November 25, 2007

Jim Rogers, who's called Ben Bernanke a "madman", on getting out of the US dollar ASAP and getting into commodities, yen and more



Nice to see Rogers call out Bernanke as a bald-faced liar when he testified in front of Congress (under oath) that Americans won't be negatively impacted by the dollar's destruction.

Ron Paul sits on that committee. He should have immediately called for Contempt of Congress hearings against Bernanke after that statement.

Follow the experts folks. And China. And OPEC. The dollar is doomed. And Bernanke will put the last bullet in the body in just a few days. Invest wisely.

37 comments:

Princess Mononoke said...

I love this man. I watched Jim Rogers being interviewed by Maria on CNBC last week. Yes, he is very direct and honest about the current state of affairs. That is what I respect about him most.

We need more people like him in the world!

Jambu said...

Yep I agree

Paul E. Math said...

Bernanke is a 'bald-faced liar'?? Come on now, Keith, what are you talking about? I really have to disagree with you on this one, buddy. You really need to give your head a shake. Bernanke, as everyone knows, has a beard. He's a bearded liar - get your facts straight, man. Bald-headed liar, sure. But bald-faced? - he's been telling his lies through a pretty decent beard ever since undergrad.

Shakster said...

Jim Rogers has to restrain himself in most of those interviews.Usually he's face to face with some ignernt shill.Love that guy.

dopes said...

HI, DOPES HERE. LONG TIME NO SEE AMIGOS!! (EVER NOTICE HOW CLOSE THE WORDS AMIGOS AND ENEMIGOS (ENEMIES) ARE?

KEITH PLEASE, COULD YOU CUT STRAIGHT TO THE PART WHERE HE CALLS HIM A MADMAN. I'VE GOT THE PATIENCE OF A GNAT.

Anonymous said...

Invest in China? Thats the ultimate bubble market!

Notice they never say anything bad about China.

Anonymous said...

If the Fed cuts, look for gold to break $1,000.

Then look for the Kudlow-types to apply inflation-adjusted gold price to say it's still very low and not a concern. That's whebn anyone with a brain should counter and say "Well, it's been a quadruple over the past few years due to the dollar's devaluation." Then be prepared to never be invited back on the Kudlow show again...

k.w. - southern ca. said...

Jim Rodgers and George Sorros have both been saying just how bad things are going to get with not just housing, but the entire US financial markets.

I read postings here of people speaking so proudly about there personnel wealth, when they should be concerned of the dynamics surrounding them, which will start eating away at their wealth as well, as the price of goods and services continues climbing.

Of course, there will always be the few percentage who are so wealthy that they really won't feel the pinch, but their wealth will in no way prevent the economy from sinking further.

Ben Bernanke is a fool, but a wealthy well protected fool who won't be feeling the pinch from his horrible mismanagement of the US currency value.

It's the average US citizen, who has been putting most of their hard earned tax dollars back into this system, who will be suffering the most for years to come if we continue on this reckless course.

Anonymous said...

I have been negative on the dollar for a long long time. I'm starting to think the dollar may actually strengthen as the US drags other economies down. Europe, Japan, China , etc are not going to escape the mess that Greenspan created.

Tom

Anonymous said...

Youtube is currently unavailable!

Anonymous said...

rogers is not a yenta..........that is why he knows what is going on and is willing to say it. he also calls it as he sees it....somehow he got himself into tall cotton with the tribe and has set in the holy of holies but he is not a part of the tribe. therefore, he knows he must watch his back, real good.....

Anonymous said...

Paul E. Math said...

Bernanke is a 'bald-faced liar'?? Come on now, Keith, what are you talking about? I really have to disagree with you on this one, buddy. You really need to give your head a shake. Bernanke, as everyone knows, has a beard. He's a bearded liar - get your facts straight, man. Bald-headed liar, sure. But bald-faced? - he's been telling his lies through a pretty decent beard ever since undergrad.

November 25, 2007 2:50 PM<<

ok, how about bald headed , bearded face liar???

Anonymous said...

perhaps there will be a rebellion and/or revolution here in the states one day. rogers and many like him have felt that it is necessary to flee the states for whatever reason. so the damage will be great and many shall die for this cause. it is up to the american people about whether or not such a venture would be ulimately successful and i think it would be entirely within the realm of possibility. therefore men such as rogers who have fled this country, will one day wish to return. shall those who have given their all, welcome him back with open arms? i think not.

Anonymous said...

i can't believe that old fart is still having children? i guess he didn't get the memo?

Anonymous said...

dopes said...

