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Rogers: "Volume Is Not Going To Come Back. We've Had A Great 30 Years. That's Finished!"
Jim Rogers is hedging his gold (and silver) positions reflecting that this is normal, following such a tremendous run, and that this is good for the precious metal in the long-run. In his discussion with Maria Bartiromo this afternoon, he notes India's anti-gold 'protectionism' (and its potential balance of payments issues) that are trying to force the hoarding into risky 'productive' assets (as others might say). The immutable commodity maven suggests JPMorgan (and its peers) could be behind the drops in the overall commodity complex as the uncertainty of their positions (and liquidation potential to raise cash as bank examiners begin their forensics) becomes more important. He holds the USD, which he hates; has a number of equity shorts; and is most fearful of banks - specifically admitting he is a serial seller of calls on JPMorgan. His advice, and perhaps Maria should look into it given their ratings recently, is to become a farmer; own farmland; and speculate on agriculture. On the dismal 'ethical' state of our leaders and management, the thoughtful Rogers opines, "You can read world history for decades. There are always people doing things wrong. We have not changed our human nature and we will continue to have scandals and problems" and in a follow-up to CNBC's standard 'money-on-the-sidelines' argument he crushes the money-honey's dreams: "Finance had a great 30 years. That's finished. Now to advance, we have too many people, too many MBAs, too much leverage and too many governments that don't like us". A must-see rebuttal to the 'normal' CNBC hopium with more on China's slowdown, a US recession, Europe and a Greek exit, QE3, and 'tractors'.
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I've noticed the 'buy gold and silver' type comments and articles, here and around the web, aren't happening as much.
With sociopaths in charge of the world, you just really can't make a sound decision these days.
Rogers is selling gold. He won't be popular here. Lots of gold bulls are no longer bullish. The problem I have with them is that they said we should buy gold because the US$ was going to 0, but now they are long US$ because it's going up. I too can predict the past.
Buy and hold Silver, then buy some more, actually don't stop buying silver. With 10,000 industrial uses, it is the smartest investment.
Take a look at copper today, tumbled 3.10%.
http://capital3x.com/think-tank/intermarket-analysis-and-chart-setups/
Nothing can prepare you for the Truth.
"I should have been a farmer" (The Natural).
Farms? WTF? Anyone here remember the 80s? How about "Farm Aid"? Farmland is essentially infinite. It's just riding the commodity bubble.
Rogers impressions may indeed, be accurate, but what a defeatist attitude! Despite his wealth, he reminds me of the proverbial whinny little kid, with a bow tie and a snooty sniveling attitude. When he speaks his facial expressions reminds me of a youngster having the need to crap.
Didn't he expatriate himself?
Rogers may be right this time. Gold has resumed its crash, right on time. The Hong Kong market is killing gold, as always, despite what you read here, it doesn't look like China is buying much gold. Bring the red arrow. Your opinion doesn't change facts which is what matters after all.
Navigating to get to the facts in a world of deception is, indeed an art. Rogers makes his contribution to be sure, however it's his behavior that burps up my opinion. ;o
Flash: media reporting Germany GDP "Much" better than expected :0.5% vs EST 0.1% QOQ.
That means 1.2% vs 0.8% YoY.
Sheesh. The powerhouse at 1.2% annualized?
How the bar has been lowered. Pretty soon, 0.01% vs 0.001% EST will be "Smashing" expectations on "Monster" growth.
Jim Rogers is the man! Look at his track record... It speaks for itself.
China is going nutso again. First with India on disputed waters outside Vietnam re: gas reserves. Now Philippines
http://www.bloomberg.com/news/2012-05-15/philippine-peso-falls-as-china-...
Nice. Geopolitical tension trade about to hit. Should see gold bids, but also USD bids. Who cares if the Fed blew out the JPM tail-risk trade, F*cking Wall Street is corner/leverage trading a derivative time-bomb. Which is going to blow any day.
It just goes from worst to horrific.
How much is Rogers worth? Does anyone know?
I've been following Rogers for as long as some of you have been out of diapers.
He's the McCain of investing: A maverick for the sake of being a maverick.
Investment Biker was his his biggest contribution.
Don't recall his forecasting to be anything special, particularly on stock market. And, the (wrong) 2005 gold call(that someone posted above) speaks for itself.
