Jim Rogers: "Saudi Arabia Is Lying About Being Able To Increase Its Oil Production"

Tyler Durden's picture

Jim Rogers joins Zero Hedge in being highly skeptical about just how credible Saudi's call for a 1MM + boost in its oil supply is: "Saudi Arabia has been lying about the reserves for decades. Saudi Arabia the last two times said they are going to increase production and they couldn't increase production. Don't fall for that. The reason oil is going up is the world is running out of known reserves of oil." Of course, then there is the question of does one trust the Quantum fund creator who retired at 37, or does one go with the sellside lemming brigade of monkeys with typewriters who will groupthink anything and everything to death, just to get paid another completely unwarranted bonus. As to those who are concerned that the commodity "bubble" is about to pop, Rogers says: "It's still years away." And some reinforcement for the gold and silver bulls: "Gold will certainly go over $2,000 by the end of the decade, and silver will pass $50." And as a hedge to his great commodity bull market call, Rogers continues to be short Nasdaq stocks. His thesis: "If the economy gets better I am going to make money in commodities, if it doesn't get better, I am going to make money in commodities cause they are going to print huge amounts of money." Call it the adjusted Tepper call. Rogers is also holding a contrarian all on the dollar: "I own some dollars now because there was a huge drop in the dollar. I do sometimes like to buy things when they collapse, and sometimes I don't. Sometimes I lose money." We assume this is merely a short-term revulsion trade as all the near-record USD shorts get flushed out as we highlighted in the latest Committment of Traders update.

Full interview:




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Cognitive Dissonance's picture

Jim Rogers to Saudi Arabia. "Liar liar, pants on fire."

But really Jim, since everyone else is lying through their teeth, why pick on the newly returned King Abdullah. Sheesh, give the poor guy time to service his wives before you take him down a few pegs.

Careless Whisper's picture

since everyone else is lying through their teeth

yeah, but the truth is forcing its way out. they can't stop it.

on his live interview on the view today, alex jones hijacks the last two minutes, while whoopi and barbara try to shut him down.

we've got the banks bankrupting the the u.s.

charlie sheen didn't steal $23.7 trillion, like the federal reserve.



asdasmos's picture

Marc talks mostly energy today.


Marc Faber on CNBC 02/28/11


AnonymousAnarchist's picture

Louis C.K. to Donald Rumsfeld: Are you and Cheney lizards? Hilarious starting at about 2:30 mark.

asdasmos's picture

Michael will finally get an answer.

william the bastard's picture

Michael Landon was a friend of mine and you're not.

I Got Worms's picture

Love me some Louis CK - maybe he can be our genreation's George Carlin. Eat a bag of dicks Bernake!

ColonelCooper's picture

Careful.  I used that bag o' dicks line and was junked to shit by the easily offended.  You see, the PC crowd has a hard time with shit like context and origin.

The simple fact that you would even watch Louis CK after he used a line like that..... Homophobe.

william the bastard's picture

Don't you have a gay field hand needs whipping?

Strike Back's picture

Why does it not surprise me that CK would talk about lizards.  Just like the Roots talking about the all seeing eye.  Just like Mos Def talking about central banks and the CIA.

lynnybee's picture

yes, i saw that & sent a video clip of ALEX saying the words "TSA with their hands down your pants" & " We're becoming a police state", & " George Bush kills a million Iraqi's" . ...... sent it to all my skeptical friends & family .    Oh, & how about the statement on NATIONAL T.V. in front of 30,000,000 viewers :  "The FEDERAL RESERVE steals $23trillion " !    ALEX steamrolled over BARBARA WALTERS !

Bay of Pigs's picture

All those women don't have a fucking clue about what Jones is talking about. They were completely unprepared to discuss anything of substance because they don't know anything. He will never be asked back on that show, you can bet on that.

walküre's picture

why was he on THEIR show?

Moe Howard's picture

Who watches the view?????

william the bastard's picture

the 3 stooges: bay o pigs, col coop, tlooser and u.

walküre's picture

right. but it is besides the point.

why did the VIEW invite the opinion of Info Warrior Alex Jones?

hmmm... and why did Alex Jones accept?

it's not info wars. it's propaganda wars. in a war, the truth is the first casualty.


Buck Johnson's picture

Whoever booked Alex Jones in order to get the Charlie Sheen flap was played like a fiddle.  I love Alex, but they should have known that giving him a seat to the "big chair" on a daytime show with 30 million viewers helped him more so than it hurt him.  And thinking that Barbara Walters and the others would be able to control him where dead wrong. 

lynnybee's picture

well, i'm a woman & I KNOW.    i'm finally getting through to my son (cause i put some silver in his hand) & my daughter & even my sister is coming around.    i told her that the first thing she had to do was to accept that what i was telling her was fact.    if you accept certain things as being FACT, then, start to expand your knowlege through your own internet research.

Harmonious_Dissonance's picture

Well, now why don't you listen to this about Alex Jones "facts":  http://www.youtube.com/watch?v=DsXVO1pBi7U

israhole's picture

Thanks for the video. Jones is an Israel-first rat like the traitors in our government.

