Monday, February 13, 2017

Jim Rogers: Trump Can Save The Dollar

Transcript : and we are back for another edition of 0:04 black tower radio i'm your host check 0:08 fox and we are broadcasting on 1040 am 0:11 92.1 FM w YSL in rochester new york also 0:18 on World News Radio dot today that's 0:21 world news radio that today and today we 0:24 are joined here by jim rogers Jim Rogers 0:29 is an American businessman investor 0:32 financial commentator and author he is 0:35 currently based in Singapore Rogers the 0:39 chairman of Rogers holding and Beal and 0:42 interest think he was the co-founder of 0:45 the quantum fund and creator of the 0:48 rogers international commodities index i 0:51 have personally seen him introduce them 0:54 CNBC as the greatest commodity 0:57 straighter of all time 0:59 so you have a definitely market royalty 1:03 you're listening to on the show right 1:05 now and welcome to the show ship 1:07 I'm delighted to be a change sounds like 1:10 fun 1:11 a gym I'd like to get to what's going on 1:17 with Trump with China what we hear talk 1:23 of a trade or Jack Ma said that you know 1:26 China didn't steal all your jobs you 1:29 spent too much money out of war model 1:31 you know what are we seeing going on 1:34 with with Trump in China right now 1:37 well the first thing you if there is a 1:41 trade or I assure you we should all be 1:44 very wary trade Wars throughout history 1:46 have never worked 1:47 nobody's ever won a trade war at whoever 1:51 the countries are and if we have a trade 1:53 war with anyone it's not going to be 1:55 good especially with China's challenges 1:58 of second largest economy in the world 2:00 so if you have Jake if you have two 2:02 largest economies in the world a trade 2:04 war boy that's not going to be fun at 2:07 all 2:08 you should be very worried that have I'm 2:10 very worried 2:11 it's going to happen i open life well 2:14 when I look at the situation though I 2:16 don't see Trump's trying to start a 2:18 trade war he died i just see him doing 2:23 very basic and fair things I mean China 2:26 is much more protectionists then when 2:30 the United States is I i just don't see 2:33 the beef here Jim 2:35 well that that it's not the point of 2:38 food you're right or wrong a trade war 2:41 just like it's not quite as spider-man 2:43 anymore 2:45 its water that's that's the problem it's 2:49 one can come to a solution without 2:51 without a trade within been great and if 2:53 happy days are here again with some of 2:56 the things mr. Trump says that the 2:57 Chinese have been very clear that if you 3:00 start a trade war with us we'd like to 3:02 receive you and say oh this is wonderful 3:03 get us again we gotta get back and that 3:07 always happens right for now let's try 3:10 again let's hope that they can be 3:12 discussion and and people can come to 3:14 some kind of reasonable and logical this 3:17 decision so regarding the market 3:23 I mean it's III don't know if we can 3:25 predict what what Trump is going to do 3:29 is you know replace Yellin doesn't even 3:32 really matter that much LOL up with you 3:36 what do you foresee for the United 3:39 States economy in 2017 juicy juicy 3:42 growth to see a stronger dollar 3:44 well yes it's off such taxes such 3:50 regulations rebuild infrastructure those 3:54 are good things they've always been good 3:56 for any economy anywhere in the world 3:58 and and we're gonna have a wonderful 4:00 have specific the problem of course is 4:03 how do you pay for all that it's 4:05 America's largest debtor nation in the 4:08 history of the world but way that would 4:10 be placed far is the three trillion 4:13 dollars three trillion dollars off shore 4:16 by American companies for tax reasons 4:19 this trumpet says he knows can figure 4:21 out a way to get that money to come back 4:23 so in here 4:24 you can get the three trillion dollars 4:27 to come home it will help pay for the 4:29 infrastructure and the tax cut and we 4:32 are really going to have a good time on 4:34 the other hand Trump is also about to 4:37 have trade works with Mexico China Korea 4:41 Japan and repeats you know throughout 4:44 history trade wars have led to disaster 4:47 bankruptcies and often well sometimes 4:49 too real war so I don't know you tell me 4:53 what is going to do i'm not sure he 4:54 knows what he's going to do said some 4:56 contradictory things a few times as you 4:59 probably well no and so once he resolves 5:03 what he's gonna do we're gonna have a 5:05 great time are disasters Jim if you were 5:10 in charge of the US economy I mean 5:13 what-what moves would you make to just 5:16 start growth and start the good times 5:19 you said how it got to do some of the 5:23 things he said I would cut taxes i would 5:25 rebuild the infrastructure that would 5:27 get rid of the regulations are 5:29 regulations are crippling for every 5:31 everybody got anything not just in 5:34 business if you have a hospital or 5:36 school or just about anything 5:38 the regulations are for crippling in 5:40 America compared to other countries and 5:43 I would come up with tax incentives to 5:46 get people to bring the money back to 5:48 the US I would not start trade ward in 5:51 fact i would open up the borders for 5:53 more and more both immigration and 5:56 training lies no America became the 6:00 greatest country in the 20th century 6:01 because we attracted people to come to 