JIM ROGERS BLOG: 05/22/13

Jim Rogers Still Likes Silver and Gold

Silver prices have slumped to their lowest level since September 2010 and Gold prices are down 18% YTD leading many market observers to declare that the super-rally in commodities is finished. Jim Rogers, the investor and Chairman of Rogers Holdings, …

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).

Abenomics Not Working in Japan

“[Abenomics has made the stock market go up quite a lot, it's been dramatic, but it's made the currency collapse,” legendary investor Jim Rogers, says in the attached video. “The [Yen, which is one of the major currencies of the world, has … Yahoo! Finance: Breakout Steep Slide in Japan's Yen is 'Very, Very Dangerous,' Says Jim …

We Are Bailing Out Incompetence

"Japan faced problems such as we’re facing now, and they refused to let people go bankrupt, they propped up the banks, they propped up a lot of companies, and they came to be known as the zombie banks and zombie companies, and as you know the Japanese talk about the 1990s as the lost decade. But now you’re talking about two lost decades. Their stock market is down 75% from where it was 23 years ago. That is not a typo, it’s down 75%. We’re going the same way. We refuse to let people go bankrupt, prop up everybody in sight, and the problem with that is you’re rewarding incompetence, you’re bailing out incompetence, rather than allowing new people, new energy, new capital, and new competition. It’s called the green shoots, from Joseph Schumpeter. One of the great beauties of capitalism is creative destruction, which allows the green shoots of new energy, and new capital, and new ideas to develop. They’re not allowing that in the United States these days, just as Japan refused to allow it for the last 23 years." - Source, Investors Guide:

Ben Bernanke will not seek new term

It seems that Mr. Bernanke may be leaving in a few months. The Federal Reserve is pumping up the economy and financial markets with its massive easing tactics. I guess he[Ben Bernanke] wants to get out before he has to deal with the hangover or the aftermath

When would Jim Rogers buy more Gold ?

$1300, I would probably buy some gold, $1200 I would buy a little bit more. It depends on whats going on in the world. Its been 12 years. Its got to have a nice good correction to have a correction to clean the bulls and true believers.

Jim Rogers on Gold correction

Whenever things go down, people look for reasons. The main reason is gold is up 12 years in a row. The only unusual thing about gold market is how strong it has been without a correction. If it goes down I hope I'm smart enough to buy more.

Gold Needs A Correction To Find A New Base, A New Bottom

Jim Rogers : "So now, it's having a long overdue and much needed correction that could last, I don’t know, several days, weeks, months or more. But it's good for the gold market because gold needs to make a correction, find a new base, a new bottom, and then the bull market can continue." - in Money News

Wednesday, May 22, 2013