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The Rogers Retort: When Everyone Is On One Side Of The Boat, Invariably Run To The Other Side... And Buy Gold
Any day that has Roubini making waves, means Rogers (of R'n'R dynamic duo fame) can't be far behind. Which is precisely the case today: as per the interview below, Jim is still bullish not only on dollars (a contrarian play) but on gold, which he seems to value just a tad more than spam, expecting the precious/worthless metal to hit "several thousand dollars an ounce some time in the next decade." Roubini: ball is in your court. Or maybe it is just time to let this one die.
And another interview with Rogers, this time with Bloomberg's Betty Liu. He proposes a binary outcome dependant on the world economy, and in both cases says to buy commodities.
h/t Dvolatility
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Rogers has also confessed time and time again that he is the worse market timer on the planet.
Yeah, the worst short-term market timer.
He is famous for his excelent long-term market strategies.
That is why he is rich. That is why he lives in Asia.
The term "market timing" implies short-term moves, not long-term ones.
No disagreement here.
excuse me greensharts?
Dissolved gold in seawater is 6 parts per trillion.
One cubic kilometer of seawater contains approximately 6 kilograms of gold which is 24 Kg or 768 troy ounces per cubic mile.
The worlds oceans hold 310 million cubic miles of water and thus 7.8 billion Kgs of gold whose value today would be around 273 trillion dollars.
Perhaps Goldman can arrange the IPO.
Bitchin'! I always liked the ocean.
Gosh I wonder how much Siiiiiilllveeeeerrrrr?
Don't get me started on "Silver" bugs... the variation in seawater content is too great for me to do an estimate. I think however since certain algae can concentrate up to 200 PPM of silver in dry biomass that 'biomining' may become a distinct possibility in the future.
Wow we can murder algea and plankton for silver!
or bioengineer whales to do it for us.
Processing whale shit for cash... I like where you are going with this one bugs...
Nope just genetically engineer a bunch of super sea sponges. Square shaped. You can name them bob even if you want to. Then just let them attach to a net grid and sit back and soak up the gold. Just watch out for competitive shamwow operations. ;)
I thought you wanted gold, Yukon.
@ZerOHead speaking of unarmed Goldman bankstas... how come no one on this site mentioned the breaking article in todays WSJ which uncovers the Goldman - AIG financial relationship to the tune of costing GS $33 billion if AIG went down!? PROPS to the Wall Street Journal.
http://online.wsj.com/article/SB10001424052748704201404574590453176996032.html
I think it's just overload CW. My mind as well is becoming numbed by the continous ongoing revelations... and the numbers
Millions become billions... bilions become trillions... Obama has been ensconced and absorbed by Team Squid... and the sheeple are glued to whatever reality show is hot today. It's plain depressing.
Personnally I feel just like Taleb these days... just want to retreat and focus on our assets. Another huge acquisition (size-wise) closing in a couple weeks now... a 'welcome' distraction for us like Idol is for the masses I guess. Whatever happens will happen.
0head, someone shared this on another thread, you might get a kick out of it in your current mental state:
http://shewhomeasures.com/
Great find Tipster...
So much said with so few (none) words... it's a great piece but too realistic and thus the "kick" is once again to my b&lls...
I'm hooking up with some "blue pills" tonite... later cats!
Interesting: Even perhaps, Orwellian.
blue pill? hmmm,:
http://www.dailymotion.com/video/x905ob_staying-alive-feat-tiger-woods-dere_sport
mark, it reminds me of brazil (the movie, not the country)
Wild, simply wild...thanks.
That made my evening.
hattip goes to anonymouse:
http://www.zerohedge.com/article/guest-post-hot-future-geothermal#commen...
thanks.
that kind of covers it, doesn't it...
wow. tnx
Carl Barks wrote an Unca Scrooge comic book about the gold in seawater 45 years ago ...
+ 100*100 billion, Best post in a while..
Dissolved value in dollars is also around 6 parts per trillion.
Coincidence?
This is interesting because I was doing back-of-the-napkin calculations on this the other night. Dissolved gold in seawater is found in concentrations of .1 to 2mg per ton. I figure that if only 1% of this is extracted it would amount to about 64 times all above-ground gold ever found. At some point (maybe we're already there) it will be profitable to go after this gold. That's why I take these multi-thousand dollar gold price projections with a grain of salt. Many bulls are ignoring the supply side of the equation.
We just simply sell the South China Sea with the $3 trillion in gold containing seawater to China to pay off the trillion or two we owe and we still get back a couple hundred billion in change...
