Jim Rogers : we are going to default someday I've said and there are many ways to default you can give people worthless paper you can pay people back but if you give worthless money that's defaulting there are a lot of ways of defaulting without actually refusing to pay your debt , we are the largest debtor nation in the history of the world .... not anytime soon what will probably happen first the currency will continue to be debased , Mr Bernanke is out there printing money as fast as he can he will start printing at even faster again , you saw what he said , he said he is going to keep interest rates at very low for two more years , Laure the only way you can do that is to manipulate the market to be popping money into the market you can't just say it I am going to do it you have to do something , so he continuing to printing money he will debase the currency and all the people who own bonds will get back paper money that will be worth less .... and regarding Europe Jim Rogers had this to say " Laure the only way out of this is to accept reality , people who are bankrupt let them go bankrupt stop trying to deny reality , in the early 1990s the Japanese did this they refused let anybody fail they propped up zombie banks and zombie companies and 21 years later they still have a problem , The Japanese stock market is down 75 percent actually 80 percent from where it was 21 years ago this is not going to work let people fail and start over ....
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Thursday, August 18, 2011
Jim Rogers : Europe should accept Reality
Who is Jim Rogers ?
James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator