Jim Rogers was right about the looming economic crisis

Jim Rogers was already warning about a looming economic crisis a couple of years ago ,he predicted that there was going to be a recession then a couple years of fake recovery before a huge huge terrible depression. The latest OCC's Quarterly Report on Bank Derivatives Activities shows that the total notional value of all types of derivatives held by all US banks is 204 Trillion dollars. They show that just five US banks own 97% of them. They are JPMorgan Chase, Goldman Sachs, Bank of America, Citi, and Wells Fargo with HSBC in 6th place. If the US government budget is 3.8T$ and governs a 10T$ economy yet five commercial banks control 198 T$ of derivatives who do you think really runs the country?



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%.