fire (silveristhenew.com)
- Ron Paul & Jim Rogers On the Government, Martial Law, Collapse (financearmageddon.blogspot.com)
- Jim Rogers: There Are Places In The World Where Things Are Getting Better (silveristhenew.com)
- Ron Paul, Jim Rogers, Nigel Farage and Jim Rickards Warn of Looming Crisis Together for First Time at the SovereignMan.com Offshore Tactics Workshop in Santiago, Chile (prweb.com)
- Ron Paul + Jim Rogers on the government: “They’ll use force and they’ll use intimidation…” (ncrenegade.com)
- Ron Paul, Jim Rogers, Nigel Farage and Jim Rickards Warn of Looming Crisis (dailypaul.com)
- Ron Paul and Jim Rodgers (theburningplatform.com)
- Jim Rogers: Jim Rogers Blog 2013-04-10 06:53:00 (silveristhenew.com)