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Jim Rogers Warns: Albert Edwards Is Right "Sell Everything & Run For Your Lives"
From Bitcoin to the Swiss gold referendum, and from Chinese trade and North Korean leadership, Jim Rogers covers a lot of ground in this excellent interview with Boom-Bust's Erin Ade. Rogers reflects on the end of the US bull market. citing a number of factors from breadth to the end of QE, adding that he agrees with Albert Edwards' perspective that now is the time to "sell everything and run for your lives," as the "consequences of [The Fed] are now being felt." Most notably though, Rogers believes the de-dollarization is here to stay as Western sanctions force many nations to find alternatives. Simply put, Rogers concludes, "we are all going to pay a terrible price for all this money-printing and debt."
Excerpts:
On US stocks:
This is the end of the bull market. Stocks will fall 20%
Market breadth is waning as evidenced by the lower number of stocks hitting new highs and trading above their 200-day moving averages. Small cap stocks have already corrected over 10 percent and almost half of the Nasdaq is down 20 percent – a bear market already.
Where is this headed? Consolidation is the bare minimum. But, depending on the real economy, it could be worse.
“Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse," he says.
On The Fed:
"We are all going to pay a terrible price for all this money-printing...
They are doing this at the expense of people who save and invest.
They are doing it to bail out the people who borrowed huge amounts of money. The consequences are already being felt.”
On de-dollarization:
The move away from the U.S. dollar is yet another reaction to Western sanctions placed on Russia since it annexed Crimea from Ukraine in March.
Russia and Iran have agreed to use their own national currencies in bilateral trade transactions rather than the U.S. dollar.
An original agreement to trade in rials and rubles was made earlier this month in a meeting between Russian Energy Minister Alexander Novak and Iranian Oil Minister Bijan Namdar Zanganeh.
Similarly, Russia and China also agreed to trade with each other using the ruble and yuan in early September, following a Russian deal with North Korea in June to trade in rubles
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How's that Chinese bet going for you, Jim?
even a blind pig finds an acorn once and a while
If you get oboelo from a plane flight and you can prove it who will pay for your cure and 21 day isolation.? Cost is over 500k
My dark horse 21st century bet (long term) is Russia. Haven't figured out how to play it but an entry point stemming from more upheaval may be coming. If they get their act together--the Chinese did--Russia could grow steadily for a very long time in a resource-short world.
I have fantasies about having a job interview with Putin and becoming his czar of industry; like Albert Speer for Hitler; I've got a list of things Russia needs to do to "suddenly surprise everyone" with a huge economic win. Basically, it involves going all in on a Russia for Russians program; lots of industrial production; they've been too lazy importing shit from Europe they could build themselves. Industry is the secret behind all modern wealth.
I don't know anything about any long times; but I'm waiting for the time to buy the ruble; it's on my list of charts to look at every day.
this
Is it even possible for her to be any better looking?
Do the opposite of what lil jimmy says, that's what he's going to do.
This guy always reminds me of Elmer Fudd for some reason.
Who has anything left to sell? They're all renting everything.
my neighbor's ex-wife makes $77 /hour on the computer . She has been unemployed for seven months but last month her payment was $15804 just working on the computer for a few hours. go to the website... www.job-reports.com
I don;t think this guy gets laid enough; he sure is a sour puss. "Sell everything and run"; that's kind of stupid advice, isn't it?
So, did Mr. Rogers sell everything? Is he running away for his life? Is Jim Rogers a prophet or a hypocrite?
I don't think ANY Billionaire type is going to put his billion in net worth into physical silver, farms and water wells. He made his big buck on growth and will keep a large chunk invested in the "system", doesn't mean he doesn't have plenty of bail out plans should things go wrong. What if he has $10 million in a get away survival property, silver and gold and food. He isn't talking about him he is talking about YOU, fool!
Rogers, Farber,Sprott et al. Tell me when they turn bullish.
They will be bullish when the governments get out of the way and allow a real correction
They will be bullish when the governments get out of the way and allow a real COLLAPSE.
fixed er for ya
Jubiliee for me and thee!
So, did Mr. Rogers sell everything? Is he running away for his life?