HI, DOPES HERE. LONG TIME NO SEE AMIGOS!! (EVER NOTICE HOW CLOSE THE WORDS AMIGOS AND ENEMIGOS (ENEMIES) ARE?

KEITH PLEASE, COULD YOU CUT STRAIGHT TO THE PART WHERE HE CALLS HIM A MADMAN. I'VE GOT THE PATIENCE OF A GNAT.

November 25, 2007 3:14 PM<<<<

you have a lot of nerve to show up around here dopes...

Anonymous said...

As a contrarian I know this is now the dollar's bottom. Keith you fancy yourself a contrarian as well, yet you are blindly following the sheep on this one.

Remember when the peak of housing was? It was when everyone thought it was a can't miss way of making money. Remember when the .com bubble peaked? When everyone thought it was a can't miss money maker.

This is the situation with the dollar today. Everyone is convinced the dollar will fall more and everyone and their brother are betting against the dollar. This is the time when smart money goes against the grain.

Fall 2007 will be remembered as the time when the Euro and oil peaked When oil is back to $65 and the Euro is back to $1.20 and gold is at $600 in 2009 all of you will be scratching your heads and wondering hmmm how the hell did I lose so much money betting on a sure thing.

Anonymous said...

Anonymous said...

As a contrarian I know this is now the dollar's bottom. Keith you fancy yourself a contrarian as well, yet you are blindly following the sheep on this one.

Remember when the peak of housing was? It was when everyone thought it was a can't miss way of making money. Remember when the .com bubble peaked? When everyone thought it was a can't miss money maker.

This is the situation with the dollar today. Everyone is convinced the dollar will fall more and everyone and their brother are betting against the dollar. This is the time when smart money goes against the grain.

Fall 2007 will be remembered as the time when the Euro and oil peaked When oil is back to $65 and the Euro is back to $1.20 and gold is at $600 in 2009 all of you will be scratching your heads and wondering hmmm how the hell did I lose so much money betting on a sure thing.

November 25, 2007 8:09 PM<<<


perhaps, but only if they allow it to be so. what happens if you are wrong? what then?

Andrew from Russia said...

To Anon @ 8:09 PM: I could second your opinion, having seen the rush to dollar-denominated loans in 5-digit range - these are considered a "smart" (based on a 5-year history of dollar decline) way to fund various useless purchases. Banks were, of course, able to outsmart their borrowers by driving rates up above 10% but failed to dissuade them - it's now the "the dollar always falls" mood.

So, unless the burden of bailing out every US borrower falls directly onto the Bureau of Engraving and Printing, there's some thrill in putting those Franklins back in one's currency basket after 5 years of "diversifying out".

serindippity said...

Jim Rodgers and George Sorros have both been saying just how bad things are going to get with not just housing, but the entire US financial markets.

Right. When Rogers says it, it's "Amen".

When Soros says it, it's "he's just a fucking liberal America-hating commie Jew!"

Uh?

Looks like Soros (and HP and many others) was right about everything.

Bush does suck, Iraq still is a disaster, and we're bleeding our prosperity and power.

Now think why did he particularly get such bile spewed at him?

PS: He has been a US citizen for decades.

Anonymous said...


perhaps there will be a rebellion and/or revolution here in the states one day. rogers and many like him have felt that it is necessary to flee the states for whatever reason. so the damage will be great and many shall die for this cause.


The rebellion won't be between the rich and the poor. It will be between the left and the right. It will be between the races and/or religions. The rich are too smart to get involved in the dirty business. Got guns and ammo?

Anonymous said...

Remember when the peak of housing was? It was when everyone thought it was a can't miss way of making money.

The problem with your theory is that there are absolutely no fundamentals to support your position. Your contrarian opinions alone do not count. We need some facts, my boy.

With the housing bubble, it was proven that prices were detached form rental income and personal income. It was proven that housing prices were only supported by cashback fraud.

Now give us some solid reasons why oils prices will crash and the USD will surge. If I wanted to invest based on some schmuck's hunch, I would go to Vegas and ask the ditzy cocktail waitress whether I should bet on red or black.

whiplash said...

Rogers said he expects a rally in the USD and will use it as an opportunity to unload more of his dollar-denominated holdings.

So where will the USD rally? At 70 on the index, 60? What is the cutoff for the yokels at the Fed, the point where other central banks tell them no mas?

Anonymous said...

speaking of rogers, he is bullish on China long-term ("20-30 yrs out the Yuan will be the reserve currency"), but that doesn't mean their market isn't in a bubble now. I want to short U.S. financials and China via ETFs....shud i divvy it up 50 percent for each?
tks for any reasoned opinions,
Macaca

Anonymous said...

