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Jim Rogers Explains To Bob "Not a Cheerleader" Pisani Why He Is Short Stocks, Long Commodities, And Wants Europe To Fail

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Fri, 09/09/2011 - 15:51 | 1652229 sqz
sqz's picture

"It would be good for the world, though, if they let people go bankrupt."

- classic :)

Fri, 09/09/2011 - 16:02 | 1652281 Pladizow
Pladizow's picture

There is nothing any government can do to prevent the ultimate paper ponzi collapse.

Everything they do simply delays it and makes it worse.

So - buy gold & Silver.

Fri, 09/09/2011 - 16:12 | 1652316 redpill
redpill's picture

Pissanti is just trying (and failing) to make sense of the world when viewed through his permanently affixed momo-rose colored glasses. Not surprisingly, he thus finds it difficult to understand the actions of an awakened realist like Rogers.

Fri, 09/09/2011 - 16:21 | 1652363 spiral_eyes
spiral_eyes's picture

Undoubtedly, policy makers will be looking to stabilise the market. This is absolutely the most anti-capitalist thing imaginable: for capitalism to work, good ideas must be rewarded, and bad ideas, risky and fragile systems must break. For far too long bad decisions, bad management and dangerous corporate behaviour has been rewarded with taxpayer bailouts, crony capitalism, and subsidies. And quite simply, until those practices are rewarded with utter abject failure we are totally fucked.


Fri, 09/09/2011 - 16:52 | 1652466 Herd Redirectio...
Herd Redirection Committee's picture

Intervention just makes the mess bigger when it does happen.  Its nature's basic response to persistent denial.

Check out the latest from the CRI "BiMetallic Standard, FAQ":


Sat, 09/10/2011 - 00:17 | 1653648 FEDbuster
FEDbuster's picture

Loved the look on Pisani and Faber's faces when Rogers said "Bernanke is lying, he is in the market.  He has lied before".  Steve Liesman may have crapped his pants, if he was watching that exchange.  The Bernak lies, blasphemy.

Sat, 09/10/2011 - 11:32 | 1654387 Marco
Marco's picture

Those behaviours have been rewarded with utter abject success already. If it collapses now they will still have won. TPTB own a lot of paper which will lose value in the collapse, but they also converted vast amounts of that paper into commodities, real estate, non luxury producing companies, gold etc. etc. etc.


Just because they created debt to facilitate theft doesn't mean they are completely dependent on it to retain wealth ... they are only dependent on it to keep stealing.

Fri, 09/09/2011 - 16:30 | 1652397 TheGameIsRigged
TheGameIsRigged's picture

Ahhhhh, good ol "Pom Pom" Pisani....the biggest clown out there.  Has he ever said ANYTHING bad about the market?  Ever?  He should be fired.

Fri, 09/09/2011 - 17:38 | 1652591 Fish Gone Bad
Fish Gone Bad's picture

Pisani is not the biggest clown, that title would belong to Cramer.  And not just a Bozo type clown, but a Shakes-the-clown.  Throw in some Maria B as well.  Did she get a new makeup gun?

Sat, 09/10/2011 - 11:00 | 1654316 FEDbuster
FEDbuster's picture

Shakes the Clown, an all time classic movie.  Time to re-watch that one.  Cramer is more like Binky though.


Sat, 09/10/2011 - 11:15 | 1654355 Bam_Man
Bam_Man's picture

She borrowed Lilly Munster's.

Sat, 09/10/2011 - 08:47 | 1654135 RSloane
RSloane's picture

He's getting paid to be a moron. For him, its big bucks for what comes naturally.

Fri, 09/09/2011 - 16:53 | 1652472 Dingleberry
Dingleberry's picture

Piss-Ant is a homo.

Fri, 09/09/2011 - 22:58 | 1653406 Landrew
Landrew's picture

He isn't man enough to be a homo!