If you had actually watched the video, you would know that he did not make this statement...
He bailed years ago and moved to Singapore.
Thailand, I think.
dumb ass! Marc Faber is in Thailand. Jim is in Singapore
In 1989 when the Book " Market Wizards" came out, Mr Rodgers was Saying the same EXACT things about Japan's Stock Market and Real Estate. And it was an Amazing thing of BEAUTY to see them both Crash
Just like he Predicted.
I have listened to Rodgers for a long time. He tells you what he thinks. He has made fortunes. A prohet? A Hypocrit? He would say, call me what you want. So, Mr StormTrooper....you want to lay some money down? You want to make a bet? I'll bet with Jimmy that you will loose your ass. They keep digging at him to find out what this cagey dude knows. He doesn't do a Jimmy Krammer and give bull shit advise. He gives common sense attitudes. He is not begging. Most people are begging.
Are you implying he's "in the loop"?
I have listened to Rodgers for a long time. He tells you what he thinks. He has made fortunes. A prohet? A Hypocrit? He would say, call me what you want. So, Mr StormTrooper....you want to lay some money down? You want to make a bet? I'll bet with Jimmy that you will loose your ass. They keep digging at him to find out what this cagey dude knows. He doesn't do a Jimmy Krammer and give bull shit advise. He gives common sense attitudes. He is not begging. Most people are begging.
Deja vu
Totally off topic, but I want to start a farm and come home at night to that hottest journalist I've ever seen.
Lauren Lyster is hotter
She's awesome...miss her RT show. Was the best thing going while it lasted. Now she's lost in the uselessness that is Yahoo...sad....
Lauryn Lyster is another media whore. A fucking presstitute.
ABC Yahoo knew how to shut her up. They offered her the big bucks with a contract and promised her the limelight on the big stage. Once she signed on that dotted line for the money then they just pulled the plug and restricted her reporting to the lame.
She sold out for the money instead of pursuing the investigative journalistic hidden truths. The money was too enticing and her personal greed got the best of her.
She is just another fucking whore in an attractive body...a high class piece of ass for a price which is worthy of disdain and contempt.
all you have to do is f**k
after that you get the big buck...
yes, she pursued "fuck you money"
Tom, your comments are usually stupid but this one is actually retarded.
None of these talking heads are actually news reports, dumb ass. They are just teleprompter readers. Someone else reports the news and it gets typed into the teleprompter. So she was never reporting and cannot be sell out.
If all you do is sit around and look pretty, and read someone else's words, you should at least do it for the highest bidder.
I think a baldwin and that d'bag russell brand were on max keiser the other day. What the hell is going on?
That was my exact thought word for word when I read the comment (and watched the video)
Derdre or Betty are hotter then both
Not crazy about her nose job.
She has a nose? I didn't notice
Blondes are overrated.
The show is evidently called Boom-BUST for a reason.
You should see her sisters: Lymonne, Bannde, and Foranne Ade.
Since 'everything' would include silver, I would beg to differ with old Jim.
I think he means paper assets, and 'everything' is just a melodramatically poor choice of words.
Only 20 percent drop, but run for the hills?
Funny, I have not seen that word the last few days : collapse, saving it for something this time around?
I have no confidence in the system, the fake recovery, or the odds of sustaining king dollar for ten more years. I try to plan as though black swans/collapse might happen tomorrow.
Interesting that he doesnt mention anything about gold. Guess he has forgotten about it by now.
YAWN!!! What? Jim? How many years you gonna beat this drum??
“I made my fortune by selling too early” - Baron Rothschild
http://img.pandawhale.com/103628-Breaking-Bad-Walter-White-RUN-BF4C.gif
He'll be right one of these days.
he's already right.
the market is just a bit slow to realize it.
Sorry, pal, market says you're wrong. Down to the hundredths place. +296.17
Frustrating when you're wrong for being right, isnt it?
Totally on topic: when everyone assumes the Fed will do QE 4 and cause a bubble, that's the time they will finally fail spectacularly.
"Fed announces QE 4, market tanks." The End of the Fed Delusion.
Sell, sell, sell.
I agree.
I've looked at this chess board from I think about twenty different ways now.