Harmonious_Dissonance's picture

Here is some great Alex Jones FACTS from new years 2000, "The RUSSIANS ARE LAUNCHING NUKES!!" Alex puts out allot of truth, but he's an ego maniacal fear monger.

samsara's picture


Just keep giving them articles.   At some point (as happened to me),  they start saying... "Hey that stuff you were saying ,,, I just read in the paper today....  Everything you said I see in the news 6 weeks later...."

Twindrives's picture

The Saudis learned to lie from the best, Obama. 

cougar_w's picture

Obama hadn't been born when the Saudis were already well into the lie.

JW n FL's picture
by Cognitive Dissonance
on Mon, 02/28/2011 - 15:43


Jim Rogers to Saudi Arabia. "Liar liar, pants on fire."




The Navigator's picture

Excellent post on peak (cheap) oil - Thanks!

Jim Rogers has picked some good winners in the past and I'd follow him anywhere. No BS, goes by the (easy to read) numbers, and plain logic. The only fly in the ointment to ANY perfectly thought out plan is GOVT INTERVENTION, which has screwed up most of the markets everywhere. I'd like to hear JR comment on this and how to hedge against govt intervention.

Arkadaba's picture

And Matt Simmons (lest we forget) was saying this quite a while ago:


Oh regional Indian's picture

Ark, thanks for bringing Simmon's back to the table, bless him. Everyone was going ape then about how he was over the top and under the bottom (of the GOM). And while the whole GOM story has been dying on the vine (talk about brilliant perception management by Govt/BP), the real story, as it continues to filter out, is worse by the day.

The New Madrid Fault line is the target. Balkanization, it's what's for dessert.

Oil is the lever in this oil driven world. And they have it in their hands, firmly. And since we are like junkies now, cutting it off is the ultimate lever on people.

Looks like they are getting ready to use that lever for realz.



10kby2k's picture

Jim Rogers traveled around the world...twice. And not as a vacation...he was just a common guy.  I did this after high school and my perceptions of the world were forever changed.....and I realized how far off many peoples perceptions of what they haven't seen are. Jim Rogers says what he thinks and believes. He is modest. Because he has seen with his eyes what we all haven't I trust his judgement more than my own on these topics. His words actually carry weight in a world of talking heads and bull shit.

Nobody special's picture

That may be, but he's ridiculously conservative for someone with such wisdom.  Gold over $2000 by the end of the decade?  Silver over $50?  These are hardly epiphanies... understatements of a lifetime.  Inflation alone will push them much higher.  No doubt he knows this, why isn't he saying it?

zaknick's picture

He isn't saying it precisely because his words carry weight. Unfortunately, on this most sensitive of subjects he isn't willing to expose his fellow billionaires.

Yeah, $2,000 by the end of the decade? Puh-leeze

Along these same lines.... Tyler Durden used to tell us the Chinese were selling Treasurys; now he says they were the ones behind the English accumulators.... and that he knew it all along.


juangrande's picture

Tyler was at least suspicious all along. I remember reading articles where he postulated that someone else (the chinese perhaps) was buying treasuries through London. 

Assetman's picture

I'll vouch for that as well.

Amagnonx's picture

Rodgers knows the score - why isn't he giving a more realistic view of gold and silver prices?


Pretty simple - credibility.  When you make calls that are absolute certainty, and then they come true within a short time frame - people put a lot more weight on that then calling high side estimates that might take years to play out.


He knows those thresh holds will be broken within less than 2 yrs, possibily within 1 yr, or even 3-6 months.


When you say it - and it happens soon, then people will listen closely to the next prediction and start having some clue you are not guessing.


People have short memories.

Martel's picture

Gold $2000/oz. by the end of the decade means a four percent annual return, cumulative. Hell, even inflation exceeds that. Sure, Jim Rogers has past merits, but he sounds like a stockbroker.

Xkwisetly Paneful's picture

For a guy who made his money being a contrarian he sure is a member of the herd these days.

trav7777's picture

Coulda told ya...bitchez

B9K9's picture

Anyone with a rudimentary knowledge of math would know that eventually the "neshek"  (ie usurywould begin to smart one day. It really was the ultimate "sell in May & go away" strategy writ large over generations. Once the debt-as-money scheme was firmly established amongst the global economy, it was all over except for the crying.

Funny how humanity had to literally plow through every known natual resource, and increase world population by some incredible multiple, just to keep Shylock at bay. And here comes the bill due anyway, just when the poor mice running the wheel are all tapped out. LOL

At a certain level, one should step back and survey the situation with sufficient aplomb to exclaim "well played sir"!

About the only remaining question is whether or not they will want to retain an army of serfs as a substitute for stored energy, or get rid of the whole lot of us in an effort to preserve what remaining stores are for themselves.

Arkadaba's picture

About the only remaining question is whether or not they will want to retain an army of serfs as a substitute for stored energy...

You mean like this:


snowball777's picture

Was thinking more like several hundred million Chinese riding bikes to charge up flywheels.

Let's get physical...physical...

samsara's picture

Great post as always k9

Some people don't understand geometric progressions.  Like the rule of 72(+/-)

Wages go up Linear

Interest goes up geometric.


My bet is they can't keep it together to serfville.  

Now,  Gene Specific Bioweapons....  Now that could do the trick.....


10kby2k's picture

and make of a world of drunk, foxy, sluts