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

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%.