I do think that Fearbola will put a VERY strong bid in the dollar. The Bucky is an asset class and if the Greenback continues it's massive rally from last year...and I think it will...that will take liquidity away from equities.
Treasuries look like Elon Musk test firing the rocket engines just prior to launch. With German Bunds at WELL under 1% now treasuries will not in my view be far behind.
Ebola does not kill quietly...and in theory at least there is more than just a quantity problem. For example...breast feeding becomes deadly yes? Pilgrim Pride got crushed today.
There is no way we don't already have an outbreak in New York City.
Move along...
Who isn't a dollar bull these days. The bulls like the dollar. Even the bears like the dollar.
Just like the bears hate gold and even the bulls are hating giold.
Who are you kidding? If the Fed announces QE4 the equity markets will ramp up faster than you can say boo....
If she was on my farm there would be a whole lot of plowing goin on
Ploweth thee thy furrow and planteth thee thy corn.
talksalotsaysnothing
I am quite willing to listen to everything he has to say......As long as I can keep watching those bodacious ta-ta's straining to be freed.
And that sounds really weird unless you watch the video...
Don't think Soro's ex partner is going to pay exactly the same as the rest of us. That sucker is short at this time. I know it. I know it. Saw an interview with him on Alex Jones once. A little twisted but he's not too bad.
Ah Sheesh, get ready for a new all time high. Rogers is the self-proclaimed worst market timer.
Everything he said is either coming true now or will, just a matter of timing.
Flock Herding 101:
Sheep have a strong instinct to follow the sheep in front of them. When one sheep decides to go somewhere, the rest of the flock usually follows, even if it is not a good "decision." For example, sheep will follow each other to slaughter. If one sheep jumps over a cliff, the others are likely to follow. Even from birth, lambs are conditioned to follow the older members of the flock. This instinct is "hard-wired" into sheep. It's not something they "think" about.
http://www.sheep101.info/flocking.html
Good, or bad for the sheep; just ignorant of thinking creatures like people.
This Ebola "epidemic" is just the latest evidence of ignorance.
Despite all the prior lies and bullshit, people just throw skepticism right out the window.
Fake or real the sheeple embrace whatever increased tyranny the government throws at them so long as it's shrouded in FUD.
Just ridiculous.
An American, not US subject.
"I critically think, therefore I am."
Cogito critique ergo sum. DesCarte would have liked that. Unlike today's Frenchmen who don't have much logic.
And yet other animals (unlike humans) have the sense to run from impending disasters:
http://www.telegraph.co.uk/technology/3337851/Did-they-sense-the-tsunami...
http://www.zerohedge.com/news/2014-10-09/albert-edwards-asks-if-bond-vol-can-surge-result-rising-bond-prices
Vol Increases when bonds Rise, like 5 points on 10/15...
I would bet that he should switch to driving cars without computers and check the brakes before each drive.
An American, not US subject.
Hard to believe that old farts still driving a car.
Einstein was a blind nitwit. He didn't understand where movement takes place and where not. That's why he died cynically. There is no need to run for your live since the true self is eternal. Einstein was blinded by maya, God's illusory capacity. Mystic yogi's, what to do with them? Indeed, pity them for they know not what they are doing. Hare Krishna.
Thanks for that. I guess. Please translate.
Just study and apply Bhagavad Gita As It Is and Vedanta Sutra. Then your live translates into reality, you go beyond the limited scope of cause and effect.
LIFE, dipshit...LIFE...it's spelled LIFE...twice you can't spell the fucking word right??? You can spell Bhagafdadvada Gita and shit like that and can't get the fucking word "life" right???
okay anyway...shut the fuck up. LOL ;-)
Now that is funny! Thanks for the laugh before going to bed.
Well stupid, on that level there is no perfection. But childish persons seek it there anyway. Recall your actions on that level just for one single day. You would have to commit suicide. Please, go ahead.
Just study and apply Bhagavad Gita As It Is and Vedanta Sutra.
No thank you... With over 5300 deities worshipped on the planet today and with over 1000 of those being Indian, I've had my fill...
Yeah. I wanna be this guy, an Indian Sadhu:
http://media4.picsearch.com/is?WC89BAjHFE8SEwwXU4MzmdbrQr_h-wEYDGQPs1Jpg...