Sun, 09/11/2011 - 11:22 | 1656082 kumquatsunite
kumquatsunite's picture

I'm not much for the Jim Rogers "it's all going to hell" view of the world. We still have the greatest nation in the world, amazing land that yields a bounty of fruits and vegetables and beef and such, ad infinitum. Further, especially on this day of 9/11, the single best way to defeat any terrorism is to build America back up and instill, once again, the values that made this country great. Hard work and perserverance. Rogers is just manipulating the markets via appearance on CNBC; really, doesn't CNBC try to find "new faces" rather than constantly going to Jim Rogers and the mad "doomer and gloomer" (what IS that guys name with the thick accent who lives overseas?). Alternatively, Mohammed El-Erian seems to be trying to work this through...any way the point here is stop acting like a bunch of pansies and get to the job of making work again. Time to stop acting like the world has ended; I have a grandchild on the way so that talk really pisses me off. 

Fri, 09/09/2011 - 16:27 | 1652385 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1860 and green

Buying gold and silver is the best way to protect our assets.

There is no way out of the box.  .gov cannot do it, we as individuals can do little.  We can buy gold though.

Fri, 09/09/2011 - 16:56 | 1652484 JW n FL
JW n FL's picture



non-toxic ammo can save your life as well you are supporting your purchase of commodities! (in some cases)

Sat, 09/10/2011 - 10:53 | 1654320 FEDbuster
FEDbuster's picture

Most ammo prices are up 150% over the past 10 years, it stores well and is recognized around the world.  "Brass and lead, the other precious metals".

Fri, 09/09/2011 - 18:46 | 1652775 Snidley Whipsnae
Snidley Whipsnae's picture

Gotta love this... Rogers: "Long-term forecast on the u.s. dollar is disaster, catastrophe. Having said that, as i said on cnbc several times in the past few months i'm long the u.s. dollar. The only reason i'm long is because everybody in the world has been terribly pessimistic. Whenever that happens you should take the other side of the trade. I'm long US. dollar. I have no confidence in it. It's going to be a disaster."

Rogers is sharp. He is saying 'dollars in the short run'... and, with the Euro currency on the verge of a big fall, if not collapse, Rogers will make money on dollars...

But, Rogers knows that dollars are 'a disaster' for the long haul. Rogers points out that M2 has taken off after Bens last speech...as Rogers says... Ben is 'lying to us and he's printing now'... got gold? 

Fri, 09/09/2011 - 20:07 | 1652996 WonderDawg
WonderDawg's picture

So you did watch the video clip.

Fri, 09/09/2011 - 23:14 | 1653445 Crisismode
Crisismode's picture

Excellent recap, Snidley!

Sat, 09/10/2011 - 21:46 | 1655512 frobn
frobn's picture

"Long-term forecast on the u.s. dollar is disaster, catastrophe."

Long term forecast for all fiat currencies is disaster. Better hope the dollar goes last, without it its the end of world trade and our consumer life style as we know it. I have some PMs but I an not so sure about gold being as safe bet as most here seem to believe. If all you have is ounce of gold what are you going to do when you need to buy a loaf of bread?" Don't forget whatever government is in place when the dollar crashes will be able to tax gold or levy a high transaction fee when you try to redeem it for whatever it's worth in the new currency.

Sun, 09/11/2011 - 11:27 | 1656097 kumquatsunite
kumquatsunite's picture

Bernanke is just building the bridge from "yesterday's mess" to tomorrow's success. Rogers is such a jerk...can't stand the guy. Bernanke will be seen in the future as the guy who saved the world. As to downgrading the dollar, Voila! This is simply a result of all the irresponsibility of (especially) the last decade, so don't blame Bernanke for doing what has to be done to keep the wheels spinning until the new new can be implemented. The dollars is just a contract of agreement regarding what things are worth anyway; just as gold or silver is a contract of agreement as to what things are worth. And if you knew what I think of gold (and its future) you wouldn't be so interested in it...just saying.

Sun, 09/11/2011 - 13:29 | 1656589 prains
prains's picture

Cheney must be hero of yours as well

Fri, 09/09/2011 - 16:07 | 1652304 centerline
centerline's picture

actually, they are...

