Jim Rogers public broadcasts, investment viewpoints and a lot more.....daily

Jim Rogers inverviewed on BBC this week -

2011-08-14T16:51:00.000-07:00

European countries don't deserve current credit rating: Jim Rogers

2011-08-14T16:27:00.000-07:00

European countries don't deserve current credit rating: Jim Rogers - August 2011

2011-08-12T11:51:00.000-07:00

NEW DELHI: Commodities investor Jim Rogers says as governments the world over debase their currencies, investors will take refuge in real assets and gold is one of them. And European countries don't deserve their current credit ratings.
Gold price movements
Well, I own gold and I see gold breaking new highs and racing up. I don't like to buy things when that is happening; when gold goes down I will buy more gold. Gold is going straight up, it will probably correct somewhere and I hope it will correct somewhere along the line and if it does I will buy more.

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Jim Rogers: Bernanke, Geithner Leading Us Into Fiscal Armageddon Read more on Newsmax.com: Jim Rogers: Bernanke, Geithner Leading Us Into Fiscal Armageddon Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!

2011-08-10T21:00:00.001-07:00

The United States is quickly approaching a fiscal Armageddon and the players in Washington — specifically Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke — don’t understand what is happening or know what do about it, world renowned investor and author Jim Rogers tells Newsmax.TV.

The chairman of Rogers Holdings and Beeland Interests, Inc. predicted more problems in the financial markets in the next few years and said any halt in the decline of stocks was just a “temporary bottom.”

He said that while America was not at the brink of a fiscal Armageddon right now, the nation is likely to default on its obligations in the future.

“This decade absolutely, probably sooner than this decade,” he said. “It is astonishing America is the largest debtor nation in the history of the world. This is not good news, what is going on in Washington, these guys are really, really out of it, they don’t understand what's happening and we’re all paying the price and it’s going to get worse.”

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Jim Rogers Comments on the S&P Downgrade and Turbulent Global Markets

2011-08-10T20:55:00.001-07:00

I’ve always got time to listen to Rogers. He has done his research and has his opinions. He doesn’t change on a daily basis like most talking heads and when he is asked a question that he can’t answer he isn’t afraid to not try and answer it. And of course he has a long history of being pretty accurate in his thinking.

Here are his comments post S&P downgrade in an interview with Bloomberg:

- S&P downgrade is not news, everyone has known for a long time that the U.S. is the largest debtor nation in the world.

- Markets are going down because Europe has problems, U.S. has problems and China is trying to slow things down.

- Was asked how we know when there is capitulation, Rogers as always with the intelligent answer of “I wish I knew” (most talking heads would answer that question even though they could not possibly know an answer).

- Normally when you see selling building up like this we are heading towards a big selling climax, if there is one Rogers will consider covering some or all of his shorts.

- Anybody who is investing based on the downgrade should not be investing. The world has known this for a long, long time.

- Markets look six months to a year ahead and there are some bad things coming — that is what drives the market

- Wouldn’t you balk on a bailout for Italians if you were a hard-working German taxpayer?

- Rogers owns the Euro and the U.S. dollar; he owns it because everyone is so bearish on it.

- Hopes his agriculture, gold and silver will protect him if things go horribly bad

- The U.S. is going to print more money, that is all Bernanke knows and that is good for real assets.

- The only thing that works is facing the consequences. Let people who are bankrupt go bankrupt. Can’t prop everything up forever. The Japanese have tried it for 20 years and it has not worked.

- Japanese stock market 75% below where it was 20 years ago. The U.S. is going to have another two or three lost decades if they don’t change the course.

- Worried about gold and silver because they are going up to fast, if they do he will buy more because they are going much, much higher just like agriculture and other commodities.

- Already in rare territory for the number of days in a row the markets have come down so he is looking to cover some shorts.

- More inflation is coming, whenever people print money it leads to inflation, not happy about it as it will cause social unrest so you must prepare yourself for it (own commodities).

- In the early 90s when Japan propped up Zombie banks Scandinavia had the same problem. They let people go bankrupt and reorganized and have been booming since.

- Denying reality never works.

