Jim Rogers on Bloomberg (8/8/11) – If the current financial panic accelerates, he will probably cover some or all of his shorts…

Jim Rogers was on Bloomberg this morning, he had some interesting thoughts about the current financial panic as well as economic and financial trends over the coming months and years. See below for the video and summary.

 

 

Summary:

 

  • The ratings cut is not news! The market is going down because of problems in the world.
  • If the current financial panic grows into an outright selling climax, Jim Rogers will cover some or all of his shorts.
  • Anybody who is investing on the downgrade should not be investing! Nobody who invests based on the news makes any money!
  • Why should an honest Finnish/Dutch/German taxpayer who has saved money have to pay for people who haven’t?
  • Jim Rogers owns the Euro, the Dollar & Commodities (esp. Ags, Gold & Silver).
  • None of these fiscal and monetary policies work. The only thing that does work is facing reality.
  • At the rate things are going, America is going to have two or three lost decades.
  • Gold and silver have been going up very fast. Usually, things correct when they go straight up.
  • If markets continue to collapse, Jim Rogers will cover some or all of his shorts. Then he will look for things to buy. Since central bankers of the world are intent on debasing their currencies, he will probably buy commodities.
  • Ben Bernanke doesn’t understand currencies, finance etc. He only understands the printing of money.
  • There is going to be more inflation in the world. Whenever people print money, it leads to inflation. It’s going to continue to cause social unrest.
  • In the early 90s, the Japanese started to prop up insolvent banks and companies. Now their stock market is still down over 75%. Scandinavia had the same problems; they took the pain and now have been booming for 15-20 years.

See here for our collection of rare historical economic data.

Posted Aug 8, 2011
by | Categories: Uncategorized