6:04 America we gave people and if they would 6:08 come to America and work and work force 6:11 we didn't just come and have a free 6:12 lunch and we became the most exciting 6:15 and the most successful country in the 6:17 20th century with open borders every 6:20 country in history that's open this for 6:22 this has had great success countries 6:24 which closed off had declined it's gone 6:27 into the class so i would i would open 6:30 for more trade and more borders 6:33 how would you be able to repatriate all 6:36 that money that stashed overseas I mean 6:39 what what would you be able to do to 6:40 convince those those individuals or 6:43 companies to to bring that money over 6:46 here for the reason that it's there is 6:50 that if they bring it home may have to 6:51 pay out attacted it's legally taxed at 6:55 lower rates if it's a broader nobody's 6:57 doing anything Laura legal tomorrow I 7:00 but if you cut the taxes to bring it 7:03 home and most companies will bring it 7:07 home and especially if you cut the taxes 7:09 to a to a level that's lower than they 7:11 would have to pay otherwise just cut the 7:13 taxes and if it takes it can give her an 7:17 extra tax incentives to bring it on 7:19 but probably just cutting the taxes to 7:22 the regular level will get the money to 7:24 come home so it's just a basic tax cut 7:29 i mean this is this is this doesn't seem 7:32 too complicated at I just don't I don't 7:35 understand why this this hasn't happened 7:37 before it's his dream Jake that 7:40 see that's the problem with you is 7:42 you're not a congressman you're not a PR 7:44 crash here if you're a logical thinker 7:46 and helped thousands miles with your 7:49 attacks and Congressman don't think like 7:52 you and normal people do 7:54 I don't see the problem either of course 7:56 money would be better off here 7:58 Topsy's that apparently you've got a 8:02 Washington and tell them okay yeah I'll 8:06 come tomorrow so i hope they listen to 8:09 me you know i know not that they're not 8:12 gonna listen to me because they don't 8:13 they seem to live in a bubble like 8:16 during the a no bigger example was 8:18 during the election when Hillary Clinton 8:22 arm during one of the debate was 8:25 bragging that Henry Kissinger was a 8:29 friend of hers and and not too long 8:31 after that a couple weeks later she had 8:33 you know what Lloyd Blankfein came 8:37 forward and publicly instead he endorsed 8:40 Hillary Clinton and for everyone that 8:42 doesn't know if they're Lloyd Blankfein 8:43 is 8:44 the CEO of goldman sachs and I mean that 8:48 obviously was coordinated through her 8:49 campaign nothing like that nothing that 8:53 major wouldn't be that's not something 8:56 you want to be you know but bragging 9:00 about you don't want to be like I'm 9:02 close with Kissinger I'm close with 9:04 blank line you know these people don't 9:07 live in the real I mean she just doesn't 9:10 she didn't understand and she probably 9:12 still doesn't that the past she was she 9:16 is on and was on it is not the one 9:19 that's successful for Hope politically 9:22 or for the American people you know is 9:24 if they live in it in a crazy bubble gym 9:27 I mean what do you think so Jake that's 9:29 why she didn't last one of the reasons 9:31 she didn't win but something does happen 9:33 to people when they go to Washington 9:35 I mean you could be a perfectly normal 9:37 human being American citizen and then 9:40 something i don't know what happens 9:41 people go to Washington eaters it is 9:43 they get elected they go there is a 9:46 beautiful dress and something happens 9:49 and we're watching just like Omaha 9:51 watching does not like rochester it's 9:53 not like the rest of the world and I 9:55 don't know what it is you know i i've 9:58 traveled around the world cup of have 9:59 and everywhere I go people love 10:02 americanus they loved it 10:04 the country but they don't like watching 10:07 the DC and I always ages 10:09 that's what I don't like washington DC 10:11 either super-psycho I don't know what 10:13 happens when they go down 10:15 yeah i mean in because of that that 10:20 weird bc bubble they live in and I I 10:24 just fear that a lot of the lot of the 10:28 damage done a lot of the capital that 10:31 it's led the United States is never 10:34 gonna come back and I'm not talking 10:36 about just from automation and all that 10:38 it's just we just don't have a suitable 10:42 environment for businesses to want to 10:46 come here you know it is it's a it's too 10:50 bad just because it wasn't always that 10:52 way 10:55 well the tax structure is certainly not 10:57 competitive with many countries 10:59 likewise you know litigation and there's 11:02 many companies in America have to spend 11:05 huge money for lawyers for lawsuit even 11:08 if they don't have the lawsuit they have 11:10 to protect themselves against the 11:11 possibility in America has more longer 11:14 than most of the Prophet the rest of the 11:16 world put together whatever we're all 11:18 suing each other and that's a gigantic 11:21 expense and and diversion for many 11:23 people our education system is not what 11:26 it used to be you know Americans don't 11:28 even finish in the top 20 in the 11:30 international energy education cast 11:33 America's not even a top-20 for us 11:37 healthcare is concerned it's partly 11:39 because they hospitals and doctors have 11:41 to spend so much money on litigation of 11:43 fighting lawyers protecting himself 11:46 no I you you make a very valid point now 11:48 Trump knows a lot of is he says he's 11:51 going to solve it 11:53 let's see if he does and if you can't 11:55 tell if you usually you moved to 11:57 singapore at i'm assuming for multiple 12:02 reasons one of them being business what 12:04 is a place like Singapore which has seen 12:07 enormous growth done so well where the 12:11 United States is failing 12:12 well as Singapore has been the most 12:17 successful countries that were on the 12:18 last 40 years and they set out with two 12:21 or three things when they have a very 12:23 low tax base true they want a half a 12:27 million people here for a few years ago 12:30 now they're five-and-a-half million but 12:32 they said we want to attract immigrants 12:35 we want people to come here but we want 12:37 smart accomplished educated successful 12:40 people i mean if you're just coming here 12:42 current there is no well-well thing us 12:45 and sing of words are workers off so you 12:47 can come here and get on welfare but if 12:50 you they'll let you and they'll attract 12:52 them do everything they can to get you 12:54 if you're smart educated or successful 12:57 accomplished in some way so first off 13:00 they open the borders to the line of 13:03 people have extremely low taxes 13:06 because they want people to be able to 13:07 to work and keep their money they have 13:11 very high savings in order to build an 13:15 economy us had died saving so there's 13:18 money to invest the singapore probably 13:21 will not probably it does have the 13:23 highest savings rate in the world are 13:25 now there's a lot of money for it 13:27 doesn't make they did it and i work for 13:31 yellow and education was very very 13:33 strong emphasis on education single 13:37 always comes out on top in the edges 13:39 international education chest at seven 13:42 minutes all-american not even in the top 13:44 20 in the International Education chest 13:47 and they could all the things that you 13:50 and I are the rational person would do 13:52 if you wanted to fill the country and 13:54 build an economy 13:56 I mean the whole man was he said now but 13:58 he was he was he had the inside and he 14:01 did I love this close they do just that 14:07 you said if you're smart in 1807 you 14:12 moved to London if you're smart in 1907 14:15 you moved to New York City and if you're 14:17 smart in 2007 you move to asia I mean 14:22 you do would you still say that that's 14:24 that's accurate today 14:26 oh absolutely i have patience 2007 you 14:32 said I did it for multiple reasons they 14:34 actually the real reason I did it I i 14:36 had a little girl and i have been 14:38 writing for many years China's going to 14:41 be the most important country in the 14:43 21st century and I said everybody teach 14:46 their children and grandchildren 14:47 Charlie and I had 10 guys want to i do 14:51 now so we started teaching her chinese 14:54 in New York but it was clear that she 14:56 was great at it but it was a serious 14:58 educated to a place where she didn't 15:01 have any choice but to speak challenge 15:03 so backed up we move through us 15:07 singapore which is a mutually i'm not a 15:10 new clothes there is full mountain it's 15:12 an independent country and here we are 15:15 this work she's great Chinese we have 22 15:18 children now 15:19 no I don't know if your parents but if 15:22 you're not as this thing it is no I 15:25 don't do strange things for that 15:26 children they moved into a place where 15:28 there's a good music teacher or a good 15:30 football coach at school to whatever 15:33 well we did it in fact up and brought my 15:36 kids here so that they would speak 15:37 mandarin speak Chinese have more with no 15:40 Asia ok I i thought you know for a long 15:47 time that that India would be the future 15:51 but you don't you're not bullish on 15:54 India and you said India as we know it 15:58 will not survive another 30 or 40 years 16:01 I mean can you explain that a little bit 16:03 more yeah india by the way you can only 16:07 visit one country in your life Jake I 16:09 was they go to insist it's got under 16:11 Spanish in combination of manmade 16:13 natural side of people the food 16:16 everything religions and languages was 16:20 walking out of string in India's of a 16:23 century these but it's a huge 16:26 bureaucracy there dozens or stores of 16:29 lately as languages and religions and 16:33 ethnic groups their Rockets is worst in 16:37 the world when the English ran out of 16:39 their 1947 and really just sort of said 16:43 ok you are now India but the Indian you 16:46 we see on map now has never existed 16:48 before the country has always been the 16:51 country's there in that area but the one 16:54 that we see now 16:55 something was just sort of pushed 16:57 together in 1947 and ran away to shreds 17:01 they should not you it's not a very 17:03 logical country I've got a heart of 17:06 bureaucracy that very high yet I mean as 17:10 I love love love to go there and as I 17:12 said if you can only visit one country 17:14 you should go to india in your lifetime 17:17 but as far as being a great success 17:20 I i think that the other places that 17:22 will never do you think some of that has 17:25 to do with the caste system that 17:26 allowing social and economic mobility 