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Britain, other euro zone countries face ratings cut - August 8, 2011

2011-08-10T20:48:00.000-07:00

Jim Rogers feels Britian and several euro zone countries are likely to have their credit rating cut in coming months as debt problems worsen, and feels Western policymakers are bound to embark on more QE to stimulate their economies.
In an interview with Reuters insider Rogers opined “The idea that the US is downgraded and the UK is not is lunacy. There are many countries, Belgium, Spain, lots of countries in Europe, that should be downgraded just as the US has been downgraded.

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Let euro zone countries go bankrupt - August 2011

2011-08-08T21:30:00.000-07:00

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The market going down has nothing to do with S&P downgrade

2011-08-08T21:24:00.000-07:00

Jim Rogers on US Downgrade

2011-08-07T21:33:00.000-07:00

Jim Rogers on US Downgrade

Jim Rogers: Don't See How US Can Ever Pay Off Debts

2011-08-07T21:29:00.001-07:00

The U.S. doesn't deserve a AA-plus credit rating, much less triple-A, commodity bull and noted investor Jim Rogers told CNBC on Monday.
Rogers said the country was unlikely to be able to pay off its debt and Standard and Poor's rating cut had come too late and should have happened long ago.

"It seems to me it's physically, humanly impossible for the U.S. to ever pay off its debt," Rogers said. "They can roll it over and continue to play the charade, but the U.S. is bankrupt."

Rogers’ comments came during a CNBC interview with the head of sovereign ratings at Standard and Poor's, David Beers.

Beers said that according to S&P's calculations, total U.S. public debt, which includes local, state and federal government debt, will be $11 trillion this year, and will rise to $14 trillion in 2015 and to $20 trillion by 2021.

To put those numbers into perspective, according to the U.S. government's Bureau of Economic Analysis, U.S. annual gross domestic product (GDP) totaled $15 trillion in the second quarter of 2011.

Rogers, who has been critical of the U.S. economic policies for some time, said he remains short 30-year Treasurys, emerging markets and U.S. technology stocks but was long safe havens such as the Swiss franc, the yen and the dollar.

Rogers said he was also long commodities, especially gold and agriculture, and accepted that some of his long commodity positions may suffer in a selloff. Still, he won’t be selling.

"You should nearly always buy into panic just like you should sell hysteria," Rogers said. "I own gold, I'm worried about gold, it's going so up so much, I'm not going to sell it but it looks like it's setting itself up for a nice correction. I hope so then I can buy more."

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Expect more sell-off in the next 2 years: Jim Rogers - August 2011

2011-08-06T15:54:00.000-07:00

Jim Rogers, CEO of Rogers Holdings said, "This is not a one day thing... this has been building for a while... people have been worried about markets... commodity markets have been doing better but at the moment everything is going down because everybody is afraid of everything."

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International Investor Jim Rogers Reacts to Tumultuous Markets

2011-08-06T14:58:00.001-07:00

The stock market in the U.S. will open later this morning after its worst day in almost three years. Asian and European markets are down, and futures are volatile. Jim Rogers, an international investor who is chairman of Rogers Holdings and Beeland Interests, Inc., and author of "A Gift to My Children: A Father's Lessons for Life and Investing," reacts to the tumult in the international markets. He says long building fear is driving stock prices down around the globe.

Listen to the Interview here

Jim Rogers: US never scraped out of 2008 depression

2011-08-06T12:46:00.001-07:00

Jim Rogers - News on ABC Australia - 05 Aug 2011

2011-08-06T12:22:00.000-07:00

Don’t Sell Into Selling Climax: Jim Rogers August 2011

2011-08-05T11:07:00.000-07:00

Investors should not sell into a selling climax, according to Jim Rogers, the CEO and Chairman of Rogers Holdings.

Speaking following a 500 point drop in the Dow Jones index on Thursday, the veteran investor noted that 500 points is not what it once was, but warned the heavy selling was a result of huge debts being run up by the United States and Europe.

“We have had this debt charade (over the debt ceiling) in the US in recent days and the Europeans are not doing anything about their debts either,” said Rogers in an interview with CNBC.

“There are huge imbalances in the global economy and markets had to crack,” added Rogers, who founded the Quantum Fund with George Soros in 1970.

