On the U.S. economy:
``I think it's probably in a recession right now.''
On his selling of assets denominated in dollars:
``I'm sure I will keep selling them over the next year or two. I'm taking my money out of the U.S. dollar.''
On other currencies:
``The renminbi is going to go up, double, treble, quadruple in the next few years.'' The yuan ``is extremely undervalued if you look at any basis for judgment. It's not good for China that they're holding the value down. When you block the currency it causes destruction.''
On Federal Reserve Chairman Ben S. Bernanke:
``That man has been studying printing money all his life. The man is now running the printing presses.''
On the Chinese stock market:
``It looks like a bubble may be developing. I'm hoping something will happen and drive the Chinese market a few thousand points lower and then I can buy some more.''
On gold, platinum:
``Right now there's a gigantic speculative position in gold. When everybody is on one side of the boat you should be on the other side. Platinum would have to go down a lot more before I buy.''
On copper, bonds:
``I don't like to buy anything that's moving in a straight line. I would certainly sell bonds. That bull market peaked in 2003.''
Good guy but he is wrong on gold. Oil is speculative and everybody is on the same side of the boat, therefore, oil is due for a correction. Gold is the result of a lack of desire to hold the US dollar by the worlds biggest players not a bunch of gold nuts, end of worlders, speculative zeal or Indians celebrating some festival. Why on earth would the Euro be at 1.40+ and rising daily with most of their economies being in the toilet and sinking daily. World output is 2200 tons per year and falling. Demand is 4000 tons/yr and rising exponentially. Go BHP get at that gold field.
Jim has made some great calls. You can be popular, or you can be right. Most people are stupid and therefore will zig when the smart has already zagged. As usual Jim is the smart money. One comment he made puzzled me. He said that he's moving some money into Swiss Franc...that bit I question, the other currency calls are basically the same ones I am playing.
What is not American about making money, the guys sees the trend and is telling us what to do. The US Govt is sinking this ship by devaluing the US Dollar by printing a bunch of money, spending more money than they receive, invading another country for its oil, turning American into the enemy of the world, and mandating/forcing you and I to buy corn based ethanol thats causing all of us to pay more at both the pump and the supermarkets, then telling all of us there is "no inflation". Let me guess your one of those people who thinks the government is always right.
I thought is was our duty to stand up and speak up about the government if we see something wrong. This is what the founders of this country wanted. Instead you like to say "he hates America". As I remember from history class, Hitler and Stalin placed people in jail or worse if they spoke up as they were unpatriotic. What are you? Communist???
I have known Jim Rogers for 30 years...done business with him. He is a cautious investor, fair...but tough minded.
He is a good American...who knows how to make money in a vast and complex world. At heart, he is a good ol' boy from Louisiana -- who came to New York, and discovered the universe.
Jim doesn't hate America, but he knows it's going down the tubes pretty fast. Wars, "postindustrial economy", Congress with 11% approval rating, an idiot for the president, ignorant morons like you for the citizens all contribute to this slide. Eat some Drano, will you?