17:30 no of course it was there are many 17:31 things like that always contravention 17:33 whole country's back but the caste 17:35 system is certainly one in India if you 17:38 you could be the smartest kid in the 17:40 block that's looking at anything else it 17:44 wouldn't matter if you were born into 17:46 the wrong cat never going to go anywhere 17:50 that's unfortunate i if you if you have 17:54 a societal structure like that I'd I i 17:57 see it very hard for them to be to be 18:01 able to really reach their potential and 18:03 maybe they have a lot of potential it 18:04 have a lot of smart people over there 18:06 it's it's you know it's too bad that 18:09 they have that you know baked in the 18:11 cake so to speak but yeah when they 18:15 don't have too much education either the 18:17 only had four engines stay in school 18:19 after 12 years old and we have plenty of 18:22 very very smart in that means walk 18:24 around anyplace in America's you a lot 18:26 of smart inches many of them leave 18:28 because they don't have much education 18:30 they don't have much opportunity you see 18:32 successful Indians all over the world of 18:35 the reason they're all over the locus is 18:37 very hard to get ahead in India unless 18:40 you happen to be involved with the right 18:42 people and click that you know that 18:48 there's a lot of layers and plan to 18:50 Institute on pack but i'd like to get 18:53 into this quote is very interesting by 18:57 you that I caught your speaking at below 19:01 College Oxford when you said the power 19:05 is shifting again from the financial 19:08 centers to the producers of real Goods 19:10 the place to be is in commodities raw 19:13 materials and natural resources 19:17 I mean what would you would you were so 19:20 I mean what you put a great culture in 19:23 that category 19:24 Jim absolutely i'm very about 19:27 agriculture is one of the sectors of the 19:29 world economy which are most optimistic 19:31 going forward I told all those kids 19:33 should drop out of oxygen from farmers 19:36 unless they were in love with a feeling 19:38 that's actually great future in 19:40 agriculture we had great cycling world 19:43 history Jay and you know sometimes the 19:46 people who were producing real good 19:49 the Masters of the Universe sometimes it 19:51 was the financial types who rose to the 19:54 top we've had the fence what I when I 19:56 was a student 19:57 nobody wanted to go into form and and 20:01 and I was sort of sad because I want to 20:04 go to Wall Street but met then of course 20:07 that changed in the eighties and 20:09 nineties for 30 years or so and 20:11 everybody wanted to have that Trump 20:13 that's changing again now it's back to 20:16 being a farmer bombing is is that a 20:20 disaster for over 30 years 20:22 all that's in the process of changing 20:24 cake if you don't like being on the 20:26 radio to go ahead and learning how to 20:28 drive you do you know how to drive a 20:29 tractor Jake actually do I grew up on a 20:32 horse farm pressure 20:34 well your head of the most people have 20:37 to be sure that we not to the people are 20:40 driving dresses maybe you can start a 20:41 show the Agricultural Show and that's 20:44 basically how how lucrative do you think 20:51 it'll be I mean you you hinted at it 20:53 with this with this quote I i see what 20:56 where you said there's going to be a 20:59 huge shift in American society American 21:02 culture and the places where one is 21:04 going to get rich the stockbrokers are 21:07 going to be driving taxis the smart ones 21:10 will learn to drive tractors so they can 21:12 work for the smart farmers the farmers 21:15 are going to be driving lamborghini i'm 21:18 telling you we should start Forbes 21:20 farming that's that's a that's a really 21:23 good quote but I mean you do you think 21:25 it'll flip that much but always has 21:29 always has but I went to Wall Street and 21:32 the things i said before it was a 21:34 backwater nobody wanted to be on the 21:36 financial district in London or New York 21:38 literally everybody wanted to other 21:41 things the light at the university's i 21:43 went to and then that changed it changed 21:46 dramatically in the only the idiot son 21:49 went to Wall Street in those days people 21:52 couldn't figure out why anybody before 21:54 they're either in London are in New York 21:56 and farmers times and contribute and 21:59 extremely wealthy you know they're 22:01 always historic reasons all Street 22:03 collapsed in the in the thirties and 22:05 forties and fifties and even into the 22:08 sixties for historic reasons then they 22:11 turned around after a while it started 22:14 legal and agriculture went down the to 22:16 exchanging again you know the average 22:19 age of farmers Jake America's 58 in 22:23 Japan it's 66 I could go on and all the 22:25 shit just like that because nobody was 22:28 something far more people in America 22:30 study public relations and study 22:32 agriculture so there are no apartments 22:35 in the first place and I for certain 22:37 life that you can go to a place was not 22:39 much competition probably going to have 22:42 the way ahead of everybody else you're 22:45 probably going to be successful but 22:47 nobody's become a farmer and they're all 22:49 dying out 22:52 yeah I'm you make a fair i mean you give 22:58 you the greatest commodities trader of 23:00 all time so