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%.

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%.

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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 "
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