Just that it is everybody, all at once!

Fri, 09/09/2011 - 16:17 | 1652330 ebworthen
ebworthen's picture


However, the only people allowed to go bankrupt in the new ponzi kleptoligarchies are families; they are being pushed to bankruptcy for the sake of banks, insurers, and the governments that supposedly represent their interests.

Fri, 09/09/2011 - 18:27 | 1652712 Oracle of Kypseli
Oracle of Kypseli's picture

Bunkruptcy is a good thing in an strange way. It's a catharsis for making mistakes and starting over and thank god it is available. Long time ago, you would be a debt slave for the rest of your life. In Spain, a house mortgage can not be dismissed by bankruptcy. The people who have defaulted immigrate in other countries and start over.

Student loans are now recourse loans and are exempt from bakruptcy. Thanks to Obama

Fri, 09/09/2011 - 18:52 | 1652792 Snidley Whipsnae
Snidley Whipsnae's picture

Oracle... Lest we not forget debtors prisons? England had no qualms about throwing the 'gentry' into prison when they borrowed more than they could repay.

It is only the modern 'gentry' of banksters commiting outright fraud and theft that avoid all sanctions...So far.

The US needs to hire a real smart, bull dog attorney general and turn him/her loose... Someone like Pecora.

Fri, 09/09/2011 - 20:43 | 1653067 blunderdog
blunderdog's picture

Student loans have been exempt from bankruptcy for a long time--way before Obama.  I thought it was Clinton did that.


Sat, 09/10/2011 - 02:08 | 1653815 eureka
eureka's picture

By "people" Rogers meant ANYONE who has made a bad investment - I.E. NOT "Europe" in particular as Tyler's STUPID headline not just implies but claims, but rather ALL banks, bond holders etc - ANYONE who bought crap or lent fiat to entities who clearly can't pay back.

THAT's what Rogers said.

Sat, 09/10/2011 - 02:14 | 1653824 eureka
eureka's picture

Rogers does not want Europe to fail. KNUCKLEHEAD, whoever you are who wrote that headline.


Don't put stupid words in Roger's mouth - don't slam EUR - that's just pathetc US hegemon garbage talk.


NOW, ADMIT IT. Thank You.

Sat, 09/10/2011 - 08:52 | 1654143 RSloane
RSloane's picture

He envisions another EU rising out of the ashes and at that time he will buy the EURO. In that respect he does not want the EU to fail and just lay there in the ruins. He wants it to get up, reform, and walk the talk. I agree with you to the extent that Rogers does not want the EU to die and go away, he wants a reformed, new, improved, better cleaning action EU.

Sat, 09/10/2011 - 09:33 | 1654202 Léonard
Léonard's picture

Thank you Eureka for pointing that out.

I'm a bit disappointed by Zero Hedge. I love you guys, you're doing a fantastic job but you really mislead ZH's readers here.

Greece's default doesn't mean the end of Europe and the end of the Euro will not mean the end of the European unity and the end of the European economy.

I know you Anglo-americans don't want it and are doing everything to hide the end of your empire, but in fact, China and Russia strongly believe in the Euro, in Europe, and are dumping the dollar and the USA.

You gotta be used to it. You can't f*** indefinitely the world and expect to stay at the top. You had your time. You made a lot of money during the last 60 years but now the wheel is turning. Europe and the world don't want to be your vassals anymore.

Sun, 09/11/2011 - 11:33 | 1656120 kumquatsunite
kumquatsunite's picture

So disagree with you: Russia desperately wants/needs the US to be strong: we are their foil to China. Russia knows that without the US, they would be taken over by China and it would just be one giant Chinese world...China is in the deep dodo know; when you take millions upon millions of people off the land and put them in factories, and then those factories begin shutting down as their is less exporting, where do those people now go? China has one of the greatest messes in history developing right now. As a "shopper", I can tell you that their are many items in the stores that used to be there, that are no longer there. Limited selection is the new new. Time to get those factories built in America and I am betting that this country becomes bigger, stronger, better and a leader to the world as never seen before. My middle name is Jingoistic.