I mean you've been 23:02 introduced that lets say things like 23:04 that Jake Jake should have some effect 23:07 small town in the backwoods trying to 23:10 shove at but I just I just try that I 23:15 just trying to follow your advice here 23:16 because I mean you've been very 23:18 successful on the market so I mean if 23:20 you're it makes me really want to and 23:22 it's a very least invest in some sort of 23:25 agricultural I don't know 23:29 cooperate or something I it just if it's 23:33 gonna be that much of a flip you know is 23:36 that that's it's very intrigued i mean 23:39 because when we're looking at like the 23:40 big picture of the entire world i mean 23:43 you see the reuse in trouble are the 23:47 u.s. is in trouble I mean in terms of 23:50 debt large amount of debt and their 23:53 creditors are all are mostly in Asia you 23:58 know Asia is the huge creditor region of 24:02 the world and a lot of the assets are in 24:04 Asia I mean if you include Russia to the 24:06 buying in terms of 24:07 cold right now so I'm looking at this 24:09 this picture and I'm like you know I I 24:12 have to do something to save myself and 24:15 in my wife you know that you know this 24:17 is a this is a very dire situation 24:20 well everybody has to make your own 24:24 decision but you certainly hear your 24:25 analysis and the other fact you're just 24:28 all everything you said just how is a 24:30 fact not an emotion and those facts 24:32 happened to be true whether we like it 24:34 or not I still have an American do I 24:36 don't like saying that America's largest 24:38 debtor nation in the history of the 24:40 world in washington DC they have 24:42 absolutely no clue about what's 24:44 happening in America or in the rest of 24:46 the world everybody at the very 24:48 difficult decision your forebears packed 24:51 up and left in somewhere and thanks for 24:54 looking after your wife get my did my 24:56 forebears left but it and now realize 24:59 there was an easy but the people who you 25:01 often leave for the ones you have 25:04 ambition they're brave their 25:06 adventuresome and looking for something 25:08 new and get everybody has to make their 25:12 own decisions but the urinalysis and 25:14 your facts are absolutely correct 25:17 so I mean in the future how we see that 25:23 play out 25:24 I mean how we going to see this this 25:27 this region that holds all the cards and 25:30 this was this other region I mean that 25:32 has I mean not a lot of cards left foot 25:36 nuclear weapons 25:38 what do you thinks gonna happen else 25:40 okay well unfortunately what you just 25:43 happens to be true and throughout 25:45 history whatever you had a dominant 25:48 country that magnets or you know or goes 25:52 into the plan you add other countries 25:55 that were rising often leads to conflict 25:58 as after it offers usually does have 26:02 used to have throughout history and 26:04 that's not good for anybody know when 26:07 you have a war nobody went to war even 26:09 if people who think they won the war 26:11 didn't win the war look at the British 26:13 and the Germans British thought they won 26:15 the Second World War about you can help 26:19 if you were a half years older 1925 26:22 wasn't better off in Germany then you 26:26 Kenyon he's getting himself they want 26:28 the lord so my husband together in try 26:32 again we have to figure out catalyst 26:35 going to wind up its always round up 26:37 nearly always wonder some kind of 26:40 conflict 26:42 yes we have the nuclear weapons but look 26:46 at a map JH and after bomb a whole lot 26:49 of placers that some sake big world out 26:51 there in order to enable a window more 26:54 worried if you got I'd like it that 26:57 point that more yet 27:00 yeah i mean what what do you see as the 27:05 future of the US dollar gen well at the 27:11 moment I have an onslaught of US dollars 27:13 and the reason I own show me the US 27:15 dollars just turmoil that I have Hannah 27:18 dad it's probably coming into the world 27:20 of time and when they turn off people 27:24 look for a safe haven now most people 27:26 think of the US dollar finished our 27:28 grievance has a shape and it has been so 27:31 I own a lot of them because I felt that 27:33 people the engine US dollars things get 27:37 more complicated and too much with right 27:40 the dollar will get oh Christ a local 27:43 too high i hope i'm smart enough shell 27:45 is that point I don't know what I would 27:48 do them but Jake I remind you of america 27:51 is the largest the animation in the 27:52 history of the world never been a 27:55 country that has so much debt is we do 27:57 again I don't like saying it in america 28:00 i got these little girls for Americans 28:02 true but i have to face back so it's my 28:06 point is that the dollars i'll be going 28:07 to be strong stronger for a while 28:10 the thing is gonna like hit a wall i'll 28:13 be going to collapse 28:14 I happen every other country in the 28:17 world has been on top I currently have 28:20 been great for a while but every 28:22 currency that you can look at throughout 28:24 history when the country goes into the 28:27 class time she goes into the clients 28:30 sometimes disappears but also I mean 28:35 work for you were in unprecedented times 28:37 in terms of you know the world market so 28:40 I you've never seen the world market so 28:43 upside down with quantitative easing