Now thats "Change I can believe in!"
I got a better idea. We can form a corporation to pump sea water a few miles into Antarctica. As the water solidifies, it leaves behind the minerals, we scrape them up and then we separate out the ions we want. To pay for all this we can get the "greenies" to pay for it because it will lower the sea level that all the environmental wack-o shits keep whining about.
Great idea Fish...
We can train the local penguins who will work cheaply for the free fish by-product.
They are quite honest and unlikely to steal our gold.
Any private equity types trolling for an opportunity out there?
fish, the japanese already figured out how to do that with uranium actually (with a slightly different method):
http://en.wikipedia.org/wiki/Uranium_mining#Recovery_from_seawater
how about this idea? an enormous multinational dredging operation in the Great Pacific Garbage Patch that could (a) filter out all the plastic from the ocean and store it all in the empty container ships that are sitting around everywhere and (b) recover uranium from the ocean without having to drill baby drill.
http://en.wikipedia.org/wiki/Great_Pacific_Garbage_Patch
solutions are everywhere if we look yes?
Maybe if we extract the gold and silver from the seas we will help the global warming problem?
toenails have gold too
The thermodynamic lower bound for the energy cost to recover (most of) this is about 300kJ/kg. Thats cheap. Thats not to say that a technology exists to get anywhere near this bound.
Don't ya just love the second law?
Rogers was at CNBC on friday http://www.youtube.com/watch?v=UVFxCEAqIgg&feature=sub
Anyone who hung out with Soros is sus but Rogers is good.
Rogers: the USA doesn't have a triple A status except for people like Moody's. Moody's said all these sub-prime tranches were triple A. Oh puleeze, you pay attention to Moody's ?
Think Ima buy more gold on Monday.
Gold never goes down in price.
The increases are permanent.
thx for the highlight, TD.
nouriel not respond, publicly ? yeah right. such a media whore.
just wish that RGE could summarize what they DO have to say instead of just dropping us all a voluminous ranty email / crackberry ping at 3:48 am EST every weekday.
Welcome to Obamaville
http://www.krdo.com/Global/story.asp?S=11656369
Jim Rogers is extremely practical and logical in his approach to investing and short-term market moves are often impractical and illogical. His views over the longer term are based on sound reasoning and logic and that always wins over the long-term. For example, if demand for a particular commodity has waned, then investment in this commodity will decline which eventually leads to shortages and a rise in price. This is quite logical but requires patience. This is why Jim Rogers is an excellent long-term investor. He is smart and patient.
I see someone else has read Hot Commodities. Good lessons & information.
Only three banks failed yesterday, one of which was bought by WalMart?
Saw that...not even a billion $ hit to the DIF. Must not be newsworthy.
Plus 8 banks in Venezuela; 30 bankstas doing a perp walk.
PROPS to Chavez
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajZyy1ioGN7o&pos=9
I really got to hand it to Chavez. He managed to nab 30 bankstas. Not one single person has gone to jail as millions and billions of dollars have been vaporized by our banstas. Think about it, of all the banks that have failed, all of them had a board that got paid handsomely to run their banks into the ground. They lived a good life at the expense of the FDIC. The best way to rob a bank is to own one.
yeah, besides jail, Chavez seized the bakstas personal assets. Over here we give them bonuses.
Chavez said the government has to show the public that the bankers were "common thieves" that would "empty your pockets and rob your house."
http://online.wsj.com/article/BT-CO-20091206-703036.html
The only problem with Chavez is..., probably half those arrested had nothing to do with banking, but maybe didn't politically support Chavez as much as he thought they should.
One guy I read thinks gold will be at $1400 - $1500/oz in Spring 2010. His rationale:
-- Fed money printing increasing
-- Default risk (private & sovereign) increasing
-- 2nd Stimulus Package (Jobs Bill) will increase the federal deficit even more
-- General public & big funds not yet really buying gold in quantity
-- Central Banks are now net buyers of gold
-- Increasing global demand for gold; decreasing global production
He looks at the recent pull back as a buying opportunity. I agree.
Sounds like Jim Puplava
Russian Central Bank boosts gold reserves by 5%, or $1bn.
http://mineweb.com/mineweb/view/mineweb/en/page72068?oid=94430&sn=Detail
I get the feeling Roubini is trying to hit the ball out of the park with every one of his predictions and hoping that when one comes off, people will forget about the others. His line about oil prices having no bearing on fundamentals hasn't really played out, so he's moving on to gold.
Strikes me, he thinks everything is overpriced, except Spam.
