Author Topic: Jim Rogers: 'Run for the Hills,' I'm Doing It  (Read 1230 times)

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Offline DCPatriot

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Jim Rogers: 'Run for the Hills,' I'm Doing It
« on: March 28, 2013, 06:36:42 PM »
Jim Rogers: 'Run for the Hills,' I'm Doing It

 The EU/IMF precedent of raiding bank accounts in Cyprus to bail out the country's financial system sets a dangerous precedent and investors should "run for the hills" said investor Jim Rogers, chairman of Rogers Holdings, on "Squawk on the Street" Thursday.

Rogers said that with Cyprus, politicians are saying that this is a special case and urging people not to worry, but that is exactly why investors should be concerned.

"What more do you need to know? Please, you better hurry, you better run for the hills. I'm doing it anyway," Rogers said. "I want to make sure that I don't get trapped. Think of all the poor souls that just thought they had a simple bank account. Now they find out that they are making a 'contribution to the stability of Cyprus. The gall of these politicians."

"If you're going to listen to government, you're going to go bankrupt very quickly," he added.


http://finance.yahoo.com/news/jim-rogers-run-hills-im-155520607.html;_ylt=ArJxwvxLeCsKbS6AGliKtOCiuYdG;_ylu=X3oDMTQ4Nmd2bXNwBG1pdANDTkJDIFRvcCBTdG9yaWVzBHBrZwM4MjYyZTk0Yi0zMDA3LTMxMzItOThjMC01Zjc1NzNmYmZiYTEEcG9zAzUEc2VjA01lZGlhQkxpc3RNaXhlZExQQ0FUZW1wBHZ


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Offline sinkspur

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #1 on: March 28, 2013, 07:15:15 PM »
Rogers is the same guy who predicted $6.00/gallon oil because "the world is rapidly depleting the supplies."

I can't recall when this guy EVER recommended American stocks.  Yet the DOW and the S&P are at record highs because there is nowhere else for investment money to go. 
Roy Moore's "spiritual warfare" is driving past a junior high without stopping.

famousdayandyear

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #2 on: March 28, 2013, 07:25:40 PM »
Jim Rogers has been invested in commodities forever.  The Fed is buying equities to shore up the market

Offline sinkspur

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #3 on: March 28, 2013, 08:56:38 PM »
Jim Rogers has been invested in commodities forever.  The Fed is buying equities to shore up the market

Where's the link to the fact that the Fed is buying up equities?
Roy Moore's "spiritual warfare" is driving past a junior high without stopping.

Offline evadR▓

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #4 on: March 28, 2013, 09:28:00 PM »
The Fed is buying debt to shore up the market, ie QE 1, 2, 3 and on forever. I don't know of any equities that the Fed would be buying.
That combined with arbitrarily low interest rates is all that's keeping this bubble going.
The question is not if the bubble will pop but WHEN.
November 6, 2012, a day in infamy...the death of a republic as we know it.

Online Bigun

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #5 on: March 28, 2013, 09:35:30 PM »

Offline Cincinnatus

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #6 on: March 29, 2013, 12:00:49 AM »
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams

Offline Rapunzel

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #7 on: March 29, 2013, 03:30:21 AM »
"Some" people don't care the country is on a path to falling off a cliff as long as the stock market keeps going up.......

famousdayandyear

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #8 on: March 29, 2013, 04:12:24 PM »
Where's the link to the fact that the Fed is buying up equities?

Bernanke is Using His 2002 Playbook to Combat Deflation... Here's What's Coming Next
from StreetInsider.com

June 22, 2011 4:48 PM EDT

One of the most important takeaways from Wednesday's conference call with Fed Chairman Ben Bernanke was that QE3 is not currently in the cards, since it is believed the recent slowdown is temporary. While this may be the case, Bernanke signaled that any signs of deflation will be met with more support from the Fed.

As Mr. Bernanke didn't discuss the specifics of what QE3 would look like if needed, he essentially said a program like the current bond buying program may not be effective.

Interestingly in the Q&A, Fed Chairman Ben Bernanke referred back to his speech on deflation 10 years ago, often called the "helicopter Ben" speech. Here's what he said Wednesday in response to a question about the U.S entering its own lost decade similar to Japan.

"Well, I'm a little bit more sympathetic to central bankers now than I was 10 years ago. I think it's very important to understand that my comments, both in my comment in the -- published comment a decade ago, as well as in my speech in 2002 about deflation, my main point was that a determined central bank can always do something about deflation. After all, inflation is a monetary phenomenon, the central bank can always create money, and so on."