and 28:46 plunge protection teams and all that I 28:49 mean I read an article where the 28:51 Japanese federal of the Japanese Federal 28:55 Reserve Bank I mean whatever they call 28:57 it i forgot owns like nine percent of 29:01 everything that's on the Japanese stock 29:03 market and you know that's that's a very 29:07 fast i mean it's it's it's not good when 29:11 the government has that much control 29:12 over an economy you know they did to go 29:18 to write the Japanese central bank has 29:20 been fronting huge about your money 29:21 Japanese has gigantic in Charles debt 29:24 and they're very very far a lot of money 29:28 in Japan it's not gonna be central 29:30 bank's printing money and buying bonds 29:33 and then out buying shares and now it it 29:36 cannot laugh to make it worse you know 29:38 the Japanese population is in the class 29:41 it's been declining for a few years now 29:43 because they refused that babies they 29:45 refused to allow elevation so i can you 29:48 look at our ten-year old Japanese would 29:51 move because when those kids are 40 29:53 gonna be nothing there 29:55 I don't know where we're going to get 29:56 our sushi you know inserting years 29:58 because it's not going to be anything 30:00 that in Japan and this is happening in 30:03 many place never in world history of 30:05 interest rates in solo and that's 30:08 because all the central bank's printing 30:10 huge amount of money Jake this is not 30:13 going to work 30:14 it's it has the word so far all this 30:17 money printing hasn't revived in the 30:19 economy's Japan is filling recession 30:22 it's like going to work be worried 30:25 well yeah I when I when I watch CNBC and 30:31 they're talking about how oil prices 30:33 being solo is bad for the US economy i 30:38 know we're in some weird bizarro world 30:40 because I remember growing up and gas 30:44 being you know under a dollar a gallon 30:46 or whatever in that that was seen as 30:48 good for the economy but in in this 30:50 weird controlled fake market that we 30:55 have with everything it seems you know 30:57 low gas prices a bad it is it is it may 31:03 be only accepted your insights are 31:07 correct again that most they're mostly 31:09 for the world consume energy and produce 31:12 energy so yes the lower energy prices 31:15 the world have the better part the best 31:18 number of people either way Jake is 31:21 vector is horrified to go back down 31:23 again for a while who were in the 31:25 process of making a box with the bottom 31:27 30 plan it doesn't matter in this range 31:30 of you know 25 to 55 for making of a 31:34 bottom and it will go back to Alec so 31:37 you'll get a chance to Bochy captioning 31:39 sure but but stock up because then it's 31:44 going to turn around i don't like my 31:45 child next few years where do you see or 31:49 oil for our gas prices going or oil 31:52 prices going within the next couple 31:54 years 31:54 well gasoline obviously depends on the 31:58 state of the country for that matter I 32:00 the Germans a very very high structure 32:03 actually in Saudi Arabia say nothing 32:06 actually it depends on the kind of us 32:09 from the state offices of state taxes 32:13 but as I expect the world to go back 32:16 down for a while 32:17 again I'm not very good at market timing 32:19 chain works market timer or short-term 32:23 trader in the world but let's say it 32:25 goes to 30 of 35 or 40 whatever it is 32:28 then that will be taking father that's 32:32 when you should start 32:33 [Applause] 32:34 what what do you what do you see with 32:38 gold and silver 32:40 I mean do you mean we've had a lot of 32:42 people on the show saying gold and 32:44 silver is gonna you know that the price 32:47 is going to go through the roof 32:48 I mean what do you think Jim well I own 32:51 gold and silver and a half for a long 32:53 time but I have a funny any serious gold 32:56 and silver but 67 years now I showed me 33:00 up 33:01 I've had some psycho I that go to go 33:04 back down under a thousand let's get out 33:07 of bed market timer so the boy is I 33:09 expect another chance to buy go it 33:12 whatever prize when it goes if it goes 33:15 down and help us moderate enough to 33:17 stock up go to a lot of those cases 33:20 because for this is over hopefully and 33:22 chauffeur going to skyrocket and go 33:24 through the roof because we're gonna 33:26 have some oil chaos and serious problems 33:29 in the world 33:30 this isn't going to end well guys you 33:33 know 2008 the world have a big problem 33:35 because too much debt 33:37 ok since 2008 that everywhere has 33:41 skyrocketed 33:42 I just did America all over the world so 33:44 you know the problem i have that it was 33:46 then going to be much much worse next 33:48 time around and then we started having 33:51 real charm Allah that's when golden show 33:53 will go to it seems it seems you think 33:58 in the near-term next couple years year 34:01 to you see the United States doing 34:04 I mean relatively status quo in terms of 34:07 dollar or oil all that I mean oil going 34:11 lower yes what I mean nothing really 34:13 dramatic but a couple years down the 34:15 road you really see where the hurt 34:19 who could possibly commit well again 34:22 yeah I hope this year you you're right 34:25 about this year but again it depends on 34:26 what Trump guys if he does the good 34:28 thing 34:29 boy it's gonna be fabulous but