Green Eggs and Spam, Ham I am.
"Strikes me, he thinks everything is overpriced, except Spam."
then dr. doom don't know kindness.
buy on the dips, it's the ultimate contrarian play by rogers rules.
C'mon there'sa lotta pig rectum in the Spam. You may not want to know how it's made, but lotta stomach turning gunk.
Roubini may not be kosher but he can't eat spam or pork sausage.
He may be proscribed from the unclean animal products, but that doesn't hinder his carnival barkering of it. He doesn't mind that his friends in high places are hawkers and mongers of the worst sort of slice'n'dice snack treat. And the newest snack treat is the US currency, which used to hold the confidence of the majority because it was backed by Treasuries and relatively good management. Every monetization action and every exchange of toxic credit gunk for FRN makes it less a loin chop and more pig rectum.
Gold IS clean and unsundered by the sausage making fraud factories of Wall Street. Just eat it like Moses made 'em.
Society has moved from a place of creating products to enhance their neighbor's lives to playing discreet games with commodity substitutes and paper pledges. It is a sure sign of corruption and imminent fall. When manly and durable labour is replaced with speculation and exploiting insignificants at micro-intervals for arbitrage gain, well, the patient is dead man walking.
The era of gluttony and luxury and excess is followed by hostile confrontation, want, misery, and pogroms of some kind.
And thus clean beasts are slowly made into a ring-straked and unclean thing. Sausage making is just that. Close your eyes and pretend it is a grilled Porterhouse, me boys.
Rogers called the Fannie Freddie corruption and bankruptcy for years on Fox Biz Saturday show. Who's laughing at his predictions now ?.... Well maybe Franklin Raines one lucky fucker who should be behind bars..
Here it is http://www.youtube.com/watch?v=1j0_AiOXQzw
and here is the current values
http://finance.yahoo.com/q/cq?s=FNM,FRE&d=v4
I like this blog. It occasionally gives me a breath of fresh air that I can't get from the suffocating msm.
One thing that concerns me however is the lack of resources this blog devotes to the topics of the CIA, money laundering, and drug money and the role these issues play in the capital markets.
Perhaps devoting some resources to these topics could be an area of improvement for the new year.
CIA, money laundering & drug money and the roles they play in the capital markets. That is playing with fire.
It would probably make zerohedge the most popular website in the world. That is, unless the bankstas, gangstas and .govs of the world did not shut it down and kill everyone.
LOL and can anyone tell me why has opium production has skyrocketed since the US entered Afghanistan with military forces?
ask your neighborhood pharmacist that question
"Drug money saved banks in global crisis, claims UN advisor"
http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-c...
+1,000,000
It is the elephant in the room that many don't even notice.It is a rabbit hole we should explore soon...before it is too late.The comment about the results of the site going there are sadly correct.These are not normal players.Gee, where do the profits from the poppy fields of Afghanistan end up?Answer that question and you may not like what you find.
Another interesting subject: "black market" gold. N.T. Taylor's book "Wages of Crime" is the only book I know of that covers the underworld of gold as a serious subject.
http://www.cornellpress.cornell.edu/cup_detail.taf?ti_id=4275
Don't forget his comments on Silver-- It is such a bargain right now for the patient investor. It will be $50 soon--no doubt about it.
Silver is still cheap and I will just keep right on buying until it hits $100. In relation to where gold is, it should be way higher. Only a matter of time!
Agreed.
I just hope we get another chance to buy more at $10 before 'escape velocity'. No matter, I purchase physical like clockwork every month because higher silver prices is about the only 'sure thing' I can see on down the road.
http://stockcharts.com/charts/performance/perf.html?$GOLD,$silver
get the slider to line up on Jun03-Apr04
the Canadian silvers are up off their lows from this dip. Maybe one more small dip.
Roubini, unlike Rogers, has no money in the game so what value can his comments truly have? Rogers is not selling gold or any other commodity and is buying on the dips. Roubini like Geithner and Bernanke are "intellectuals". Rogers, Chapman, Faber, Schiff are true players while the others are just "sportcasters" so to speak. Who knows the game better?
Roubini = Academic Rube?
Off subject
http://www.istockanalyst.com/article/viewarticle/articleid/3708556#
13 (*)
* Estimated number of asterisks leading to explanations of new accounting methods used in December 2009 retail sales report
Nothing but denial here on this post by ZH.
The problem is, this whole country has their
head in the sand. Well, at least 75%. Time
will tell, it always does. And that's all we
have now, is time.
I admire Rogers. As for the other, there are idiots and then there are f*cking idiots.