Translation: "I forgot to take my Lithium."
Again drunk "ebworthen"?
You type like a jew.
Nope, sober as the sunrise.
No my brotha, don't gulp, just inhale slowly... Yeah, that's better. Now try rewriting that post, it should be much more intelligible.
shut the fuuuuuuuuuuuuuuuuuuuuck up. lol
The parasites are run amok.
That's how an infestation works...
few understand...this was all planned to bring the U.S. to a third world country. Their biggest problem was the U.S. Indivisible, under God etc. So they killed all that was good thru vaccines, fat foods, indoctrination camps, they call education, the media, hollyweird etc. etc etc. Now that people are so stupid they can come in for the kill...I would not be surprised if China and Russia are all part of the NWO agenda...But they could not accomplish their NWO without brining the U.S. down and it took them over 100 years to do it. Its coming now tho. They are through with us fighting their wars etc. I hope you get the point. It is about over. We are fricked
Just remember what gandalf the jew queer said "There is always hope" or was it "This isn't the end" or "Nothing is over until we say it's over" Bluto or "They'll have to kill me before I die" yellowbeard.
Buckup lil buckaroo you may get hit by a car tomorrow.
Not Marks, not Lenin, not Mao, but Saul Alinksy
Dig a little deeper... Alinsky was just a messenger... You might try researching who sponsored Karl Marx...
You think you tylers could get Marc to do this same interview?
SELL EVEYTHING and I will BUY IT ALL!
Asshole.
More complex , more opportunities .
See
https://www.academia.edu/8816411/Rogue_Swan_EU_disintegration
Obolanomics, what do you expect from Barry Soetoro the hopey changeee poser leader.
The Manchurian Perpetual Candidate
"we are all going to pay a terrible price for all this money-printing and debt."
Many already have paid a terrible price through wild market swings like 2000's massive crash, 2008's 30% correction, and 2010's flash crash, the bursting of the housing bubble in 2007, and depletion of savings through seven years of ZIRP coupled with high inflation. At the same time, the real value of Social Security payouts has shrunk dramatically.
One more financial wipeout and it will be game over especially for retiring and retired Baby Boomers.
Financial wipeout is the reason Putin doesn’t want the dollars, China doesn’t want the dollars, and I don’t want the dollars.
Why? Their usefulness as stored labor has melted into a ticket to slavery. Either run for your life from the Fed and its financial terrorism as Rogers says, or continue on down its “road to serfdom.”
Scandal, fraud, and lies pretending to be statistics are now parachuting in from all sides of our economy. And the currency mobsters always seem to be the chief suspects… such as in the tragic student loan sideshow that is corrupting the educational aspect of America’s economic system.
“Money is stored labor. Labor is part of life. To control money is to control life… When the state declares the exclusive right of the issuance of money, freedom is impossible.” – Hugh A. Thomas.
What kind of sound money system is it that allows private bankers to print and control the currency in secrecy, issuing it at zero cost to non-producers such as themselves, i.e., Goldman Sachs and Chase, who then use it to take over complete industries, commerce, and markets –thousands of competitors big and small -- and then profit further by devaluing the currency as a store of value for the producers via monetizing and negative interest rates that rob stored labor via money inflation? At the same time, the currency tyrants throw the economy further off balance by issuing themselves money at zero interest to make usury loans to creditors, therefore, making it unnecessary to pay out interest to attract term deposits from savers for their loans.
Thus, they impose their name on all that surrounds the free and honest dealings among men.
This is not capitalism. It’s racketeering, banksterism. The tyrants want, via the creation of central banks and paper notes, to bypass the tedium of labor of mind and body that changes materials into life-giving commodities, to capture the most liquid form of productive labor, through thievery.
Here is Hugh A. Thomas on the greatest fraud in man’s history.
