Jim Rogers December 2013 Interview

Roger warns of social unrest

This is not going to be fun. Don't think I'm looking forward to this. It's going to be a disaster. I don't see the bureaucrats coming to their senses, so it's going to be the markets, and it's going to mean a lot of unpleasant times.

You're already seeing social unrest in many countries, and it's going to get a lot worse I assure you.

via www.Jimrogerblog.com

US Gold reserves not enough for the dollar

The US government according to various reports holds 8,133 tonnes of gold bullion reserves. 

It might seem like a lot but according to Jim Rogers, "It's not nearly enough to back the Dollar because we're the largest debtor nation in history – trillions and trillions of dollars."

Jim Rogers on Gold Seek

Hear Jim Rogers talk from minute mark 1 hour 16 minute

Stock market rise has been for for those who benefited

This is a lot of fun for those participating [in the stock market rally]. 

But the overall situation is getting worse and worse. We're all going to have to live with the consequences of printing money.

Jim Rogers: Im not a market timer

This [Gold] correction could last another few months. I don't know, I'm not a market timer. I'm terrible at short-term trading. But if it goes down more I hope I'm smart enough to buy more. I'm certainly not selling [gold].

Jim Rogers Net Worth

Jim Rogers net worth is an estimated amount of $300 million as of 2013. 

In recent years, Jimmy Rogers has authored several books. In total, his net worth is attributed to smart business ventures and including his success in writing.  
He was born in Baltimore, Maryland in the United States of America. He currently lives in Singapore with his wife and daughters. 

I lived in the backwoods of Alabama and More

Wait until next crisis 2014-2015

2008 was so much worse than 2000 because the debt was so much higher, you wait until 2014 or 2015 when the next crisis hits... Debt has gone through the roof, the next one's gonna be really bad. 

Be prepared, be worried, and be careful.

Commodities are not dead investments

Commodities have pulled back, but I would remind you that in all bull markets there are periods of correction.

In 1987 – during the great bull market in stocks – stocks went down 40 to 80 per cent around the world; again in 1989, 1990, 1994, etc. Every time people said the bull market’s over, but it wasn't. I think that’s what’s happening with commodities now.

We are all floating around on a sea of artificial liquidity right now. This is not going to last.

People in the West have enourmous debts

Eventually, the whole world is going to collapse. We in the West have staggering debts. The United States is the largest debtor nation in the history of the world, this is going to end badly.

China will be affected by the Western world

Jim Rogers on Chinese economy and if it will be affected by what happens in the West.

America is the largest economy in the world, Europe as a whole is an even bigger economy, Japan is big. When you put America, Europe and Japan together ofcourse if they have problems China will have problems. 

China is 1/10th (one-tenth) the size of those economies. They are going to be affected by whats happening in the Western world.

Likely that Fed will self destruct

In America we've had 3 central banks in our history. The first two disappeared. 

This one is going to disappear as well. They keep making mistakes, leveraging balance sheets, taking on huge amounts of debt. 

This one is going to self destruct, unless politicians say 'this is a mistake lets get rid of it' However, its more likely they [Fed] will self destruct.