... there are idiots and then there are f*cking idiots. That is a good quote. Here is one from (Pink Flamingos) Divine: "There are two kinds of people in this world, my kind and assholes."
I prefer; "There are two kinds of people in this world my friend, those with loaded guns, and those who dig."
I am pretty sure a German scientist tried to get gold out of seawater after WWI as a way for Grmany to pay reparations. After 2 years and millions of gallons of seawater screened he got like 1mg of gold. Technology has advanced however!
Correct. They cruised around the whole and took samples in various places, but the concentration was too low. Don't forget folks, it takes energy to concentrate a diffuse substance. Gold is pretty much unreactive, so I don't think you are going to find a critter that will do your concentrating for you.
http://www.physorg.com/news174140990.html
Nano filtration is new, coupled with the floating wave power generators that can be deployed on bouys (spins due to incoming waves creating an electrical charge) it could be possible. I have noticed the local beach has sand that has tiny particles that shine just like gold in the sunlight - it would be interesting to strain the sand on the beach for gold.
Funny thing, my bro metal detechs on the beach and finds gold quite often. 14kt mostly.
The sparkle in the sand is iron pyrite - literally fool's gold. Pyrite is incredibly abundant, and usually tends to form in a silicate matrix, which means that as wave action breaks down that silicon, a lot of pyrite ends up in sand. Gold, being much denser, usually collects embedded in seams of metamorphic granite when both are at significant depth beneath the crust and molten. The gold that reaches the surface consequently is usually placed there either from volcanic flows (though this accounts for a comparatively small amount given the density of gold) or is the result of crustal upthrust, exposing ancient metamorphic rock.
As this process occurs underwater as well, you do occasionally get particles of gold getting worn away from exposed seams to become part of the particulates in the water, but the overall concentration is low enough as to be infeasible unless you happen to pull directly from around the exposed seam.
gold WILL be 1650 by April & You can take that to the bank.
f roubini, he doesn't know gold if it him in the head
Goldman Sachs Trading Shouldn't Be Backed by Taxpayer Money, Volcker Says
http://blog.redfin.com/washingtondc/2009/11/case-shiller_effects_of_tax_...
jim doesn't say-a gold is real money.
gold-a is going to rise-a for the next decade.
that means-a that the fed-a will be successful in creating another decade of inflationary boom. that means-a don't bet against the fed.
i cannot relate to you enough-a that a decade of inflation is a success story for us.
join-a in the fun and forget-a the truth. as the italian philosopher nietzsche say:
truth-a is a woman, so it-a always gets-a fucked
lol i didnt get why you had a's after most words in your post but your avatar made me realize the 'proper' way to read your post
He's Canadian - those are actually "eh"'s.
Well,kinda interesting that on the one hand roubini was afraid that oil will get to $100 and on the other he is saying that gold is in a bubble. For oil to get so high,there gotta be fear of inflation which in turn will pump up gold. Whether you can buy anything with gold or not,that issue is irrelevant. People simply use their saving income to buy gold instead of keeping it into paper money when there is no more trust in currency. And I believe that they will do that even if there is deflation. If we are to compare prices with last summer,they difinately have come down for many things,and yet gold is still higher than last year's highs....
I'm long tungsten because I can get delivery from the corner alchemist. Also hoarding lead, as well. No, I can't eat it (but you might). Roubini is spot on. If you don't have a safe deposit box at a bullion bank, buy spam.
Only a sophisticated supercomputer program can properly model the distribution of wealth among mankind.
You will be assigned a number at birth. You will be allotted resources. You will be evaluated as per performance.
You will be terminated by algorithm.
It shall be
The Best Ever Algorithmic Societal Topology
-MobBarley
I enjoy your posts Mob Barley-
I am predicting an RFID chip implanted between the thumb and pointer finger that will hold all your medical records, financial records, and carbon credits (possible future money - right now our money is debt based but it could be based on anything since it is not connected to anything real). The bankers that are pushing this want to run the world without any possibility of overturning their monopoly. The subjects mood can be altered with frequencies for those implanted with the RFID chips (kind of high tech) and the lithium battery is self charging with the temperature changes in this part of the body.
Mood alteration would help change negative social mood, and increase consumer spending. Imagine the possibilities of behavior modification or having your chip turned off and being locked out of the system. Imagine amping frequencies to put people in a better social mood and avoiding a deflationary negative reinforcement loop by improving feel good moods and stopping the spiral (chicken and the egg). Imagine the power over man with complete control through the RFID chip. This is already in place and waiting for an excuse to implement. Biden himself told the Chief Supreme Court Justice that he would in his life time rule on mandatory chip implementation in humans. Watch the Aaron Russo video on his discussion with a Rockefeller on the plan.
