Best Of The Best Share Discussion Threads

[traderabc] 17/2/2009 15:53

Jim Rogers on Obamah

[traderabc] 17/2/2009 15:51

Watch this Jim Rogers video interview he gave to a Chinese TV channel.

"I owed some Taiwan shares but I found that the regulations are so difficult that I am selling them. I can`t believe it" JIM ROGERS

"Gold is going to 1000, its going to 2000 USD over the course of this bull market but it might go to $400 first.." JIM ROGERS

[traderabc] 17/2/2009 15:41

'Prepare yourself'

Latest Jim Rogers video interview. Jim Rogers was interviewed in a Dutch TV Channel. (the introduction is in dutch, but the interview is in english)

Some bold predictions here, well worth a watch.

[traderabc] 16/2/2009 22:56

Hard to imagine but buying Gold at muli year highs may pay off too,
not for the faint hearted...

Article about Gold by Ron Paul

[notanewmember2] 16/2/2009 21:36

Probably for a little while longer, if we take the Zimbabwean dollar for example, its taken a little while but villages are not accepting the currency.



But that will mean a great run in nominal terms for commodities if the US goes down a similar path.


Hard to imagine though but the safest place would be commodities bought at multi-year lows.

[traderabc] 16/2/2009 21:17

Hi,notanew,

Poor Jim Pulplava saying the same at $50. He must be a bit embarased.
I wouldn't hold it against any of these people, these markets are not normal in any way, over the longer term they will sort themselves out.
Agreed there are opportunities presently that will be looked back upon as unbelievable, the biggest 'ponzi' scheme has yet to unravel, the $, and what is priced in $? Commodities, but for how much longer?

[notanewmember2] 16/2/2009 20:39

Good thread, I wish I found it earlier.

You know, "they" will push oil down to $25 simply because Jim said "We won't see $25/barrel oil in my lifetime". Its just a reminder from the Wallstreet boys who really wears the trousers.

At $25/barrel, that will be a once in a lifetime entry point to buy oil.

Longterm chart for oil

[traderabc] 16/2/2009 19:41

Peter Schiff Reveals Strategy For New Global Currency - THE REAL ENDGAME

[traderabc] 15/2/2009 23:34

This is intresting, note that Peter Schiff is a Ron Paul supporter, in the unlikley event of Paul getting into power in 4 years time, there is little doubt that Schiff would be playing a very important role in that administration, perhaps it is already too late ,if the world has a chance to progress then there must be people like these guys in charge,

Schiff has a track record similar to Rogers, spot on. They are probably mates through the Ron Paul connection.


The Oracle with Max Keiser - 13 February 2009 (1 of 3)

[hazelton] 15/2/2009 06:54

EdmondJ , A good post. Whereas there is I believe a lot of truth in what JR says the solutions he would propose as not going to be politically acceptable. The outcome is somewhere between the two as usual and I would like to come out of this mess a bit better off that I went into it. His arguments are well worth listening to but few people get it perfectly right all of the time , timing is often tricky.

[traderabc] 14/2/2009 19:36

Good post red,

'and you start to think how can i hedge against this potential erosion of my wealth??'


I have been thinking about that for several years, the answer could be some of these, (in no particular order) Commodities, Precious metals, the Swiss frank, the Chinese yuan, the Sigapore $, large and mid cap emerging markets, farming land,and 'hard' assets. Anyone think of some others?

[traderabc] 14/2/2009 17:46

'In fact this resource has for some time been of marginal importance to the economy'

I understood the north sea has been responsible for paying the dole checks for the last 25 years, please could someone correct me if I'm wrong on that.
I just don't believe the 'marginal importance' statement. North sea oil has a big supporting infrastructure. I think Bootle underestimates the consequences of depleting reserves.

Virtually anything else we presently export can be made or done cheaper by other nations, Rogers may not have said this but the implication is clear, we cannot compete in the global economy.

'Of course, in total we import more than we export, about which I have been banging on for years. The gap is large and as part of the recovery it will have to be closed.'

'it will have to be closed',

This is the crux of the issue, if not dealt with soon, we go down HARD. Do you think they will deal with this issue? I don't, they never deal with anything until it is too late. it will be 1 step back and no step forward, like Rogers predicts.


Edmondj,

Appreciate that link, thanks. I'm always eager to hear opinion from 'the other side'.
Who is this Bootle anyway?

[edmondj] 14/2/2009 07:25

Jim Rogers can be great entertainment, so is welcome in (otherwise dull financial) media slots but he has been proven way wrong on oil lately and economists such as Roger Bootle have made short shrift of his arguments:



So although we have our crises in this country, it is a case of two steps forward and one step back. Jim Rogers, though, seems to think that there can be no further steps forward. His argument is crass. He emphasises North Sea oil. In fact this resource has for some time been of marginal importance to the economy. The UK's trade in oil is broadly balanced. Admittedly, as production declines we will import more and more but this will be a gradual process. It is not of massive significance, as it would be in many of the Arab sheikhdoms.

Nor is oil overwhelmingly important as a source of government revenue. For this year the latest official estimates put the total tax-take from oil at about £13bn, equivalent to 2.4pc of the Government's overall current receipts.

The main part of Rogers' thrust was financial services. Yet the role of this sector in the UK economy is widely exaggerated. It accounts for about 8pc of GDP. This is large, but isn't overwhelming. It compares, for instance, with 12.5pc for manufacturing.

