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Jim Rogers Blasts "Abolish The Fed" Before It Self-Destructs
"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"
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I like women lean, but someone needs to feed Erin. She has a face like Skeletor.
I find it very ironic that, in the human condition, people at the bottom(prison camps, extreme poverty) and at the top both look like skeletons. Go figure
Life lived was not dread,
When JFK led with his little head.
Jim Rogers is highly over rated.
Call that "hot"? You guys wanna get out more.
Dime a dozen in NYC...... yaaaawn......
"Hows about RT's Abby Martin?" I hear you say - now you're talkin!
That was actually a really good interview, Erin kicks ass!
Roger's China centric ramblings is cringe worthy though.
"the Fed will self-destruct, before the polticians realize what is going on."
Me thinks that was the plan all along.
So, I guess the banks don't have to compete? They can just agree that they are all going to start charging depositors?
They don't have to explicitly agree on anything. In poker tournaments it's sometimes referred to as unintentional collusion. Plus, large international depositors are pretty much stuck using a money center bank. None are going to hold the funds at a loss, and FDIC insurance isn't free.
http://www.fdic.gov/deposit/insurance/assessments/proposed.html
Mercy! What did Jim say?
Yea, the same crowd that buys bitCon buys airheads in leather. Predictable.
Over.
Bit coins are a fiat fiat. I own none, fool.
Quick, go buy some and give it to leather skirt, jerkoff.
Over.
rich people, politicians included, dont care, they are and still will be rich. Poor people's problems.
I'm shocked all you guys are panting over this one. Seems pretty average to me. I guess with all the land whales out there now she is drop dead gorgeous by default. Mr Miffed would walk by and not even notice her. But if Rachel Welch were with in 20 feet he'd pass out from his massive salute. I'm fortunate I have Rachel's approximate measurements though I'm a 36D vs a 38C and her derrière is more shapely. I need to do more squats and lunges!
Miffed;-)
Skirt, blonde, babe? You must be gay.
Air head ??
No, I have never leaned to lesbian at any point in my life.
Miffed;-)
pictures or its all BS :D
Don't tempt me funny boy! Of course i could send you pics but how do i prove they are me? We were in a lingerie shop yesterday and my measurements were taken because Mr wanted to buy me a Chantilly bra, panty and garter belt set.The proprietress stated I was very unusual today because of my voluptuous figure. Most women today are obese or rail thin with no waist. We looked up Rachel's measurements and I was surprised they were close. I do need 10 lbs off to get my butt looking better in that $200 naughty outfit though. Came out of Mr Miffed's "Hobby" budget. Funny how he is so damn cheap in everything except things involving the bedroom. ;-)
Miffed;-)
speakng of wood, I'd like to lend him my board of education
I've got morning, afternoon and night wood. Sometimes I think I need a vacation from the forest to walk straight. That board would surely whack me to a new level.
Miffed;-)
lol...I love the way she has it all "kicked out of gear" in the second pic with the stiletto heels.
Now this is how a sober interview on a weighty subject is conducted! ;-)
I wouldn't give her a second look either...
Also off topic, or maybe not since Roger is obsessed with China. There was never going to be Iran conflict, Saudis are losing influence over America re: oil
This is where the next major superpower war/skirmish will take place. Getting nasty by the sec:
*China bolsters claim to islands that Japan says it owns
*Warns of "defensive emergency measures" if aircraft fail to identify themselves
*Xinhua publishes map for "East China Sea Air Defence Identification Zone"
*(Senkaku/Diaoyu remains a risk between the N.Asia powers
*Japan scrambled fighter jets Saturday against 2 China reconnaissance planes
Any-day now.
Dear Erin, why don't you come on my facebook anymore?
This know-it-all must have lost a fortune on gold and commodities.
"It might work for a while but eventually the politicians will cheat that too"... "people will be desperate in the next decade to try anything - maybe it will be bitcoins"
+1
Speaking of gold... i wonder if she shaves that snapper...???
It will be very hard to end the Fed now, TPTB are still working on enslaving the entire world population. They want massive dept payments from all.
I've seen her before! Does Erin Ade work in Hunts Point on the weekends?? No wait, Tunnel Bunny?
Over.
Have to say that Mr. Rogers is talking his book, especially on commodities. Corn futures hit new 52-week lows last week, so his "over-consumption" argument isn't exactly bourn out by the facts. He's been famously bullish on commodities for a long time, but he's maybe getting too old to figure out that he may have missed his best selling opportunity. Witness his bitcoin statements. He is not capable of making a coherent argument for or against it.
Well past his prime, I'd take Rogers' commentary with excessive grains of salt. Everybody's due to be wrong now and again, and doddering old guys are probably wrong more often than people with their wits still about them.
Did like his comments on the Fed, though. He's right about its self-destruction. Just hope they keep buying those MBS at par, when they're really worth 40-70% less.
Fuck the Fed. Yellen will be their last chairman, and no, I do mean chair "man." To paraphrase H. Youngman, "that's no lady, that's my husband."
He's talking about credit creation.
I think shes trying justttt a little to hard. I seen girls waiting for buses and trains that looked better.
Where do you waittt for your trains and buses?
http://wallstreetonparade.com/2013/11/fed-minutes-reveal-a-dangerous-pow...
"Back on October 31, wire services reported that the temporary dollar and foreign currency swap lines that had been put in place between central banks on a temporary basis during the financial crisis had been turned into standing arrangements.
The Associated Press explained the action as follows: “Six of the world’s leading central banks, including the U.S. Federal Reserve, say they will provide each other with ready supplies of their currencies on a standing basis, extending arrangements set up to steady the global financial system during post-2007 turbulence.”
In other words, without public deliberations, an action that was adopted as a temporary, emergency operation, now had become a permanent part of world finance – on the basis of minutes and details yet to be seen by Congress or the general public."
This young woman gives new meaning to "You can put lipstick on a pig .... " you know the rest.
I miss Lauren Lyster ...
The Yahoo Queen is tops
Looking for a girl with a short skirt and a long jacket.
"Warburg" - jeez they don't even try to hide their bankster roots