Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history.

Jim Rogers’ full interview with Chris Martenson’s Peak Prosperity is below:


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  1. Savers are having a tough time of it.  Not finding anything in the way of a decent return at a bank or other financial institution, some are jumping into high risk investments that they should not be involved in.  That will strip them of their savings.  Others are living off their principal, spending down their savings to nothing and potentially outliving their money.
    if there was any reasoning behind the manipulation and supression of precious metals prices, it was to scare savers from that investment or cause them losses after buying PMs at $36 an ounce and seeing them flushed at $29 an ounce.  If I was a conspiracy theorist, and I am, this makes sense   Anything to cause the savers losses seems to be the theme her.

    • Strip the middle class of everything until all you have left are worker drones in low paid jobs that don’t pay enough for any savings or buying of precious metals. And the sheep are happily letting it be done to them.

    • “Savers are having a tough time of it.  Not finding anything in the way of a decent return at a bank or other financial institution, some are jumping into high risk investments that they should not be involved in.”
       
      Yes, they are.  My parents are in their 80s and used to get 4-5% interest on their CDs, which was pretty much their only investment type.  Now, if they can get 1.5% on their CDs, the banks act as if they have moved heaven and earth for them.  I dunno… maybe they have?
       
      I manage a good part of my folks money for them.  Last year, I was able to get about 8% for my step-Dad and about 5% for my Mom (she’s very risk averse).  Yes, these investments are riskier than CDs, bank savings accounts, and money market accounts but they are not wild and woolly “Striker Oil” or “Florida Lands” type investments.  Most of them are in big cap stocks that are household names and that pay regular dividends.  Anyway, they are pleased with my “services” to this point.  They would be more impressed if they were told what a “professional” money manager would charge them for this.  lol

      I have an itchy trigger finger as far as selling goes and have some good stops set up to help limit downside risk.   I don’t much like this market.  It is too twitchy, too vulnerable to BS that comes flying out of nowhere and serves up a big s**t sandwich to the unwary.  Fundamentals are of only secondary importance these days with Fed and Gov policy having the biggest impact.  These, of course, change fairly frequently so longer term planning is difficult.  The market is now levitating for no reason related to improved earnings at US companies.  Bernanke’s $85B a month in free money is powering this stock “rally” and that is about all that is doing it.  The auto companies are doing better, though.  With the US auto fleet about as old as anyone can remember, people and businesses finally HAVE to replace those old vehicles or face a stream of significant repair and downtime costs.  A good growing season would be of considerable help this year.  If it looks as if we will get one, then companies that specialize in transport of crop items should do well.  Truckers, barges, and trains are all used for this, so best of breed in those areas could be worth a look.  Rail would be my favorite as it is the low cost tonnage champ and is more versatile than water transport, which is also cheap.

  2. Doc, thanks for posting this interview.  I always liked Jim Rogers for his common sense approach.  I know he has been big on agriculture for a very long time.  I am a little concerned that he’s concerned about India’s government creating laws concerning the ownership of gold.  He sees that as a reason for gold possibly going down.  For awhile he has said that he owns gold and silver and will hold it but hasn’t been buying.  I thought one of his more important quotes was that “the US Dollar is not a safe-haven, but is perceived as a safe-haven”.

  3. “The FED is flooding the world with money” says Rogers.  That’s the kind of rhetoric that alienates the broke bastards who might tune in to the financial news once a year.  The world is flooded with money.  I tell people that the US mint only made 750 thousand dollars worth of 1955-D quarters and most of them just look at me with a blank stare.  “ONly 750 thousand dollars worth huh smart guy?”  I can imagine that’s what they’re thinking.  Yeah.   Only 750 thousand bucks worth. 

  4. That’s also brings me to this one question that I keep asking myself: What type of collapse would it be? Will it be like the Soviet Union, the German Weimar Republic or even worst, like the Roman empire which bring us all into Dark Ages where ignorance was everywhere!

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