Moreover, it is wrong to think of the financial services category as being all wide-boy dealers and mega flows of footloose capital. Probably around 25pc of financial sector output is wholesale or City-type financial services. And of this, perhaps a half is in the field which will be damaged by the collapse of the banks and the drop in confidence in the UK – areas such as interbank lending, investment banking, and cross border M&A. There are lots of other areas which will be much less affected – fund management, commodities and foreign exchange trading, maritime and aviation insurance, shipbroking, reinsurance, bullion markets, and the trading of carbon emissions.

Another of Rogers' refrains is that we don't make or do anything else which can be exported. In fact, in the last full year for which we have figures, we exported some £370bn of goods and services – £38bn of chemicals and pharmaceuticals, £32bn of electrical and optical equipment, £24bn of motor vehicles and £13bn of aircraft and spacecraft, to name but a few categories.

[traderabc] 14/2/2009 00:43

Ron Paul Madoff "Irrelevant SEC + Congress + Moral Hazard + US Gov't Ponzi Schemes

Please listen to this guy, he knows the score.

[traderabc] 13/2/2009 23:58

A biker who didn't 'have much use for money'.

[traderabc] 12/2/2009 16:37

February 11, 2009
Jim Rogers Live Interview from Singapore
Jim Rogers on Bloomberg TV

JIM ROGERS: Well Mr. Geithner, has been bombing for 15 years he has caused this problem. Mr. Geithner has been head of the New York Fed for several years and that the office that was supposed to supervise Wall Street and the financial system. He came up with the TARP and all this absurd bailouts. Mr. Geithner has never known what he is doing and everybody will discover that, including Mr. Obama.

What should we do, how do you value this toxic assets?

JIM ROGERS: We should do what US told Japan to do in the nineties. You let companies go bankrupt, you clean out the system, you wipe out everybody that is insolvent. Mr. Greenspan went to Japan and said, “you are doing it wrong”, you have got to let people go bankrupt, you have got to clean out the system. The Japanese did not do it., they continued to prop up zombie banks and zombie companies and they still talk about the lost decade. Geithner said the other day that the Japanese didi not spend enough money, all they did was to spend money. I almost fell out of my chair when I heard that. America is making exactly the same mistakes, and the politicians are making worse, not better. Do you know why they are making it worse? Because they want to support their friends on Wall Street and the bankers so that they all can keep their Maseratis.

But there is no Bad Bank. What are your thoughts on that?

JIM ROGERS: What do you mean no bad bank? They are not letting anyone fail. But the idea that the US Government is coming in and buying this toxic assets, who is going to value these assets, either the banks are and they are going to set it to high, the taxpayers atre going to lose out…it not going to work, it has never worked.

But does the Geithner plan consider some banks may fail?

JIM ROGERS: Who? Who is he going to let fail?

The smaller banks.

JIM ROGERS: They put in 350 billion dollar in last year and the banks paid their bonuses with them. You don`t fail when you pay dividens and bonuses with government money.

Bill Gross said that if we don`t put more government funding to solve this crisis we are going to have a second round of financial crisis in the next 6 to 12 months and even a mini depression. What is your comment on that?

JIM ROGERS: If we put more more government money we will have a depression. This has never worked. Look at countries that took their pain, it was horrible for 1 or 2 years. But they cleaned the system and came out with sound economies. Korea, Mexico, Russia took the pain but cleaned the system and became sound economies, grew fast in the next few years. This is what has worked and what has never worked in the past.


How are you making money right now?

JIM ROGERS: I sold us government bonds, but I had to cover because of Bernanke. I had covered my shorts in last October and I am shorting stocks again. These guys don`t know ahat they are doing. General Electric, IBM, JP Morgan, the same old companies.

This is the transcript of Jim Rogers latest interview to

[traderabc] 12/2/2009 16:24

February 12, 2009
We are going to have some Currency Crisis this Year
"Later this year or next year we are going to have terrible financial problems, starting in the currency markets, we are going to have some currency crisis this year, whether it starts with the british pound or the US dollar, or some other currency, the Ruble, who knows, we are going to have many, many currency problems.

I don`t know which currency I will end up in, I own several currencies at the moment, I own the Euro, the Swiss Franc, the Norwegian and Danish, Swedish Krona, the Yen, the Chinese Yuan, the Singapore Dollar, the Australian Dollar and the New Zealand Dollar but where will I go when I get out of the Yen, I have no idea.

Do prepare yourselves because there are going to be spectacular opportunities in the forex markets as this currency crisis unravel in the next year or two.

In am looking for a new currency to buy after I sell my Yen, I don`t see any strong candidates on the horizon, I suspect it will be something that I haven`t though yet, that I don`t already own, maybe the Brazilian Real or the Malaysian Currency." JIM ROGERS

[traderabc] 12/2/2009 15:57

Nice find Praipus, I heard he was shorting this sector early last year.

[praipus] 11/2/2009 14:36

Jim Rogers mentions shorting these in Bloomberg video

[traderabc] 11/2/2009 13:24

ignoble I believe there is an ETF for pork bellies. This is better for spreading the risk a bit within a specific sector, ie the 'softs'.

[ignoble] 11/2/2009 13:21

No Pork Bellies !
:-)