Thursday, July 30, 2015

BRICS Bank: SPIEF 2015 Panel (ft. Jim Rogers)


RT and SPIEF have jointly held a panel discussion titled ‘THE NEW DEVELOPMENT BANK: A STRONGER ROLE FOR BRICS IN THE GLOBAL FINANCIAL ARCHITECTURE’.

The BRICS economies have established a USD 100 billion development bank to be based in Shanghai. What does this new institution mean for global economic management? What are some of the key areas of focus over the medium term?

RT presenter Peter Lavelle was joined by a set of very distinguished guests - representatives of banks, ministries, think tanks: Pedro Alba, Amar Bhattacharya, Vladimir Dmitriev, Kundapur Vaman Kamath, Philippe Le Houerou, Sergey Storchak, and Shaolin Yang. Front-row guests: Ben Aris, Yaroslav Lissovolik, and Jim Rogers.


Saturday, July 25, 2015

Russia woes, Grexit? Just buying opportunities


Russia's economic problems and Greece's possible exit from the euro zone are just more buying opportunities, says legendary investor Jim Rogers.


Monday, July 20, 2015

Greece will collapse this week and people will be terrified


Hundreds gathered in Paris to show their solidarity with Greece, supporting Athens' resilience in fighting the harsh bailout conditions now being demanded. The protesters were mainly from France's left-wing parties.The prime minister is calling for Greece to be respected, to make sure it stays in the eurozone. For more RT is joined by Jim Rogers, Financial commentator and co-founder of the Quantum Fund.


Friday, July 17, 2015

Jim Rogers: Turmoil Is Coming


I suspect in the next year or two we will see some kind of major, major problems in the world financial markets.

I would suspect when we have this correction, it's going to cause central banks to panic. There's going to come a time when there is not much the central banks can do when they have lost all credibility. When governments have lost all credibility. They will print and spend and borrow, but there comes a time when people are just going to say We don’t want to play this game anymore. And at that point, the world has serious, serious problems because there's nothing to rescue us.

I suspect the next economic/financial collapse will be the one they can't deal with. But, if somehow they are miracle workers, be very, very careful. I would be worried about 2022 – 2023 then. The game will definitely be up if it's not up this time around.


My US Dollar holding is my largest position. Not because I have any confidence in the US Dollar; it's a terribly, terribly flawed currency. We are the largest debtor nation in the world’s history. And the debt is going higher and higher and higher. But there is going to be more turmoil coming. And during periods of turmoil people flee to a safe haven. The US Dollar is not a safe haven, but many people think it is, and they don’t know what else to do. So they will go to the US Dollar. They are not going to go to the yen. They are not going to go to the Euro.

We may even see the US dollar, for a variety of reasons, turn into a bubble. That of course is not good for gold. Gold may drop a lot, at which point I would have to sell my US Dollars and hopefully be smart enough to buy gold.

- Source, Peak Prosperity

Monday, June 15, 2015

Investing in China for the Long Term

Taking a longer-term perspective, Rogers reiterates what he's long said: China today is like the U.S. at the start of the 20th century.

"We rose to power and glory in the 19th century despite a horrible Civil War, 15 depressions, very few human rights, little rule of law and yet we became a pretty successful country in 20th century," Rogers says. "That's my view of China."

Rogers' long-term optimism about China was further burnished by the November 2013 Third Plenum, when the country's Communist Party leaders declared the market would play a “decisive role” in the economy going forward.

"To my astonishment and delight, they came out and said 'during periods of uncertainty, were going to let the market decide,'" he recalls. "They said the market is smarter than they are. If only people in America and Europe would figure that out; that the market is smarter than our bureaucrats."

Rogers notes "they have intimated they're going to let people go bankrupt. There's some people in the real estate business in China who should go bankrupt. I hope they let them."

Whether or not Chinese officials will really 'let the market decide' in times of market turmoil remains to be seen. In recent months, however, China has followed a familiar script of stimulus packages designed to soften the economic slowdown. The People's Bank of China (PBOC) has cut its benchmark interest rates twice this year and cut reserve requirements for lenders in February. The government has also discussed liberalizing deposit rates and announced plans to restructure its more-than 100,000 state-owned enterprises.

Partially as a result of these steps, the China stock market has surged: The Shanghai Composite was up 27% year-to-date as of Tuesday's close while the Shenzhen Stock Exchange was up a whopping 55%.

"The Chinese stock market is beginning to form a bubble" that could spread to Taiwan, Hong Kong, Singapore and other regional markets, Rogers says. Nevertheless, he's not too concerned, saying: "If you sold your American stocks in 1915, you might have looked smart for a while but you would've looked pretty foolish over the next 80 years."

- Source, Yahoo Finance

Friday, June 12, 2015

Jim Rogers "absolutely" still bullish on China

A lot of water has gone under the proverbial bridge since 2007, when legendary investor Jim Rogers moved his family to Singapore, citing the region's huge potential. Of late, China's economy has stumbled badly even as its stock market has surged.

Rogers is "absolutely" still as bullish on China today as he was back in 2007 when he published A Bull in China, one of his many books. "Whatever happens, my children are still speaking Mandarin," he says. "They're not going to stop speaking Mandarin and learn Danish or something."

Overnight Wednesday, the Chinese government reported first-quarter GDP growth of 7% vs. the consensus estimate of 7% and 7.3% in Q4. The World Bank recently cut its 2015 forecast for Chinese GDP to 7.1%, roughly in line with the "new normal" President Xi Jinping discussed last year.

Asked about these figures and Rogers shrugs: "I pay no attention to those numbers," he says. "Most governments make up the numbers. The idea the Chinese government couldn't have any clue about what's going on in China is a little mind boggling to me. I'm sure they're certainly the right direction...but whether it's 3% or 9% I have no idea. China continues to grow, continue to boom."

- Source, Yahoo Finance

Tuesday, June 9, 2015

Jim Rogers View on the US Dollar

It's my largest currency position, at the moment, but I emphasize at the moment.

I own a lot of dollars and have done for the last couple of years, but it has gone straight up. Anything that goes straight up you have to start worrying about.

People perceive the dollar as a safe haven. It's astonishing that the biggest debtor nation in history is going to have a bubble in its currency.

- Jim Rogers via CNN

Saturday, June 6, 2015

Would you buy North Korea?

Yes! I'm very excited about North Korea. If I could put all of my money into North Korea, I would. Massive changes are taking place there. I would not have invested in Kim Jong Un's father or grandfather by any stretch of the imagination, but that's like saying that in 1980 you shouldn't invest in China because of Mao Zedong.

Mao was dead and Deng Xiaoping was making huge changes. They are making huge changes in North Korea. The kid is making astonishing changes.

- Source, Jim Rogers via CNN

Tuesday, June 2, 2015

Are you still optimistic about China, even as economic growth slows?

I'm still very bullish. I'm still buying more China stocks as we speak. We are supposed to buy when things are difficult.

Right now for a variety of reasons the Chinese are trying to encourage their capital markets, the population is pouring into the market, so is the rest of the world and so am I.

- Jim Rogers via CNN

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