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Jim Rogers: "The US Has Already Lost Its AAA Status...I Am Short The US Bond Market As We Speak"
While there is nothing new in the just released Jim Rogers interview with the WSJ, it is always refreshing to hear him tell the truth, which is, of course that "the US has already lost its AAA status. Who cares what Moody's say." As for the response: "The market looks ahead: this is not the first time that the market has dealt with the fact that the US is bankrupt." As for his proclivity to buy long term US debt: "I wouldn't lend money to the US in US dollars for 30 years at 3%, or 4%, or 5% or you name the interest rate.... I shorted it June 10. I am short the US bond market as we speak." Great stuff as usual.
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my man...
Might finally be time to pull the trigger on some TBT this AM.
Better Yet: TMV
HURRAY!!!
So much for policing pictures.
Check out TBX...someone sure liked it on 7/14...
Not quite sure what you mean caerus, but I do know that Cantor (and no doubt others) have shorted bonds.
He and his ilk actually want a crash, so as to make a fortune out of others' misery.
Self-interest rules, OK.
Natural gas in Chicago; hmm. A chainsaw. He's gonna be hard to convince, apparently.
That means gold will fall... BTFD (Gold of course)
Little late to BTFD.......EPIC FAIL.
Late? You aint seen nothing yet.
I remember people commenting that the price of Gold was too high when it was $300 an ounce.
Eventually the Gold to US Dollar ratio will hit infinity just like the ZIM Dollar.
Ani I was short Gold earlier, Now i'm Long Gold and Silver
How painful was to get out of your shorts? Seems that they were full of ****. (Reminds me someone shorting 1275 between sep-nov. LMAO)
Update: Gold @ 1614.2 -> ROTF
If I ask you nicely, will you fuck off?
No no no , dont tell him to fuck off , hes the new RoboTroll : great to have around to boost ones self-esteem. When i realize there are asshats out there like these two it gives me comfort that i might last longer in the sheering process than i thought. You dont need to be the fastest Wildebeast afterall , just so long as you outrun the slowest.
Where would gold investors be without these cretins? With a much higher average in price.
Thanks to these chumps my ave is 500 pts lower than it would have been.
No one:
A) Really believes those are your positions
B) Cares if they are
C) Takes you seriously after calling short gold/long Indian Government debt after claiming you chose this position based on your belief that American politicians would do the right thing
D) Can mod your comments below the threshold of visibility
+1
But for the moment it's amusing. Will D) when bored.
How do you "mod" comments?
Thanks.
Good.
I wonder how the Ministry of (dis)Information will spin an AA
It doesn't matter as long as all the other reserve currencies are on similar trajectory -- UK is considering QE, Euro is f'ded, Yen is constantly being topped up. As long as we have our foot on the throat of ME oil and other commodity deficit countries such as China/India do not flinch, this game can go on. MAD at work.
They'll spin it as a budget cut. Saving on the letter "A" should take in 500Billion over 10 years.
Have you noticed that they replace the 1 dimensional barcode with the 2 dimensional pixel code ?
Also to be found everywhere on ad posters.
The reckoning day will arrive not when the US defaults, as that probably will never happen, but when China decides to effectively start dumping their 3 trillion $ or so.
I agree the US will not techically default but will print to oblivion. As that starts to happen the Chinese will dump their $3T back on top of us just as the inflation death spiral begins. They'll get all sorts of good US goods nd property at cheap prices while their dollars have some value and the rest of the people in the US will sit around and watch their dollars shrivel up and blow away.
Real estate in Fascist America is worthless. You rent it from Federal and Local Governments. What happens if you can't pay the property tax? You end up with Detroit where thousands of acres of abandoned property is bulldozed flat and leased to farmers for pennies on the acre. Even if you can pay the outrageous property taxes designed to force you off they simply move you off via imminent domain laws.
The Chinese have been dumping USD for years -- some say they've dumped about 1/2 now. The dumping is actually spending in the form of long term resource/commodity aquisitions. These are a not matter of single upfront payments but payments over time, in USD. When those dollars hit the 3rd world, they will effectively be going from the deep freeze (China's reserves) to high velocity. If we are not already in hyperinflation due to loss of confidence, this increase in velocity as latent price inflation goes to manifest will get things rolling.
I agree that this is a significant effect. We exported inflation to China for thirty years; now it will come back; kind of like Chickens coming home to roost; except in this case we might have hoped they would all die, or get lost.
The Chinese want ROI, they will dump their $$$ into the EMF. Europe is safe, but what will the US do...
btw, I think around roughly a third of those 3 Trillion in foreign reserves are USD (ie not all 3 trillion).
I think you have nailed the death scenario. I suspect even the downgrade threats are part of the good cop/bad cop routine being used so our closet corporate/fascist president will be 'forced' to fleece social security and medicare and keep supporting the banks and military adventures. They may have a nicely scripted plan but if the Chinese aren't on board they are screwed. I imagined the Chinese are pissed about the last year of currency warfare and if given a good opening will counter attack. They did quite well coming through the last financial chaos so they may not fear version 2.0.