if he 34:32 brings in some of the other things which 34:34 is said he swears he's going to do if he 34:37 starts straight wars with half the world 34:40 that's not gonna be good for anybody and 34:42 then the problems are going to happen 34:43 you know before the end of this year 34:46 but if he does things like cut taxes 34:48 such regulations all the rest of it 34:51 my goodness we've been waiting for 34:52 somebody like that if if I'm sorry I 35:01 lost my train of thought if um if Trump 35:05 I'm sorry if Trump passes his one 35:07 trillion dollar infrastructure package 35:09 and he's talking about paying for this 35:12 like you said with with capital that's 35:14 been offshored and also with fifty and a 35:17 hundred year bonds with that have like 35:20 historically low interest rates if that 35:24 really reinvigorates the economy like if 35:27 he really gets things going he starts 35:29 building airports dams and bridges and 35:32 all sorts of you know things that we 35:34 need combined with these lower tax cuts 35:38 and and more manufacturing jobs and they 35:41 could you see the dollar being saved and 35:45 in and in a dramatic price of gold and 35:47 silver being staved off for a while 35:51 oh yes that community-oriented the world 35:54 you just described go to the children is 35:56 not they're not going to go watch how i 35:58 got to go a little bit ago like oh I 35:59 told you to go under without who knows 36:01 LOL go in this scenario you just 36:04 outlined yes happy to hello DJ you 36:08 should be present 36:09 yes follow that happens but unfortunate 36:13 as I said these other things lurking in 36:16 the background 36:17 America is a gigantic better everybody's 36:20 got used that's now and trade wars have 36:23 trade words have never succeed trade 36:26 wars have always had a disaster i guess 36:30 one of the main lessons of history that 36:32 most people do not learn the lessons of 36:34 history many people even know history 36:37 say that this modern history but it's 36:40 different this time 36:42 maybe it is different this time Jake but 36:44 never in the history of the world has a 36:47 trade logistics for anybody 36:49 what are your thoughts on these trade 36:52 deals that trumpets about to renegotiate 36:54 or get out of I mean this morning he 36:57 just 36:58 by memorandum he we left the TPP and 37:02 Trump says he wants to renegotiate NAFTA 37:06 or if you can't get what he wants he 37:08 wants to leave 37:09 I mean what what what's your view and 37:11 the deal 37:12 well we trade has always been better for 37:15 for the world and then closed borders 37:18 and close tray 37:20 yes some people suffer with free trade 37:23 but remember in America 325 million 37:26 people and if the iphone cost of fine 37:29 things those down the quality goes up 37:32 we're better off here are some people 37:34 suffer 325 million obvious you better 37:39 and better and then the other people who 37:41 are suffering can go at you and are the 37:43 areas but they too can participate and 37:46 do well so I i know that the free 37:49 traders good at mr. Trump chen he says 37:53 he's going to make the deals better than 37:56 a hallelujah 37:57 that's great the problem is getting it 38:00 takes a lot of people to agree to 38:03 something a new trade agreement in 38:06 America is very they'll get to any trade 38:08 agreement through because of the many 38:11 many many vested interest in the people 38:13 in Washington but if he can do it then 38:16 right 38:17 what if he can get a better deal for 38:19 American and spread for remember Jake 38:20 the other side has to agree to Americans 38:24 making a deal with country X and we 38:26 actually got to do it too and not just 38:28 going to sit there and say / trunk 38:30 this is wonderful you take advantage of 38:32 us if they're not going to agree that's 38:35 good for everything just my mind 38:38 analysis of these deals the NAFTA and 38:40 and gatton captain and the rest of them 38:44 is no it doesn't leave much oxygen in 38:49 the room for American manufacturers or 38:52 businesses to produce things within the 38:55 United I mean it makes it almost 38:56 virtually impossible and they maybe if 38:59 it seems like it does that on purpose 39:01 you know it shutting down things here 39:04 moving them somewhere else and then you 39:07 know when they when those people start 39:10 develop 39:10 the middle class and maybe a maybe I 39:13 mean some crazy idea of having trade 39:16 unions you know is is crazy as that is I 39:19 mean I'm joking obviously but you know 39:21 then they moved to say Africa or 39:24 something you know it just seems like 39:25 this this group of companies get 39:29 together and make these deals and just 39:31 you know take wealth and in planet in 39:35 Asia they take it out of Asia and planet 39:37 in in Africa when you know conditions 39:41 aren't you no good for that my gas and 39:44 energy it just doesn't seem like it's 39:46 like we're all operating on a level 39:49 playing field like we're not allowed to 39:51 compete you know me well get that part 39:55 what yet but part of it is what we 39:57 discussed before I in America we have 40:00 these staggering regulations analysis 40:03 more on health care that any other could 40:05 borrow any more money on health care 40:07 than any other countries rough we're not 40:09 even to the top 25 which results 40:12 Americans don't