Asked what he would do to boost the global economy, Rogers dismissed the idea that more government spending to jobs was not the answer.

“You need to take an axe to debt, you need to take a chainsaw to the debt,” said Rogers who also dismissed the idea that another round of quantitative easing was the answer.

“America is making horrible mistakes. It is the largest indebted nation in the world and is going deeper and deeper into debt. The world is not in good shape the markets got to correct and take care of these imbalances,” he said.

“The market should be allowed to bottom out. QE1 (the first round of quantitative easing) and QE2 didn’t work. Let the market bottom out as more money printing will just make matters worse” said Rogers.

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Investor guru says there's money to be made in food - August 2011

2011-08-03T16:32:00.000-07:00

RENOWNED commodities bull Jim Rogers says he sees higher returns from agriculture than other commodities, and has predicted more international turmoil as food prices continue to rise.

Speaking in Sydney yesterday, Mr Rogers said the commodities bull market that started in 1999 had a long way to run, mainly because of a generally lacklustre supply response.
"Agriculture prices are still, on a historic basis, extremely depressed, and in my view I'll probably make more money in agriculture than other things," the 68-year-old Singapore-based investor and author told The Australian yesterday.
But Mr Rogers, who started the Quantum hedge fund with George Soros before retiring 31 years ago, said he was surprised food inflation was already contributing to unrest in countries such as Tunisia and Egypt.
"I fully expect more social unrest in the world, I fully expect more turmoil, but I didn't expect it to happen this quickly because food prices are somewhat depressed," he said. "It will slow growth but some people are going to benefit -- Brazil's booming, Canada's booming, Australia's booming, you're going to see some people benefit and some people suffer, that's the way the world works."
According to Mr Rogers, there appears no option but for food prices to keep rising, partly to bring in more farmers in developed nations, such the US and Japan, where the average age of those in the industry is 58 and 66 respectively.
He said: "Prices have to go a lot higher to attract capital and labour and management into agriculture or we won't have any food -- all the farmers are going to die, and then what are we going to do?"
Mr Rogers was in Sydney for the Australian launch of Royal Bank of Scotland commodities indices tied to his Rogers International Commodities Index.
The Alabama-born trader said there was little risk to parking money in commodities, even if the global economy started to slow down.
His theory is that if economies get worse, central banks will start printing money, leading to inflation. "When banks and governments start printing money, the best place to be is in physical assets," Mr Rogers said.
Turning to currencies, he believes the Australian dollar and the Chinese yuan are well placed.
"The Australian dollar's going to continue to rise, the Australian economy is going to continue to rise and Australia is going to be the lucky country for at least another decade or so because of commodities demand," Mr Rogers said.
He said he was buying yuan whenever possible because he was convinced it would be the most appealing currency when it was eventually untied from the US dollar.
Mr Rogers was also bullish on copper, gold and oil prices, saying they had further to run.

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Jim sets up a Commodities Index with RBS for the Australian Market - August 2011

2011-08-03T14:43:00.000-07:00

Commodities Investor jim Rogers has launched a commodity Index product with Royal Bank Of Scotland for retail investors in the Australian market.

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Jim Rogers interview with the Irish Independant August 2011

2011-08-02T16:44:00.000-07:00

The rest of the country is slowly waking up to the potential of agriculture. In an effort to focus on the positives in our economy, financial guru Eddie Hobbs had a well-known US investor, Jim Rogers, on his radio show last week.
Mr Rogers made vast fortunes in partnership with George Soros in the 1970s by focusing on investing in commodities. The US billionaire now says that the golden era for the financial sector or "money shufflers" as he calls them, is over. He predicts it will be better to be a farmer or miner than a banker or MBA-type in the years to come.
Like so many other investors, he believes that producers of food and other commodities are going to be the winners in a world that is increasingly scrambling for ever scarcer natural resources. He adds that the longer the sceptics believe that the current buoyancy in commodities is just a temporary spike, the longer this bull run will last.
Stagnate
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Jim Rogers Prepare for a lost decade or more - 27th July 2011

2011-07-27T22:12:00.000-07:00

The US is that largest debtor nation in history - 26th July 2011

2011-07-26T13:28:00.000-07:00

In his latest interview with The Wall Street Journal, famed Quantum Fund co-founder and investor Jim Rogers tells it like it is, as usual. Among other choice snippets, Rogers remarks that the current debt talk negotiations are simply a scam and a charade, and are just trying to get publicity. What follows are a few more, and you can view the entire video clip below.