It's all but asured there will be no meaningful reform or groundbreaking history making deal correct? so once they raise the debt limit with some BS deal, they're going to be issuing treasuries like there's no tommorow. seems like fundamental supply demand. rates will have to go up.
But not if Uncle Ben starts buying up as well -- then the interest rate could even go down...
True, but then you will see the dollar crash and $50 a gallon gas and it's aftermath.
$50 a gallon gas...
Considering one thin pre '65 US dime is valued at about 3. frn, one gallon of US gasoline is an absolute bargain at thirteen to fourteen cents, including taxes.
Mr. Bernanke and his ilk are nothing short of miracle workers. Why all the fuss?
I made a similar comment yesterday. If a 90% dime is currently at about $3, and silver should (theoretically) increase in value ahead of the curve of gasoline's rise, then a nice Mercury dime should always buy a gallon of gas, no matter how high gas goes.
More or less.
The lesson, class? Buy gold if you wish (it's always a good idea), but don't ever knock the every-day buying power of silver, especially pre-1965 coins that will be among the most readily recognized and accepted by retail businesses.
people buy silver when they think gold has become too expensive. that's the way it has always been in my lifetime. nobody bothers with silver here in asia. why should they when there is gold? as for coins in usa, i dont think they will be money any time soon. Where will they come from? who will accept them or differentiate between real or fake? Actually, I have one (one) kennedy coin as a souveneir from my time in usa. I wish it were gold instead.
agreed boxed, been thinking in terms of 90 silver or as I prefer to call it - reality, to figure what really costs what.
yep. it's a depression. it's been a depression for some time now.
i suspect when gas is over $4 a gallon, silver will have gone "up" to still allow the value of the silver dime to maintain a gallon (or better) purchase power.
but not right away. Rates will drop and people will wonder why the dollar is so strong! We'll see "transient" increases in prices before we see the rocketship up in everything. It's a sucker play.
Graham-Rutman Act & the Grayce commission.
lol SocGen with a note out this afternooon to sell USDJPY till the 75s
Jimbo rules bitchez
As usual the INSIDERS will make the most money! And walk away home free! We the little guys need to hedge at all times to not get caught pants down! Still, good enough for me!
Long Gold & Silver, Short everything else!
Simple!
What is going to happen with Gold and Silver price when they come up with some kind of crooked deal any time now?
Maybe a HUGE pullback... A better opportunity will come after that!
The long time US debt problems is insolvent!
However in a short play like Jim, I would hold back any big position in PMs and keep it in the greenback. After the hype of some kind of stupid debt deal we then have nothing else holding PMs for new heights.
Took some profit off the table earlier, I am waiting for a lower PMs anytime this week...
Just my 2 cents...
People who expect some miraculous surprise delivery of Hefty bags full of crack rocks to support the wildly hyper-valued stocks and bonds are in for a very rude awakening real soon.
Wait, little Timmay said there was absolutely positively no chance of a downgrade!
The Federal Reserve Cartel....Eight Families...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/06/federal-reser...
OT: Hilarious 2 Min Vid...
http://www.youtube.com/watch?v=W0Uju3tYS2s
Silver bars and rounds, keep on stacking them!
I loved Jim jumping in his box to debunk the last statements of the host.
he is long bonds i assume.
Jim Rogers, about a Decade ahead of the Credit Ratings Agencies
OMG, If I had to listen to that lady everyday, I would kill myself.
Maybe Congress can create a SUPER RATING for the US?
One that doesn't give a shit about the countries situation and without accountability to anything or anybody?
CONgress can just put in place the 'Super Best Friends Forever' club.
We could call it "Sub-Standard and Fairly Poor" ratings agency.
This womwan is a complete moron.
Arent they all? I mean of course all TV commentator types.
I'm always dumbfounded when a child and a noob like "Kelly" thinks they can school Jim Rogers or call him out on a mistake. He was making millions when she was crapping in her diapers. Somebody needs to vet those lines that she is being fed through her earpiece. It's embarrassing to listen to her being nailed to the wall so gently but thoroughly. A good example of the 'Velvet Harpoon' in action.
She seems like she's the WSJ version of Erin Burnett, same arrogant know-it-all attitude in a ditz but not near as nice to look at.
I was visiting at my friend's house, and I discovered if you turn off the sound, Erin Burnett is a very, very nice person. Very nice. I feel warm and good looking at Erin Burnett.
I like him....... he is the one of the few telling it like it is..........
A downgrade is a must if the rating system is not a complete fraud already. The US should be a CCC rating just above junk because that is reality. There is no way for the US to make any significant budget cuts, the US is bankrupt, end of story.
Check out the latest from the Capital Research Institute (CRI):
The Financial System - A House of Cards
Yea the US is totaly insolvent, bottom line. I dont really care what story they tell, when youre broke and cant even borrow enough to pay the interest on your debt, youre finished. I dont care what 'rating' they make up, it is over.
isn't the fact that this all is a fraud something that's been revealed for YEARS now?
opt out. stack. stock. load.