Your post reminds me of Logan's Run:
Logan's Run is a 1976 science fiction film based on the novel of the same name by William F. Nolan and George Clayton Johnson. It depicts a Dystopian future society in which population and the consumption of resources are managed and maintained in equilibrium by the simple expediency of killing everyone who reaches the age of thirty, preventing overpopulation. The story follows the actions of Logan 5, a "Sandman," as he "runs" from society's lethal demand.
Does anyone else here watch stuff with Betty Liu because...well...it's Bett Liu?
Yeah, Im into Asian women. Betty is hot hot hot.
http://hatch.senate.gov/public/_files/UNClimateScientistsSpeakOut.pdf
The entire dollar based economy is bankrupt. Why would anyone want to hold dollars now? Dollars are IOUs. If a person can't pay you what they owe you, then that IOU is worthless. Buy gold while it's still cheap.
the key here is... there is not going to be " the next decade ." don't you peeps get it. let those who have eyes, see. let those who have ears, hear. the sheep still have their blinders on. the ONLY thing that is constantly talked about in this world is MONEY. MONEY. end game right around the corner.
"One of the rules of history is that policymakers magnify financial events.
The greater the intervention, the greater the volatility".
who said that ...
I am not as sure that gold goes up as I am sure that the dollar goes down - so I will buy TBT.
The ultimate portfolio -
25% Ownership of self sustaining ariable farmland in a rural community
25% Basic self sustaining food processing and refinement facility (ie ~ distillation) and / or access to good hunting and fishing.
10% Renewable energy sources
10% Localized economy
10% Portable wealth
10% Physical gold & silver bullion
10% Cache of copper coated lead / paramiltiary training & equipment for the ultimate "hedge"
You know, I really get tired of this guns&ammo talk; as if you're all going to hold off the entire population w/an AR & 500 rounds of ammo and a one-man 24x7 vigilance. If things ever really get that bad you're better off taking all that prep and joining up with a group instead of thinking that a long wolf will take on the world.
He's dead.
http://cgi.cnn.com/WORLD/9709/25/chief.long.wolf/
But I hear you.
I disagree. Arming oneself is the prudent thing to do. Nobody knows how this will play out.
exactly.
Plus guns and ammo are NOT RARE.
They are fucking everywhere. Go to Pakistan, buy an AK47 for $250. People are stupid if they think guns will be worth what we in this idiotic "brady bill" nation have to pay for them.
Ammo is everywhere, freakin Argentines are in a collapsed society and they got LOTS of it. Maybe not freakin high tech JHPs but sufficiently lethal ammunition is everywhere. The messican gangs have fking anti-tank rockets for fuck's sake.
Guns for WHAT? Personal defense, sure...but ppl who say "10% in lead and brass," whatever. If you had $100k, you are SERIOUSLY going to spend $10k on firearms?
There has NEVER in ANY society been a shortage of guns or ammunition - EVER.
It is time to let this one die. By Waterdog
Mot, everythin comes back to. GLD is a short term sell and a long term buy, nuff said. Roubini/ Rogers same as the rest, only as good as their last trade, save the lot at GS, JPM, BAC, doesn't really matter if they're ever right, cuz they can't go broke anymore, and this is the fate we've all gotta live with. One big Mfing FFJ if u ask this clown.
Has anyone else posted this?
http://seekingalpha.com/article/177967-nothing-like-the-real-thing-sprot...
RubinE is just shitting on it because he doesn't have a safe large enough to store HIS wealth in gold and if all hell breaks loose there will be ZERO NEED whatsoever for fucking idiot economists like him!
He's a fiat bull, he has to be. His entire living is predicated upon the fiction that what he teaches and spouts is real, when it's unmitigated bullshit. If this system of keynesianism and big govs and stimulus and fiat inflation ever dies, so goes his fucking career.
Let's see him load up on ammo and Spam; what a moron.
Maybe that wall of vagina's is his secret safe. He could like slip the coins in through the....
Never mind.
The USD rally I forecast has started.
The daily chart is bullish.
This may be a multi year dollar rally and will affect everything else of course.
http://www.zerohedge.com/forum/market-outlook-0
Dollar is going to rally into $3.5T worth of debt issuance?
And if you look at the duration curve, this will be $3.5T and rolling about every freaking year.
There's no way in hell they can lock this down for 30 years