On the US potentially losing its AAA status – The US has lost its AAA status. Anybody who knows what’s going on knows that the US is now the largest debtor nation in the history of the world. It’s only Moody’s and S&P that haven’t figured out what’s going on. The world, the investment world, the financial world knows that America is not AAA anymore. Who cares what Moody’s said? Moody’s has gotten everything wrong in the past 10 years, why do you pay attention to them?

On the US dollar – I own the US dollar because everyone is so pessimistic about it, and usually when that happens something comes along to cause a rally. Everybody sold the dollar under the current scenario, and that could well change.

On US long term bonds – I’m short United States government bonds, long term bonds. I wouldn’t lend money to the United States in US dollars for 30 years at three or four or five, or you name the interest rate.

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Jim Rogers - The United States Lost Its AAA Rating Long Ago... Who Cares What Moody's Says? 26th july 2011

2011-07-26T11:13:00.000-07:00

Is it just me or is Jim on television several times every week lately?

No matter, I'm always willing to watch because he has not often been wrong and he is always entertaining.

I actually just finished re-reading his 2004 book "Hot Commodities" and was surprised to see a reference to already inflated US real estate prices. Rogers was at that time already onto the housing bubble and likely consequences of it in the United States.

With a US default hot and heavy in the news as the CNBC crisis de jour, Rogers spoke yesterday to the WSJ and I've made some notes and attached a link to the video:

- Asked if US Treasuries aren’t still the safe haven, Rogers said this wouldn’t be the first time people have been wrong — Fannie Mae and Freddie Mac were once viewed as perfectly safe

- Politicians need to do something now to fix the debt situation — there is no waiting until the next election.

- The markets aren’t going to put up with the debt situation in the US much longer, and will cut the US off (meaning higher interest rates required for debt funding)

- He is paying zero attention to what the guys in Washington are doing regarding the debt ceiling, zero, none, zilch.

- They will do something to address the debt ceiling, that is not the worry. We need to be worrying about six months from now.

- Somehow the lady interviewing Jim seemed to take the last comment as reassuring (I guess because Rogers sees the problems six months from now not August 2) so Rogers said “Let me make sure you are clear, I am short the American stock market and I’m short the American bond market.”

- The market doesn’t seriously think August 2 is a problem.

- Rogers is short because the US situation continues to deteriorate, debt has skyrocketed, and the US can’t use debt to get them out the next financial mess.

- 30 years ago Scandinavia went through a problem like the US is facing and bit the bullet, faced up to their debt problems and experienced the pain. Now they have the model economies for the world. Japan did the opposite 20 years ago refusing to let anyone fail and Japan has now lost two decades. America is following Japan down the road to 20 lost years

- Rogers is long gold, agriculture, all commodities, short Treasuries, a large US bank, short US tech stocks, short emerging markets.

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Jim Rogers: US Leaders are Delusional Over Debt Ratings 26th July 2011

2011-07-26T08:10:00.000-07:00

While there is nothing new in the just released Jim Rogers interview with the WSJ, it is always refreshing to hear him tell the truth, which is, of course that “the US has already lost its AAA status. Who cares what Moody’s say.”

As for the response: “The market looks ahead: this is not the first time that the market has dealt with the fact that the US is bankrupt.” As for his proclivity to buy long term US debt: “I wouldn’t lend money to the US in US dollars for 30 years at 3%, or 4%, or 5% or you name the interest rate…. I shorted it June 10. I am short the US bond market as we speak.” Great stuff as usual.

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Greek resolution worse for the euro

2011-07-25T14:30:00.000-07:00

Eurozone leaders revived hopes for the future of the single currency last week by agreeing €109bn of further aid for Greece, some of which will be funded by bondholders as the country is allowed to selectively default.

Outspoken industry maverick Jim Rogers has previously said the eurozone debt crisis was “the death knell for the euro”. Speaking exclusively to Investment Week, he explains why the latest bailout has made the situation worse for the single currency.

