Posted on 03/11/2013 4:09:06 PM PDT by Lorianne
Despite the current stock market rally, legendary investor Jim Rogers say the U.S economy is poised for a major crash and is warning investors to protect themselves immediately.
In a riveting interview on Fox Business, Rogers warned Americans not to trust any of the positive economic news coming from world governments.
"I don't trust the data from any government, including the U.S., Rogers said. "We know that governments lie to us. Everybody's printing money, but it cannot go on. This is all artificial."
Rogers, who for years has been an outspoken critic of the Feds policies of "Quantitative Easing" says all the money printing is creating false hope that we are in the middle of some kind of super bull market.
But in reality, he says, "we're living in a fool's paradise."
"The Bank of Japan says it's going to print unlimited amounts of money... Then Mr. Bernanke said I'll match that... I'll print that money too. The Europeans are catching on. You've got money printing going on everywhere and that has never been good for anybody," Rogers said.
Currently, Bernanke and company at the U.S. Fed is buying $1 trillion of Treasury and housing agency bonds each year. That's about $85 billion per month against a budget deficit that is about the same level.
The real risk right now is an all-out 1930s-style currency war that could devastate an entire class of investors who have put their faith in the current economic dogma of endless bailouts and money printing
"It cannot go on," Rogers warns.
(Excerpt) Read more at moneymorning.com ...
Strong cash position and hold your breath.
My parents lived through the depression they said all this would happen.
Oops...savvy :) Savey, whatever.
Investors...put your money in TAXES. That is sure to go up!!
Governments have learned that they can rob the people by printing money. It is now a race to the bottom.
Jim Rogers?
I always thought that guy was creepy.
His kid show and the sweater and the shoes..
Creepy.
Yep, on another thread I mentioned that watching consumers at big box joins like Walmart are a good barometer. A couple of days ago, at 10 am, there were more vendors there than customers. What was in baskets was almost exclusively staples. Obama’s and Bernanke’s smoke and mirrors act is getting ready to be flushed out pretty shortly.
Boy I sure didnt see that yesterday at Home Goods. People were buying lots and big ticket items.
I’m with you.
It’s an alternate reality with eventual reality.
I’ve gone back and forth between a weak and strong US Dollar, but have become convinced that the US Dollar will be the best place in the end.
Hard assets, NOT GOLD, real estate, land and cash producing investments will be the next wave.
If you watch Kyle Bass, he said it best, when he said Govt’s will never tell you things are bad.
The question remains, what will be the trigger?
I am of the opinion that cash will get destroyed by inflation. Gold and Silver seem to be manipulated. I agree, not much of a good place to put anything right now. And because there are so many sitting on the sidelines, the next bubble will hyper inflate and pop really fast. That is once everyone agrees on the next “big thing”.
Right now I’m working on paying off debt, buying some farmland, building a generation house for me and my kids; setting myself up to produce food and bio-diesel. Enough for my family, a few friends and enough to trade for other things should I need them. Also plan on having a cottage industry on the side but I’m keeping those plans to myself. In general, keeping my head down and out of anyone’s target.
That's not to say he's wrong, but it is to say he's been 180 degrees wrong on American stocks most of the time.
Iceberg ahead. Buy toilet paper. If only I could put my money in leg thrills. All I’d then have to do would be to arrange a face-to-face between Obama and Chris Matthews, and I’d be the next Donald Trump.
It's stupid to hold cash in fiat dollars. Put yourself into metal departments, coins included.
You got that right. It's not a question of if, but now when. I am torn between two scenarios. One will be a military conflict bringing in numerous countries into a fray. (Maybe NK or Iran?) Wars historically bolster economies, but with the debt load now, I am worried that a panic will be the response. The second, and more likely trigger will be a large nation defaulting on debt, and fully collapsing. Then...the dominoes start falling after realizing Germany or China doesn't have the captial to stop it. Best guesses, are Italy (after last week), Spain, and Greece.
In financial terms that is considered a cash position,,,,, i.e liquidity
Might as well payoff your mortgage if you haven’t.
I’ve said this several times but my barometer and one I didn’t notices until after the 2008 meltdown was people getting rid of their horses.
No one wants to buy them and they are just giving them to a guy who takes them to slaughter in Mexico. Not just one or two but 20 to 30 a week and a couple weeks ago 150.
People just can’t afford to feed the kids, the car and the horse so something has to go.
Haven’t had one of those for 20 years. I am an obsessive investor.
Here is Jim Rogers last prediction: http://www.freerepublic.com/focus/f-news/2431782/posts
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