Looking back to the 2002 speech, it reads like a playbook for the current economic crisis. The thesis of the speech is - while the U.S. would not likely enter a deflationary environment, here is what we can do if it happens.

Mr. Benanke was wrong in assuming the U.S. would never enter this type of situation, and the moves the central bank has recently taken to combat deflation have, in effect, been a play-by-play of his 2002 suggestions.

Benanke's playbook reads: take rates to zero (check), if that doesn't work, expand assets purchases (check).
If that doesn't work...

"begin announcing explicit ceilings for yields on longer-maturity Treasury debt (say, bonds maturing within the next two years)."

- or -

...Of course, if operating in relatively short-dated Treasury debt proved insufficient, the Fed could also attempt to cap yields of Treasury securities at still longer maturities, say three to six years.

- or -

If lowering yields on longer-dated Treasury securities proved insufficient to restart spending, however, the Fed might next consider attempting to influence directly the yields on privately issued securities.

- or -

The Fed can inject money into the economy in still other ways. For example, the Fed has the authority to buy foreign government debt, as well as domestic government debt. Potentially, this class of assets offers huge scope for Fed operations, as the quantity of foreign assets eligible for purchase by the Fed is several times the stock of U.S. government debt...

Fed purchases of the liabilities of foreign governments have the potential to affect a number of financial markets, including the market for foreign exchange....

Although a policy of intervening to affect the exchange value of the dollar is nowhere on the horizon today, it's worth noting that there have been times when exchange rate policy has been an effective weapon against deflation. A striking example from U.S. history is Franklin Roosevelt's 40 percent devaluation of the dollar against gold in 1933-34, enforced by a program of gold purchases and domestic money creation. The devaluation and the rapid increase in money supply it permitted ended the U.S. deflation remarkably quickly. Indeed, consumer price inflation in the United States, year on year, went from -10.3 percent in 1932 to -5.1 percent in 1933 to 3.4 percent in 1934.17 The economy grew strongly, and by the way, 1934 was one of the best years of the century for the stock market. If nothing else, the episode illustrates that monetary actions can have powerful effects on the economy, even when the nominal interest rate is at or near zero, as was the case at the time of Roosevelt's devaluation.

- or -

In practice, the effectiveness of anti-deflation policy could be significantly enhanced by cooperation between the monetary and fiscal authorities. A broad-based tax cut, for example, accommodated by a program of open-market purchases to alleviate any tendency for interest rates to increase, would almost certainly be an effective stimulant to consumption and hence to prices. Even if households decided not to increase consumption but instead re-balanced their portfolios by using their extra cash to acquire real and financial assets, the resulting increase in asset values would lower the cost of capital and improve the balance sheet positions of potential borrowers. A money-financed tax cut is essentially equivalent to Milton Friedman's famous "helicopter drop" of money.

- or -

Of course, in lieu of tax cuts or increases in transfers the government could increase spending on current goods and services or even acquire existing real or financial assets. If the Treasury issued debt to purchase private assets and the Fed then purchased an equal amount of Treasury debt with newly created money, the whole operation would be the economic equivalent of direct open-market operations in private assets.

So this is the playbook. Please pay attention. It is happening right in front of our eyes.

« Last Edit: March 29, 2013, 04:21:33 PM by famousdayandyear »

Online Bigun

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #9 on: March 29, 2013, 04:23:19 PM »
Whether by covert or overt means, theft is still theft unless, of course, it's the government doing it!

Online truth_seeker

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #10 on: March 29, 2013, 04:47:43 PM »
Well over half of Americans have a direct or indirect interest in the stock market.

The stock market only reflect publicly traded company ownership.

http://www.businessinsider.com/chart-stock-market-ownership-2013-3

Conservative-Republicans should emphasize this continually. Most people are either business owners, work for a privately held business, or work for a publicly traded business.

Only government employees do not, yet their jobs depend on taxes from all the above.

I'm in favor of stock prices heading up. If there is trouble in the world, the US is where to be.

Most likely case: The sky is not falling.
"God must love the common man, he made so many of them.´┐Ż  Abe Lincoln

Offline evadR▓

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #11 on: March 29, 2013, 08:31:25 PM »
November 6, 2012, a day in infamy...the death of a republic as we know it.

Offline goodnessR▓wins

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Re: Jim Rogers: 'Run for the Hills,' I'm Doing It
« Reply #12 on: April 01, 2013, 10:40:05 PM »
I am spending like mad....trying to make sure we have what we may need for the next 30 years.....whether that will help or not, who knows, but I'm tired of "saving"....and then seeing others who did not have what THEY need....


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