How has last week’s news impacted your view on the euro?
EU leaders are just doing the same thing, but they are making the problem worse. This does not change anything from what I have said about the euro before.

Do you view the haircuts for bondholders as a drastic step?
It is a positive step but not a drastic step. A drastic step needs to be taken, but this is nowhere near that. It is a step in the right direction, but it is going to get a lot worse before it is over.

What is needed to save the euro in your opinion, if it can be saved?
You have got to make these people cut spending with an axe. We have to go to the Greeks, Belgians, Italians and French and say “we cannot do this anymore”. The world has changed, financial markets are not going to accept this kind of garbage in 2013 or 2018 – we cannot continue.

Irish and Spanish bond yields have fallen from recent peaks. Does this mean contagion risk to other European economies is less of a worry?
This is just delaying the problem and making people think things are better. But Spanish, Greek and Belgian debt will still go up – it makes everyone feel better for a while.

All the politicians are hoping they can put things off until the next election, but that is all it is doing. It is not solving the problem.

How are you playing the crisis?
I owned the euro since last summer and I am not selling it. I am not changing my view.

If the authorities can change their view, the euro will be the greatest currency in the world, but not until they solve their fundamental problems.

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What the world's best commodity investor is buying now

2011-07-25T14:29:00.000-07:00

Jim Rogers believes the fundamentals behind this metal remain compelling

Gold stocks were a hated asset a few months ago.

I'm sure most investors don't remember. After all, the price of gold just touched $1,600 an ounce this week – an all-time high. Most gold stocks have also had a heck of run in July.

But back in a two-week stretch from April through May, the picture was different. Gold stocks were in a violent downtrend.

The pullback in gold stocks was unusual. After all, the price of gold barely budged. Yet, gold stocks corrected more than 12%.

My colleague Jeff Clark used this disconnect to buy gold stocks in his Short Report newsletter. Jeff argued that as long as gold prices remained near record levels, it was just a matter of time before gold stocks snapped back.

He was right. This month, the large-cap gold index is up 12%, outpacing gold's gains.

With gold prices touching new highs and gold stocks bouncing back, should investors take profits?

I asked legendary commodity investor Jim Rogers this question on this week's S&A Investor Podcast. That's our radio-like show, where I interview the market's top hedge-fund managers, economists, and stock analysts. (You can listen to the full interview for free by clicking here.)

Jim and I talked about the dollar (he is long as a short-term trade right now), how he invests in commodities, and the recent move higher in gold prices.

Jim said he hasn't sold any of his gold. In fact, he just added to his position last week.

Jim believes the fundamentals behind gold remain compelling... Demand from China and India is surging. Due to our reckless spending habits, the dollar will be worth nothing more than confetti. Plus, there is little supply of the metal.

Conventional wisdom tells us we should buy assets low and sell high. But Jim Rogers, the smartest person in the room, continues to buy gold with the price up 100% in two years.

If Jim's right and gold prices push higher, margins for gold producers will soar. The cash cost for most major companies to produce an ounce of gold is less than $500. Just imagine the earnings these companies will report if gold prices push past $2,000 an ounce.

I would think twice about selling your gold stocks on this short-term rally. In fact, it may be a good idea to add to your gold positions right now.

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The U.S. Already Has Lost AAA Rating

2011-07-25T14:14:00.001-07:00

Has the U.S. already lost its AAA credit rating?

With debt ceiling talks ground to a halt, Kelly Evans put that question to famed investor Jim Rogers. His answer? An emphatic yes.

“Everyone already knows that the U.S. has lost its AAA status,” Rogers said. “Anyone who knows what is going on, already knows that the U.S. is now the biggest debtor nation in the history of the world. It’s only S&P and Moody’s that haven’t figured out what is going on. The investment world knows that the U.S. is not AAA.”

Rogers also called the current debt negotiations in Washington a political “charade.”

“I don’t expect them to have real spending cuts. They have been talking about this for 40 years, talking about how they are going to solve the problem of the deficit. Remember the Grace Commission? Remember the Gramm-Rudman act? The Gramm-Rudman act said we couldn’t have deficit spending 25 years ago. They forgot about that.”

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