have nearly as long as 40:14 there's other people that's because of 40:16 all the taxes regulations rules 40:18 complication we did that your eyes out 40:22 Jack mod you know you started 40:24 programming thing that Jack Foster when 40:26 the guys you did a lot of it to yourself 40:28 we did a shell but needed education we 40:32 spend far far far away more my own 40:35 education anybody else in the world 40:37 where kids are not even in the top 25 40:39 singapore live now as unbelievably low 40:44 taxes very few local regulations it's a 40:47 very free open market their kids come 40:50 out on top and all the International 40:52 first guess 40:54 test results so don't blame at home a 40:57 lot of it is is we've done it to 40:59 ourselves you can't blame education 41:02 results of the rest of the world you 41:04 accept the fact that rest of the world 41:05 does a good job you can't blame 41:07 healthcare being much better than the 41:09 rest of the world that is the US so no I 41:12 mean he's got a lot of it yourself 41:14 we also spend more money per person on 41:19 health care than any country in the 41:21 world 41:22 what it in and we get like horrible 41:25 results 41:26 infant mortality rate just went down 41:30 under obama for the first time in a long 41:33 time and then that's can very concerning 41:36 I mean I know this is a very broad 41:37 question a very general question as well 41:42 but why do you think this is happening I 41:45 mean I i see in a lot of cases Americans 41:49 put sensible before pragmatic solutions 41:54 I mean do you think that that's part of 41:55 what's happening it 41:57 well I'm not sure what the principal is 42:01 in education week but I remember it when 42:04 I was a kid long time ago I was 42:07 recruited somebody failed they failed 42:09 they got held back 42:11 it's very hard to fail in skins American 42:13 schools now they teach shellfish mean 42:16 you're in an asia you did on TV show 42:20 Christine you gotta ourselves you go to 42:23 school don't do well you don't have felt 42:25 within but they say well okay shape up 42:28 you know you gotta start doing better in 42:31 school or you're gonna do we're gonna 42:33 hold you back 42:34 we used to do that in America I'm not 42:36 sure when you say principal watch the 42:38 principle the principle that nobody 42:40 should fail now that's not very good 42:43 that's like saying unfortunately I've 42:45 certainly had plenty of failures in my 42:47 life I didn't like it but look back and 42:51 every time I made a mistake of failed it 42:54 always my fault that I usually got 42:57 something out we don't do that anymore 42:59 their self-esteem 43:02 no one should have to shut my gets the 43:06 principle i was referring to in 43:08 healthcare was that arm you know we have 43:11 the system where you know the owner 43:14 we used to have the system where the 43:15 uninsured had I mean now everyone is 43:18 mandated to have coverage but for the 43:20 longest time we had a situation where 43:25 people who didn't have health insurance 43:26 just went straight to the emergency room 43:28 for any minor thing that they had wrong 43:31 with them you know and then they left 43:33 ended up not paying the bill and then 43:35 that would 43:36 raise prices for everybody and instead 43:38 of just solving the problem it instead 43:41 of just may be offering Medicaid for 43:44 everybody which would make you know give 43:47 those gentlemen power urgent to 43:50 negotiate all sorts of things and and in 43:52 and maybe places wouldn't be so high for 43:56 everybody else with private insurance i 43:58 mean at you 43:59 I mean that that's just one thing one 44:02 idea i had is well you can childhood 44:06 medical problems that america i will be 44:09 a statue of you in every scene you can 44:11 America sure you separate it hardly fits 44:14 best for which been many many lortabs 44:17 much as every other country that we're 44:20 all on healthcare quality finish the top 44:22 25 you start having that problem 44:25 okay yeah I'll get on that Jim thank you 44:29 happy but Jim Rogers thank you very much 44:33 for coming on the show today I really 44:35 enjoyed the talk I'd like to give you 44:37 the floor to convey any message or our 44:41 plug any project you're working on 44:43 together gym 44:44 well i don't know i don't have any you 44:48 think selling by my latest book which is 44:50 called Street March inches on the road 44:53 in the markets but now I don't really 44:54 have anything she'll write my name 44:56 message a is that people should be 44:59 worried that she should start getting 45:01 educated and once they're educated 45:04 they're going to be worried then they 45:06 should start preparing themselves the 45:08 bad times are coming now don't invest in 45:11 anything that you don't understand 45:13 yourself so everybody has a start 45:16 getting prepared just a would let you 45:18 know 45:19 don't listen to me don't listen to add 45:21 on the television prices it has a 45:24 newspaper stay with what you yourself 45:26 know a lot about your publisher vibe too 45:30 hard time of it 45:31 thank you very much him and we'd love to 45:34 have you back on again in the future 45:35 my pleasure thanks Jake thank you 45:39 [Applause] 45:42 that was Jim Rogers we will be right 45:49 back with more black tile radio so stay 45:52 tuned

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 "