January 26, 2008

"Ben Bernanke is a fool... who doesn't understand economics". You might want to listen to Jim Rogers. And get out of US dollars NOW!



I think most of us would agree by now that Ben Bernanke is a traitor and a fool.

Well, there's one way to put your money where your mouth is.

GET OUT OF US DOLLARS.

Unfortunately most of you earn and spend US dollars too. You could ask your employer to start paying you in Euros or gold, but you'll just get a big laugh I'd imagine.

So then a few of you might start asking yourself - "do I need to live in the United States anymore? Do I need to work for an employer who insists on paying me in US dollars?"

And THAT will be an interesting moment in your life.

30 comments:

Anonymous said...

It's nice to see more and more people coming to the realization that the reason OPEC isn't boosting output is not that they don't want to but because they can't, the oil isn't there, the fabled gigantic OPEC oil reserves are a myth.

Unfortunately Jim's hopes for alternatives such as wind and solar are rather to optimistic.

Red, White and Blue symbol of Greed and Corruption said...

I am on the way to Europe to take a hard look around in two weeks.

That supposes that Bush-Cheney-Bernanke haven't made the US dollar worthless (not Worth LESS like they have in the last 60 days) by then. Ishould be able to get a cup of coffee in Amsterdam for about $65.00 USD...

Just about time to go... I will not fund this sh*thole and the dumb lazy asses that live here any more.

Bye Bye Red, Whiite and Blue. I hear that the Republicans want to change the flag over to the Nazi swastika and the Dems want the bar and sikcle to make a comeback...

keith said...

Fox Defender:

They sit on the same panel on Fox

And one word: Nepotism

There's 1.3 million realtors out there, and this freak represents them on Fox. Awesome. I'd like to thank Fox for bringing on one of the worst, just to kill off the profession even quicker.

I'm sure when Mitchell interviews Greenspan on TV they'd disclose that they're boning each other

(sorry hope nobody was eating breakfast)

Stuck in So Pa said...

Anonymous said...
It's nice to see more and more people coming to the realization that the reason OPEC isn't boosting output is not that they don't want to but because they can't, the oil isn't there, the fabled gigantic OPEC oil reserves are a myth.

Unfortunately Jim's hopes for alternatives such as wind and solar are rather to optimistic.
============================ True, currently there is no equal alternative for oil/gasoline in terms of production costs, amount of energy required to produce energy, stable dependency of power, etc. Knowing the world is running out of oil, however, I can't help but wonder how much farther down the road we would be if that 2.5 trillion to finance operation "oil grab"
had been used for alternative energy research and development instead of maintaining the status quo?

Anonymous said...

Fox Business Network actually brings on Wayne Rogers (former actor on the show M*A*S*H) much more often than they do Jim Rogers.

CalisDead said...

Ben Bernanke knows exactly what he is doing as does his puppet masters. All is going to plan and just on time. Ben Bernanke is the Staypuff Marshmallow man of the Ghost Busters.

"Chose your destroyer" The US choose credit.

Anonymous said...

WEll, according to all the dumbshit Euro haters on this blog, isnt it supposed to be worse in Europe than the US.
Bunch of stupid A-holes. Europe DOESN'T have anywhere near the financial chaos currently unwinding in the US. Watch the damn video and learn something.

You morons(the US) are in deep financial trouble.
Rogers is talking about the US DOLLAR, not the damn EURO! Its the dollar that is collapsing because of the monkeys you have running the Fed and the banks. They are trying to save Wall street not Main street. Which means the working man is getting screwed (you're working more and more for a currency that is being valued at LESS and LESS!) ITS simple economics.

Just look at the stock market crash we had this past week. It wasn't cause of Asian or European financial worries or mismanagement. It was because the WORLD was worried about the US financial house of cards collapsing (which it is) because the word is out that our credit crisis is imploding as we speak!

So stop harping about the damn Muslims in Europe.

The problems in the US are Severe, Systemic and Terminal. You're whole arrogant way of life (driving your damn Hummers, remodeling your damn kitchen, buying the ridiculous plasma tv,) this was all based on complicit fraud!

You would never have been able to have spent any money for that CRAP if ASIA hadn't LENT the money to you in the first place. But now that the rent money is due, its clearly coming to light that you dont have the money or the capital to back up what you spent!

There you have it. A combination of Greed and stupidity (the ultimate clueless American)

And what does your government want to do in response. Do they say they're going to try to save the working man, save the dollar, and keep jobs from being exported.

NO! GET A CLUE! Your government DOESN'T give a damn about YOU!

Instead, they want to BAIL OUT the banks and high priced home owners by getting Fannie and Freddie to insure high priced home loans (which means once again you foot the bill for the wealthy, the greedy and the corrupt)! THEY want to bail out the criminals who started this to begin with! How does that make you feel!!!!?

Are you guys sick or retarded? Or is it just a lot of both?

Anonymous said...

GOLD TO DA MOON ALICE!!!!!!!!

Anonymous said...

Actually, its the opposite. Commodities are going to collapse. Just like during the S&L crisis. When the economy slows then need for commodities is less not more. Just like shrinking revenue streams drive stock prices down.

The government does not "print" money. The government issues debt and receives money in return. They have issued a lot of debt. This debt can only be paid in dollars. Given the imbalances in the economy, most people have few dollars to pay the debt!

Problem is when the debt goes bad. Then nobody buys the debt. That is, there is less "new" money around. So, they have to offer higher rates and even more debt. Though, this can be warped when people sell stocks and flee to safe treasuries and the rate goes down. Ironically, the rates went UP after the 75 fed rate "target" cut. Fed does not control the long rate. They could be selling the stock market to lower the rates.

As far as oil, it could be that the number of cars has increased dramatically. And for gold it might just be the fact that physical gold is not in a debt ridden bank!

Stocks lower = homes lower = oil lower = gold lower. All are assets in a credit bubble. People must sell these to pay their debt obligations. Or if debt goes bye bye then that money just disappears.

Been long gold for a while. I'm in the deflationist camp now that the economy is slowing and we are in a bear market.

Anonymous said...

"Bunch of stupid A-holes. Europe DOESN'T have anywhere near the financial chaos currently unwinding in the US."

Who bought a lot of bad debt? I'm no fan of Goldman Sachs either...

WIINGS said...

Anonymous said:

WEll, according to all the dumbshit Euro haters on this blog, isnt it supposed to be worse in Europe than the US.

Bunch of stupid A-holes. Europe DOESN'T have anywhere near the financial chaos currently unwinding in the US.
_____

Looky here you piece of Eurotrash: If it wasn't for the US spending zillions $$$ to defend your lazy, sorry, asses from communism, you'd be reciting poems from Mao's Litte Red Book.

As it stands, you're f***ed anyway, seeing as you don't have the huevos to stand up to invading Muslim hordes who are now about to make you bow before Mecca and Sharia law.

Oh, yeah. And learn to shave your armpits while you're paying $6 a gallon for gas, you effete little tea & crumpet head.

Anonymous said...

That guys is a HP Hero! God bless him for speaking out and telling the truth!! He should be Ron Paul's Tres Sec or Fed Chair.

Notice Maria did not ask him about Gold????

devestment said...

I figure I am going to loose, the question is “how much”.

I know real estate is in for a long fall, stocks are dangerous and still way too high and foreign currencies are another mans game.

With all the negative dollar press in an election year the cat is out of the bag.

My wager is that this is the last year for the falling dollar and we will soon see a shift in policy.

I have never gone wrong buying a depressed value asset.

Today that asset is the dollar; I’ll take all I can get.

Anonymous said...

Re Anon 2:30:

Don't even compare the US to Europe. They are a bunch of outright socialists. At least it hasn't gottn that far - yet. Europe hates the US but fact is we're supproting their a**. We're the biggest contributor to the UN (ehich should be abolished) and they still complain. Why do you think they have socialized health care and all those other entitlements.....becuase we pay for their defense which frees up billions for them.

I posted a comment about Muslims here earlier and it never got printed. I'm not racist just stating the facts. Eupore's non-Muslim population is in decline while the Muslims immigrate and procreate like crazy. The idiot leaders of Europe are slowly caving to their requests and allowing Sharia law over gov't law.

Want to leave the USA - where you gonna go???

Budvar said...

"When the economy slows then need for commodities is less not more. Just like shrinking revenue streams drive stock prices down."


People will alway need to eat, thats why he said he was buy "Agricultural" commodities.

Anonymous said...

"Don't even compare the US to Europe. They are a bunch of outright socialists."

That is funny coming from someone in the US.

No European socialist have ever increased the amount of red tape or the size and cost of government, the way Bush II has managed to do.

Anonymous said...

Bernanke is not a fool, but he is a tool.

Anonymous said...

"When the economy slows then need for commodities is less not more. "

Sure thing genius. People stop eating, driving to work, and heating their homes.

"The government does not "print" money. The government issues debt and receives money in return."

Um, under the current Federal Reserve system, debt is money.

Anonymous said...

This is all nonsense.

Of course Bernanke knows what the hell he is doing.

Guys, the country is freaking BROKE for GOD's sake. How can he maintain a strong currency. That is economics 101, 101, 101. This Jim Rogers guy wants a strong dollar, but that doesnt come out of the blue. First you must have a strong and REAL economy and than you have a strong currency. Is he freaking thinking?

I just dont buy this. Bernanke might be saying he wants a strong currency, but he damn well knows he cant have it. There's nothing to support a strong currency. But the Euro is not in any better shape either. I see the Euro taking a beating soon enough. We'll see.

Another thing is that Bernanke has the GOVERNMENT constraint. The government tells him what to do. He doesnt do what he wants.

Bernanke could be the smartest economist in the world but it doesnt help if his government is fulishly spending money left and right. Which equals weak dollar. You cannot have it both ways.

Lets get rid of this IDIOTIC Republican government and than we might have a chance.

Keith, I like how you spin this issue around to include the Democrats, even though the man you call an IMPEACHED LIAR, left a surplus. AHHHHHHHHHH, beautiful.

Well you know what, I am not a saint, and neither is anyone in Washington (they have whore houses all over the damn place and you know it), and neither are you. I damn well want an IMPEACHED LIAR like Clinton again.

I never understood what being a president had to do with being unfaithfull to your wife. Please tell me how the F*CK they are related. I didnt know that being faithfull was a requirement to become president.


Danny

Anonymous said...

True, currently there is no equal alternative for oil/gasoline in terms of production costs, amount of energy required to produce energy, stable dependency of power, etc.

Good, the planet was getting to crowded anyway. Let the die-off start. I feel sorry for people who has children, though.

Anonymous said...

Europe DOESN'T have anywhere near the financial chaos currently unwinding in the US.

True, but in contrast you have a population of rude idiots and posers, especially the disgusting French a$$holes. Funny, the French lives in a dump the size of a TV box, take showers every 3 days, always broke and asking the women to pick up the tab, but they pose like intellectual snobs.

That's why the educational system in France is going down to hell and nobody works. The Frenchies are too good to work, you know, so they just pose on cafes or try to hook up with South American or American women to get out of that sh!thole called France.

Anonymous said...

GOLD TO DA MOON ALICE!!!!!!!!

Andrew Hac said...

Dubya Shrub + Penis Shooter = "Little Boy" + "Fat Man"

This nation and its Americano citizen is as toasted as a snapper turtle skewered on a stick from head to ass all sizzling, juices dripping, fat popping over a bed of white hot charcoal grill.

Americano = Grilled Snapper Turtle

Heeeee... Haaaaa... Arrrrr...

So, tell me, does the average Americano take it enough in the butt yet by the forceful penetration of "Little Boy" + "Fat Man", or do you want more "Enter The Dragon" ?

Americano = Being Entered By The Dragon up the Kazook

Heeeee... Haaaaa... Arrrrr...

investorinpa said...

Jim Rogers is so right, so often, that it makes you seriously think about your investment strategery. He recently said you're kids are better off becoming farmers than getting an MBA due to farmers having a huge long term commodity boom, numerous subsidies, guaranteed customer base, and pent up worldwide demand. He's always interesting to read.

Anonymous said...

"Sure thing genius. People stop eating, driving to work, and heating their homes."

But the tractor and just about everything else at the construction site is shutdown. No new nails needed. No new copper pipes or cement needed. In fact, we don't even need to heat those empty homes either.

When gold was under $500 people where still living too.

Just like the 87 crash. Yep, all you long commodities investors are going to go down in flames. Doesn't take a genius to recognize a slowing economy and a deflating credit bubble.

a new gold bug said...

Stocks lower = homes lower = oil lower = gold lower. All are assets in a credit bubble. People must sell these to pay their debt obligations. Or if debt goes bye bye then that money just disappears.
================

As long as BB is lowering rates, the dollar will sink further, thus oil will not go lower. It is not about oil or your car or whatever. It is really about the lifestyle that the people that stand on top of the oil want for themselves! Oil makes rich arabs richer. If their dollars get them less goodies, they will have to compensate by reducing the amount of oil they pump thus rising the cost of the oil.

Gold might have gone up a good portion on speculation, but not bec of credit. Gold as an investment is so uncommon still that I doubt people are buying GAE's on their Capital One CC's.

While the housing deflates from the credit bubble, and the stock market deflates from the Baby Boomers cutting and running, the people buying gold are doing it with cash or from the sales of other holdings to stay strong.

The only way gold prices drop are two fold: 1. central banks fire sale their reserves to cover their falling economies (see GBR and Spain) and 2. The US Fed makes an abroupt 180* and starts jacking the fed rate to 2x digits.

Since BB and the Feds are hellbent on following Japan to the Land of Z.I.R.P. and the only man to stop him (No, it's not Obama, Keith) is Ron Paul. And we all know Keith will be in the Oval Office before RP.

So #1 is the biggest concern. However, it is not life treatening to the gold investor. A fire sale would be a temporary fix to the the problem. Thus a good time to buy!

PONCH said...

Hey...could someone tell me what Jim Rodger's third pick was at the very end? Swiss Franc, Yen, and what was the first one? I couldn't make it out, and I'm not familar with that. Thanks...!

Anonymous said...

I left the U.S. five years ago and moved to Australia. I'm an Australian citizen now.

I could see all the warning signs about the U.S. economy even back then. I had the chance to leave and I took it without hesitation, and I've never regretted it.

Anonymous said...

Sorry kids, but I lived in Britain for five years before returning to the United States in early 2007.

Britain's housing bubble is just as big as the American one -- in fact, in places like London, it's even bigger. That means that the pound and Euro will collapse just like the dollar has when their central banks run the presses to bail out their banks in a year or so when the panic is as bad there as it is here now.

The other thing is that "I am going to go get a job abroad" is much easier *said* than done. First, you have immigration regimes designed to make it almost impossible for you to get hired. Then, once you surmount those, you discover you're an American in a foreign country.

I was one of the best people in Europe at what I did (and was often told so), but finding a job that paid me what I was worth was well-nigh impossible. Employers hated to do "the visa thing" and worst of all, people regularly discriminated against me based on my nationality. I constantly heard stuff like "Americans cannot possibly understand the European market" and "why should I hire an American to understand how Europe works?"

Mix in all the attitudes that are critical of people who aren't "European" and you'll be earning far less than you get paid here... that is, if you manage to get beyond the protectionist visa crap. Mix in the higher taxes, and the fact that sterling and euros are going to take a crap versus the dollar, and you're much better off staying here at home and working to unravel the mess here.

BondsOfSteel said...

Out of Dollars and in to what? Loonies? Pounds? Euros? Yaun(sp)? Yen? We're likly to take a lot of the world economys down with us. Only the depressed Yen still looks like it's not overpriced.

Iron? Copper? The demand for these will collapse in a recession. Oil? While it's demand is inelastic, it too can go down.

Gold? It's probably the next bubble.

Land?

I'm buying short term financial bonds. BAC 5yr yeilds are ~6%. WM 10%. Yep... they're risky... but at least now you get paid for the risk.