“Money is a generic commodity used as a vehicle for labor storage and labor exchange…man needs to be able to store labor in order to rise above a day-to-day existence…in order to gain the specialized labor of other men without the use of force… When governments get into the money game (governments acting on behalf of the racketeers), they do so in order to rob people of their accumulated labor… With money having been replaced by fiat paper, with central banks manipulating production by credit expansion, the true meaning of money has little chance to be understood… there is no way for people to see that their stored labor is being captured by the government in a slow process of fraud… If there is a common thread to the nature of governments, it is the control of labor by force or fraud (without themselves having to experience the pain of labor). This tendency to control and enslave is by far the uniting feature of government action…. Why take slaves when the manipulation of money will accomplish the same goal?... Those who wish to bypass the tedium of labor can either die or steal. Inflation comes under the heading of the latter alternative. Inflation is a sophisticated form of stealing made possible only by its complexity and false definitions of money (as a medium of exchange)…. When governments place their name on money, they are placing their name on the most generic form of private property, on the most commonly exchanged commodity… The most damaging consequence of this action is that governments have taken control of the most exchangeable form of life, which is the most important aspect of money and its relationship to trade. (The medium of exchange was the ability to deal with others through the medium of agreement rather than the medium of force. The common factor of the items exchanged was the factor of stored labor.) The medium of exchange is morality. Money, i.e., stored labor, is never in the middle of the transaction, it is never the medium. It is always on either side of the equation of exchange…. Money does not circulate…it exchanges.
“When one applies the idea of money as being stored labor to the historical record, many events that were formerly chaotic fall into conceptual order…
“Money supply is labor supply… To control money is to control life.” -- Excerpts from STORED LABOR: A New Theory of Money, 1991 by Hugh A. Thomas
Thank you JR- this is why I come to Zero Hedge comment section. You may have to wade through some blather and downright hateful comments to find gems like this but when you do it's worth it. Take care- thanks again.
Were you crying when you wrote you post to JR? You sob sister...
Sometimes truth comes through tears.
Exactly clowns
a cut and paste whingey diatribe that can be found on most ZH threads for the last 4 years.
guaranteed to get a few greens from the preppers
nothing against JR - its just been done before many times.
and it doesn't hold up - it sounds noble but its bollocks in the real world and clowns knows this.
if you want some true original thinking see if you can find Col Kurtz on ZH.
The dude posted about 20 times in all but every post was zen
and here is another point of view that explains why the state can control fiat without controlling liberty:
http://fofoa.blogspot.com/2011/05/return-to-honest-money.html
"Why take slaves when the manipulation of money will accomplish the same goal?" Excellent.
Superb JR
Great summary of my own thoughts and some things I haven't thought of. Thanks JR
I don't know.. Rogers makes some good calls. He does also admit he's terrible with timing. I think he makes a good point on poor policies driving foreign governments in the other direction.
What he predicts will likely come to pass, but I am not convinced the bull market in stocks is over yet. I disagree there. I maintain it can still go much higher in the short-term based on unraveling bond markets.
Having said that the longer term game is not looking bright.
So the rich are the ones buying shampoo, laptops and ice cream. Now I see why the market is going higher. They'll have to really buy alot to keep there companies from going tits up by christmas because the rest of the world is broke. imho
I've gotta go look at free stuff on craigslist and see if I can find something made of wood so I can heat my shack this winter.
The market is going higher because:
1. The Fed put an artificial floor on it with QE which has lead to corporate buybacks and so on.
2. The international bond markets are about the get cratered after an epic bull run (30 odd years), making equities the "go to" place for big capital. Not too many other markets could even absorb capital on that scale. They lack the liquidity to do so.
3. The rest of the world is currently going to shit. Meaning that most (fairly unimaginative) institutional investors are going to run to the countries that are historically thought to be safe. See: US.
4. Bubbles are also somewhat self-perpetuating.
As for company sales, well.. welcome to the post-financial crisis paradigm. Where traditional logic goes out the window because of a (mis)managed economy. There are so many 1s and 0s in bank accounts that inflation seeks financial assets irrespective of real economy fundamentals.
Most of the stuff I see around in the present day current affairs is like trying to decode the inner workings of a Salvador Dali painting. Ultimately it's just surrealistic madness and nonsense.
LOL. How could this link not have been posted yet?
Run to the Hills (Run for Your Lives) - Iron Maiden
http://youtu.be/eDd-GXkMrJs
This economy is as fucked as my bowtie is fancy - very.