You want a good guru, follow Faber. He gets it right about 75% of the time. And he happens to be long and strong gold. Rogers' "might go down before it goes up" is basically worthless.
I agree with this. Faber gives you tradeable advice (I actually subscribe to his newsletter). Rogers likes the sound of his voice on TV. The funniest thing I ever heard in a Rogers interview was when some CNBC or Bloomberg interviewer asked him what his return on investment was. He replied "what a waste of time trying to measure that." Quite.
I unfortunately own a lot of slave rags (dollars) because the price of farmland is so high in the US.
http://www.reuters.com/article/2012/04/11/us-usa-farmland-idUSBRE83A1GT2...
A combination of low interest rates and high commodity prices sent levels sky-rocketing. Nebraska cropland values soared by 38 percent during 2010, while Iowa was up 28 percent and Indiana up 27 percent, say Federal Reserve regional banks.
A 160-acre farm near York in eastern Nebraska sold for $12,000 an acre in February, a record for land in the state.
I know you think you can just take any large piece of land and either farm or ranch off it, but think again. The folks in the Agriculture/Pharma/Processed "Food" Industry do not like competition.
And as for gold and silver, I know a lot of you don't want to hear this, but they both broke their trendline support from 2008. Just wait for the pullback and then buy. You'll know it when you see it.
Nice dissection- the thing I disagree with is the farming BS. Here in the US it is apparent the PTB don't want existing farms to operate, so any new farmers better have the vaseline ready. Taxes, EPA and FDA regulations, serial numbering your chickens, swat raids over produce and dairy products, child labor laws, manifest destiny and did I mention property taxes? Farming is a cultural thing, most good farmers are descendants of farmers.
http://en.wikipedia.org/wiki/Collectivization_in_the_Soviet_Union
Is the sole reason i'll never become a farmer. Don't try and pretend it can't happen again.
Yes, no war and no drought and Stalin still managed to starve millions of his countrymen. Nice fella.
At the beginning Maria is trying so hard to bash gold - a true Wall Street Equity Accolyte - funny (sad?).
Farms, bitchez.
She just cannot get it. http://duckduckgo.com/?q=sir+goldsmith+warning
Buy apple orchards and make apple jack. It will be the currency of choice in a complete economic meltdown.
Got liquor?
So, if you buy farmland and the farmers all get old and die, who do you sell the farmland to?
If they don't just have you killed, Monsatan and China will bid for it.
The U. N. through "Agenda 21" already has their eyes on U. S. farmland and guess what, they don't plan on paying for it!
Maria with the puffy lips and the saggy tits seems to be very agitated with Rogers. I imagine Maria naked is a fright
small hindsight trading perhaps?
also Maria, don't know that you killed your tulips in the backyard, they're bulbs, so generally come up in spring, and last a couple of weeks.
If you can get good title, Ukrainian and Russian farmland is the cheapest money can buy (for the quality you get). Unfortunately, getting good title as foreigners is virtually impossible.
Jimmy "Long Commodities" Rogers.
Selling his stuff. One way or another.
Most people can't run out and buy acreage, but even the working class people (you know...the ones that usually take the economic blows the rich create?) can get ahold of silver.
That is why if this entire BUY SILVER, BUY SILVER...BUY GOLD, BUY GOLD, etc has been just gambling talk of Wall streeters and investors, it is not good. There's been working class people buying this stuff. I know guys that pound nails all day for a living, looking forward to a cold beer when they get off work.They try to keep up with this shit but they can't, they're too tired, so they rely on people that have built up their Reputations over the years, via internet or in person.
They believed people like Max Keiser, et al, and now I see that Max Keiser isn't pushing the buy buy buy buttons anymore. It doesn't matter how much a worker tries to learn about investing....The field is so corrupt you can't trust it. The manipulations by the Government and Big banksters insures that hard worker Joe six-pack isn't going to succeed but will have a life of continual struggle.
I don't think the answer is this or that or this or that....Just buy a store of food, get a hide out set up and buy guns....And make a list of the people who looted this nation.
Long hollow points.
You can also read up-to-date news about Jim Rogers at: http://valueslots.com/legendary-investors/jim-rogers/
It follows every move the investor makes.