The market always does what it's supposed to, you just never know when.
Bottom line from here on out we just see stabilizing attempts in bonds and stocks and the rest of the paper garbage.
ANY 'solution' they come up with will fall far short of the super junkie stock fans and the bond dorks expectations I guarantee it. Ive been saying it all along, there will be no Hefty bags of free crack rocks delivered.
the Euro will take over soon as new Reserve Currency, since the USD is becoming increasingly worthless,
thanks to the Federal Reserve's endless US currency devaluation, monetary intervention
and " beggar thy neighbour schemes " to make US imports more expensive for US citizens and exports ( what exports?) cheaper. But the Fed's scheme to debase the US currency is heavy handed and dishonest and is is starting to backfire.
For China, the Eurozone is now a much more viable market to invest in Bonds, than to risk their investments by proping up the by now much insolvent and heavily manipulated ( Fed QE 1,2,3,4,5 endless Ponzi lottery ) US Bond Market.
"Today, Germany! Tomorrow, The World!" You're confused. All the currencies will devlaue due to ongoing inflation. The FX ratio for the Euro; currently being shown up by the Swiss Franc, has no visible means of support. The EUR'USD turn is coming.
Bet against Jim Rogers investment advice at your own portfolio risk.
Here is a video I found of Jim Rogers forcibly restraining an Indian man that grabbed his girlfriend's ass.
Jim is alpha, bitchez
http://www.youtube.com/watch?v=sjpzcoRbRag
Thanks BB that was like midget wrestling...
cool video, thanks!
What I just wonder is how much she really believed that the local police would find some grabbing of a foreign woman's bottom interesting or even worth a charge.
two comments:
one, that's a very easy hold to get out of. And then what?
two, THAT"S his girlfriend?! With his money?
I thought this guy was supposed to be highly intelligent. Thank you for posting this video. I am not seeing a leader but a reckless individual.
it actually looked like the guy was content to be held, enjoying a little closeness to Jim.
Its amazing how people cant see the overall bigger picture that this is just the end of the biggest transfer of wealth in history, and planned 3rd worlding of america while everyone believes things are about to get better with the delivery of some miracle or other.
+1 oz SD1... Yes, sad. Looks like we have a ways to go yet, with Africa the next stop before we hit rock bottom. Wages will reflect 3rd world income before manufacturing returns home, so debt ceiling and default just a kick the can down the road scenario, until we get there.
No one can doubt there is a huge disconnect with the way Credit Rating Agencies treat European economies and how they treat the US economy. The US hasn't been Triple A for a long time. If Moody's had its way the US would remain AAA until the day it goes down to junk status. I mean China and Saudi are both Aa3 and the US is AAA. Don't believe the hype.
Jim Rogers, he's been right all along. Also said he'd would end the Fed. It's that time.
Indeed
We've Had 3 Central Banks In The History Of America, 2 Of Them Failed And This Will One Will Too! The FED should be abolished. In my view their day is done.- Jim Rogers
http://dailybail.com/home/jim-rogers-weve-had-3-central-banks-in-the-his...
Picked up a large "trading position" in GLD and SLV (and other versions of PMs) last week on the dips, sold at open this AM, just as all the financial media are saying get in. That's just about how much ahead of them you want to be (still holding my core positions in PMs of course). As some here have mentioned, we kinda expect another dip this week. That'll be time to buy again I believe. I might miss a little something, but banking profits always feels good, and the way it was going down this AM, seems like it was a good trade to do. Still not back up to where I sold...we'll just have to see.
Welcome to Mr. Roger's neighborhood bitchez!
Looks like Kelly missed her makeup call this morning.
Not sure if most of you have your heads so far up Tyler's gold ass that you can't listen, but Rogers says he OWNS THE DOLLAR. That's the overiding point of this video.
I love it when there are people who can back off the myopic view and see the whole forest, not just the trees. The U.S. hasn't and probably won't fix anything. The "system" itself is bigger than the politicians and the statists led by Obama have the upper hand. It will result in our own destruction but that is okay with them. It will most likely increase the demand for more government and the "strong man" who will lead us out, a.k.a. Roosevelt, Hitler, Mussolini.
Do NOT mistake the weak fragile conservative alliance called the Republican Party for true libertarians. Only libertarian philosophies that cut the state by asking it to do less will reverse our course. The Republicans have the fatal flaw of agreeing with Democrat/statist party on most everything, Medicare, Medicaid, Soc. Sec., farm subsidies, etc. Because of that, America will lose. Ron Paul is the only one that will make the truly hard choices. The rest is just mowing the weeds at best.
"I am also short bow ties in addition to the US Bond Market"
I met Jim around 1994. Very smart guy, down to earth and easy to talk to. I tend to follow him (think TBT)... I guess also UUP?
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