There will be a moment -and I think it will be soon- when when all assets will get marked down substantially.
The Dot-com bust was followed quickly by the 9-11 sabotage which ratcheted down the value of everything. The collapse of Lehman was followed by a collapse of derivatives, then real estate, then moneymarkets which crushed everything.
I anticipate that the economic warfare being waged against Russia, which has dragged Europe down, now coupled with intensification of sectarian warfare in the Middle East, is already too much for the global economy to bear. Obamacare and Ebola scare are causing a distortion in how we allocate resources. Political gridlock will become political turmoil.
Rogers is right. Marc Faber and Jim Grant are right. But only about how bad things are and how bad they are going to get. There is no safe haven. Not in bonds. Not in Oil. Not in Gold. Not in Real Estate. Not even Corn or Copper.
If we are going to get deflation, then dollar deposits will be most precious, keeping their purchasing power even as the dollar's exchange value may go down. Otherwise, it will be just a really bad time for everyone, but for a very few traders.
Deflation will significantly stress the banks which are leveraged to the hilt ... holding cash is good, but where is even more important. What banks have not chosen to follow the heard?
THere are several regional banks that have avoided the most drastic derivative-based gambles. PNC, TD, CMA, USB, NTRS are reasonably good choices. Among the bigger banks there is only BK to consider. However, if one keeps his/her deposits to less than $250,000 per institution (the FDIC limit), then the risk is only a question of whether the US Government will continue to function. Personally, I think that JPMorgan (JPM) Chase and Goldman Sachs (GS) are so imbedded in the Treasury and Federal Reserve that they won't fail unless the governemnt itself fails. (These are not recommendations, of course. Just considerations, which are provided because you asked.)
http://www.europac.net/
Curious to get ZH's opinion on Irwin Schiff's son's game.
Interesting that Jim said nothing about the US and Saudi meetings and deal re Oil prices to hurt Russia.
He only needed to be right once. You can be a bull and be right 99% of the time, but it only takes being wrong once and it's all wiped away.
If you know it's going to go down but not when you can either try and ride the ups and downs to the final moment or - if you're already rich and don't want the stress - just figure out what will be good when it all goes down and then chill until it happens - like Rogers did by moving to Singapore and getting his kid to learn Chinese.
JR has been saying this since Dow 7K. How's that been working out?
The problem with the doomsayers is that no one gives a damn what they say until we're in a downturn for a couple of months. Confirmation bias anyone?
Here's a prediction. We go a steady slow climb up till S&P 2100, and no one will interview Roberts untill we pull back to 2050. Then he will look prescient. Or not.
Jim Rogers isn't "important enough to get in on the Alibaba initial offering"? The "Billionaire" lives in Singapore! This makes me not important enough to get in on the last run on toilet paper! Shit!
Run where?
On Greg Hunter's YouTube channel, John Williams, of Shadow Stats says, "We're coming to the end game".
My fucking lord!!!! I would pay 1 million bucks to fuck that Erin Ade chick. Jesus Christ.
Give it half a decade and 1 million bucks might be the minimum wage ;)
Pay me a million and I'll hook you up with a trio of Russian chicks that blow her out of the water.
They can blow that hard.
Mind paying in gold bullion?
Run for the hills and sell everything for what?
I have a cheap wife forsale..
20% decline? I'll take that! De-dollarization is a good thing. It will force Americans to face up to the fact that they are no longer economically competitive and they have been living beyond their means.
I think what Jimmy is saying is that thar doodoo is gittin awfully close to the fan. Thats the economics, toss in a spot of Ebola and maybe WWIII for added excitement.
Jim Rogers
2009 "Stocks are going to fall 20%"
2010 "Stocks are going to fall 20%"
2011 "Stocks are going to fall 20%"
2012 "Stocks are going to fall 20%"
2013 "Stocks are going to fall 20%"
2014 "Stocks are going to fall 20%"
2015 "Stocks are going to fall 20%"........................................
the chick is very annoying...pushing her own image and agenda rather than interviewing. Rogers picked up on that a few times and pushed back.
I'm short Jim Rogers.
how fucking cute is that chick?