JIM ROGERS

JIM ROGERS

Monday, December 23, 2013

Jim Rogers: US Heading for Disaster. Be Worried , Be Prepared


Jim Rogers

Jim Rogers

"In 1918," Jim Rogers explained, "the UK was the richest most powerful nation on earth. Within a generation it was in economic chaos, and within 3 generations it was bankrupt and the IMF had to bail them out. They couldn't sell government bonds things got so bad."

    "I'm afraid that...right now there's no restriction on the Federal Reserve at all, and at the same time there's no restriction on Congress anymore. They keep making these deals to put off any kind of serious cutbacks.
    
    "[Policymakers] everywhere are under no constraint. Central banks can print as much as they want, the governments spend as much as they want. So there's no reason this can't go on for a while, because any corrections due to tapering will probably be temporary."

    "This is not going to be fun. Don't think I'm looking forward to this. It's going to be a disaster. I don't see the bureaucrats coming to their senses, so it's going to be the markets, and it's going to mean a lot of unpleasant times.
    
    "You're already seeing social unrest in many countries, and it's going to get a lot worse I assure you."

"This is a lot of fun for those participating. But the overall situation is getting worse and worse. We're all going to have to live with the consequences of printing money."

    "These guys are academics and bureaucrats. I suspect the first time they do come to their senses and start to cut back it will lead to some kind of correction, markets going down everywhere. So they will panic and they will start printing again.
    
    "We've had economic slowdowns every 4-6 years in America...In 2008 it got worse and worse and worse, because the debt so much higher. Look out the window. You can probably see the debt rising! It's like the beanstalk.
    
    "Whether it's 2014, 2015, whenever [the downturn] comes next time it's gonna be much much worse, because the debt is so much higher.
    
    "Be careful. Be worried. Be prepared."

"I don't know that it's there," Jim Rogers said. "I have no reason to assume it's not, except that there's not been a proper audit of America's gold in decades, if ever." - in goldnews.bullionvault




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 "