Now give us some solid reasons why oils prices will crash and the USD will surge. If I wanted to invest based on some schmuck's hunch, I would go to Vegas and ask the ditzy cocktail waitress whether I should bet on red or black.

November 25, 2007 10:56 PM

==========

You sound like a Realtor circa July 2005. You go ahead and buy yen, buy euros. You will quickly find out - as did the FBs who bought in 2005 - that following the herd is not a good strategy.

It is amazing how the very same people who saw the housing bubble can't see the bubbles in metals and euros and China forming right in front of their face.

Oh well, your money, do as you will.

Anonymous said...

Rogers said he expects a rally in the USD and will use it as an opportunity to unload more of his dollar-denominated holdings.<<<

i believe he is right, but the general direction is down. it is a bear market on the dollar over time. they have to make it look good for the sheep...it will ralley and then it will go down and again and again...perhaps they will make the bottom at about 50 or 60 or so.......who knows........

Anonymous said...

Small town broker says,

Deflation

You can't push a string. The fed cutting the rate cannot give the money velocity.

ALL asset classes will be subject to liquidation in order to satisfy debt in a stagnant economy.

Since the debt is denomonated in $US folks is gonna need some.

How's that go again? Cash is king?

Anonymous said...

I have followed rogers for years. He was an early adopter to the commodity boom angle. Even a broken clock is right twice a day. I have invested in the commodity industry for years, made decent returns and have plenty of years of single digit returns, so there is no one silver bullit.

Ignore all the pundits. Simply buy into companies that make or provide basic goods and services. Less BS and more real value behind these outfits. One rule I use to scale any invetment: is it food, clothing shelter, energy or otherwise a key element that we all need to survive.

Anonymous said...

for you China boosters...take a look at a chart of Chinese stocks over the past 3 years and compare that chart to a chart of the nasdaq 1998 to 2000. It is identical.

That should tell you something. Unless you believe IT IS DIFFERENT THIS TIME. In which case you are an idiot.

Anonymous said...

i have noticed several people over the past week talk about how the dollar is weak.

however, there is no stopping point right now because the currency is way overvalued, not to mention bernanke will continue to cut rates to save investment banks, he'll cut them to save homeowners and their ARMs - we've only just begun the reset period which will stay nasty for another 6-9 months, and he will cut to stimulate a dogshit economy.

stay the course people, you'll know when to cash out of your gold..when the mailman tells you how much money he made on commodities and precious metals.

Anonymous said...

You sound like a Realtor circa July 2005. You go ahead and buy yen, buy euros

Once again, the schmuck cocktail waitress says bet on red

Anonymous said...

There will likely be a dead cat bounce in the USD. If you're a daytrader you might want to take a chance. Over the long term, only an idiotic buffoon, or a realtor, would stay in the USD.

Princess Mononoke said...

Anonymous said...
>>Ignore all the pundits. Simply buy into companies that make or provide basic goods and services. Less BS and more real value behind these outfits. One rule I use to scale any invetment: is it food, clothing shelter, energy or otherwise a key element that we all need to survive.
November 26, 2007 2:23 AM

I couldn't agree with you more! I use the same basic need investment theory and YES cash is king.

Anonymous said...

Rather than watch the dollar fail why not replace your elected officials with leaders that defend our borders, constitution, and economy of the US rather than sell out like cheap whores to the banksters and corporations addicted to cheap wage slavers?

Anonymous said...

ME BUY GOLD

ME SMART

ME VOTE FOR RON PAUL TOO

ME VERY SMART

Princess Mononoke said...

Anonymous said...
>>Rather than watch the dollar fail why not replace your elected officials with leaders that defend our borders, constitution, and economy of the US rather than sell out like cheap whores to the banksters and corporations addicted to cheap wage slavers?
November 26, 2007 2:37 PM

With all due respect, I would want nothing more than to have a leader as you've described. You are preaching to the choir! There are organizations right now working on impeaching GWB and Cheney.

We are all simply trying to preserve what little wealth we have right now and the coming years.

Anonymous said...


There are organizations right now working on impeaching GWB and Cheney.


Wasn't it Clinton who signed NAFTA, GATT, WTO and gave China most favored nation trade status? You idiots make me laugh

Princess Mononoke said...

Anonymous said...
>>You idiots make me laugh
November 27, 2007 1:33 AM

I'm sorry but I'm not getting you? Are you indicating in ANY way that GWB and Cheney are doing a FANTASTIC job as they would like us to believe???

No! I'm not buying this status quo shit anymore!