Sun, 09/11/2011 - 13:34 | 1656599 prains
prains's picture

You mean your middle name is actually sheeple

Fri, 09/09/2011 - 15:52 | 1652230 Cult_of_Reason
Cult_of_Reason's picture

Fed's Bullard: More Bond Buying Best Stimulus Path


Fri, 09/09/2011 - 16:08 | 1652303 max2205
max2205's picture

Another false statement from Denninger: Germany's DAX market relative to the United States just hit a five year low today.


Ah ummmm I think it might be 2 or 3


edit: missed the relative thingy...have to check...buy spy short dax-winner winner chicken dinner

Fri, 09/09/2011 - 16:49 | 1652454 MarketTruth
MarketTruth's picture

Easy solution, avoid him/his site. Waste of time reading that market cheerleader who still believes in the system. Plus he needs to call his paid membership GOLDman Sachs.


Long ago he was ok, now he is a laughing stock of many online professionals.

Fri, 09/09/2011 - 20:12 | 1653005 WonderDawg
WonderDawg's picture

Still believes in the system? He's been calling for prosecution of the financial criminals for years.

Don't get me wrong, I doubt I'd want to hang out with the guy, he can be a dick, but he's trying to shine some light on the fraud in the financial system and for that I respect him.

Fri, 09/09/2011 - 23:25 | 1653497 Crisismode
Crisismode's picture

He is a fool;


And you are a fool for believing in him.

Fri, 09/09/2011 - 23:36 | 1653536 WonderDawg
WonderDawg's picture

You're a bit of a cunt, eh?

Did I say I believed in him? No. I said I respect him for trying to shine a light on the fraud being perpetrated on our country. If you have a problem with that, you can go fuck yourself.

Fri, 09/09/2011 - 18:12 | 1652655 Stax Edwards
Stax Edwards's picture

We are working the same page of the playbook

Fri, 09/09/2011 - 15:52 | 1652239 CClarity
CClarity's picture

Good bigger picture view by  Rogers.  By the end of next week Greece may not be the word on everyone's lips.  It'll be the financial system again.  And slow growth or receding economies.  That is what people should be investing and/or trading toward.  Rogers decisions in this climate are sound.

Fri, 09/09/2011 - 15:52 | 1652241 fuu
fuu's picture

Aaand S&P pops over 1150 in the last 13 minutes of the day.

Fri, 09/09/2011 - 15:56 | 1652257 HelluvaEngineer
HelluvaEngineer's picture

damn end of day short covering

Fri, 09/09/2011 - 15:57 | 1652262 TwelfthVulture
TwelfthVulture's picture

Every thing is fixed now.

Fri, 09/09/2011 - 16:28 | 1652390 DoChenRollingBearing
DoChenRollingBearing's picture

Yet another reason to buy and hold physical gold.

Sat, 09/10/2011 - 11:18 | 1654365 Bam_Man
Bam_Man's picture

That statement can have two very different meanings, only one of which is actually true.

Fri, 09/09/2011 - 15:53 | 1652242 hooligan2009
hooligan2009's picture

off topic..slightly ...but i wish pissantani would have asked jim to comment on how successful america can be when governement worker are paid more than private sector workers..

Private industry employers spent an average of $28.13 per hour worked for employee compensation in June 2011, the U.S. Bureau of Labor Statistics reported today. Wages and salaries averaged $19.81 per hour worked and accounted for 70.4 percent of these costs, while benefits averaged $8.32 and accounted for the remaining 29.6 percent. Total compensation costs for state and local government workers averaged $40.40 per hour worked in June 2011

from here: http://www.bls.gov/news.release/ecec.nr0.htm

Fri, 09/09/2011 - 16:06 | 1652301 NotApplicable
NotApplicable's picture

As long as there is fresh fuel for the Ponzi...

Do NOT follow this link or you will be banned from the site!