JIM ROGERS

JIM ROGERS

Friday, November 15, 2013

Jim Rogers : Nobody ever Wins a Trade War or a Currency War



Jim Rogers : Well, the first thing you need to know is that nobody ever wins a trade war, a currency war, which is just another kind of trade war. Everybody loses in the end , some may temporarily come out ahead but it’s temporary if nothing else. As you have pointed out, the cost of living of many people is going up, and it certainly is, my gosh, in Japan you have a currency that’s down 25% in a year. Well I assure you the Japanese are feeling that because everything that Japan imports has gone up fairly substantially AND even the things that they don’t import are up because the Japanese manufacturers and the Japanese producers can raise prices because they don’t have to worry about competing with the foreigners any more.
“We’ve got to stop this, this is going to be bad.”
So we’re all losing in currency wars. How long can it go on? Well, it can go on as long as politicians can continue to print money. The problem is, of course, eventually the markets will just say, “We’re not going to play this game anymore” and we’ll have a serious collapse. You and I can print money all day long, but at some point, you, I and everybody else is going to say, “Wait a minute, guys, this money is getting worse and worse and more and more worthless, so why don’t we stop playing this game?” I wish the politicians were smart enough at some point to say, “We’ve got to stop this, this is going to be bad.”
But unfortunately they never have, and probably never will. Mr. Bernanke is certainly not going to stop it, because he doesn’t want to go down in history as causing the collapse. Mrs. Yellen, when she comes in, she’s not going to stop it, first of all she doesn’t believe in stopping it, she thinks printing money is good. And she knows – I hope she’s smart enough to know – that if she stops, oh my gosh, it’s going to collapse. So she’s not going to stop. Nobody wants to go down as causing the collapse of the world. So I’m afraid this is going to go on until the market eventually says to them, “Okay, enough is enough,” we have a big collapse and then they’re all thrown out and we can start over.
“Eventually they will try to cut [QE], it will finally cause the collapse, at that point we will have a big change, because they will throw them out, whether it’s the politicians or the central bankers or whoever.” - in a recent interview with Birch Gold

Jim Rogers


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%.





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

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "