Thursday, October 8, 2020

Investment legend Jim Rogers on China, Technology, and Global Finance

Mr. Jim Rogers is an investment legend and the co-founder of the phenomenally successful Quantum hedge fund. Author of several best-sellers, designer of the eponymous commodity index, and guest professor at Columbia Business School, Mr. Rogers is known for his original analysis and his candor in knowledge sharing. 

Described as Indiana Jones of finance by Time magazine, he spent many years traveling the world, developed financial acumen pertaining to frontier markets. 

Consistently bullish on China, Mr. Rogers spoke with us amidst the global coronavirus pandemic about the on-going trade war and tech war between the US and China, the stimulus, and the future of global trade and finance. 

With Huawei at the center of the global technology competition, Mr. Rogers shed wisdom, drawn from history, on the shifts of global technological leadership over the modern Industrial Era. 

He believes that the best approach is to welcome global technological competition and for countries to continue to open up, including America and China. 

Drawing lessons from the abysmal 1930s, he warned against the rise of isolationism and protectionism, spoke out against the relentless money printing by central banks, shared his optimism about China, discarded the idea that TikTok constitutes a security or privacy threat.

- Source, Hey China!

Tuesday, September 29, 2020

Jim Rogers Shares 3 Tips to Survive Coming Economic Meltdown; Says Gold, Silver Will See Mania

Famed investor Jim Rogers, who co-founded the Quantum Fund with George Soros speaks with Daniela Cambone about the coming economic meltdown and how to prepare. 

"Learn about gold and silver because they will go into a period of mania," the author of Hot Commodities said. 

"I'm always shocked to see how little people know about the world, money and investing," 

Rogers said speaking from his home in Singapore. On the topic of the markets ahead of the U.S. election, Rogers said politicians will do anything now to keep it afloat, "you should be more worried about 2021."

Monday, September 14, 2020

Debt is Going Through the Roof and We Will Pay the Price

In 2008, the world had a big problem because of too much debt. Since then, the debt has skyrocketed everywhere, even in India and China. Ten years ago China had virtually no debt. Now they have got a lot of debt. Everywhere does. The next time we have a problem and we are having it now, it is going to be the worst in my lifetime. It is a simple statement. The debt is much, much, much higher now. It has to be worse. We have these problems every few years. The next is going to be horrible.

The United States is spending trillions with the T and printing trillions of dollars; what do you mean nothing happened? The Bank of Japan, the guy goes to work, turns on the printing presses, print as fast as he can. All over the world, all these central banks and governments are printing and spending and borrowing as much as they can. Of course, the market is going up...

- Source, Economic Times

Monday, August 31, 2020

Jim Rogers Gives the Best Investing Advice You’ll Hear, Talks the Next Big Market Crash

Jim Rogers, chairman of Rogers Holdings and co-founder of the legendary Quantum Fund, said that the next financial crash could be even worse than what we saw this year. 

Rogers draws on his decades-long investing experience, from his early days on Wall St. to his successes with the Quantum Fund, to give candid advice to any investor looking to win in the long haul.

- Source, Kitco News

Sunday, August 16, 2020

Jim Rogers: People Have No Idea How Bad the Coming Crisis is Going to Be

Jim Rogers is one of the world's largest investors who like to talk about cryptocurrencies, bitcoin, real estate, and ways to make money. In this motivational video, Jim Rogers expresses his opinion on the world crisis, the collapse of the market, and the suffering of the world economy.

Wednesday, August 12, 2020

Jim Rogers on How Gold, Silver and the US Dollar Are Going to Fare Moving Forward

Jim Rogers, renowned investor and financial commentator, discusses current market themes amid the COVID-19 pandemic. 

Where is the US Dollar, gold, and silver headed given the expansive monetary policies aimed at combating virus-induced economic fallout? 

Will the Euro move beyond its current problems in relation to the conflict between the ECB and Germany's Constitutional Court? And could Bitcoin gain some profile on the back of the Euro's problems? 

Join us on this episode of Trading Global Markets Decoded to find out.

- Source, Daily FX

Friday, August 7, 2020

Jim Rogers: Bitcoin Needs to Remain Speculative

Since bitcoin’s initial inception in 2008, the currency has been pushed as a valid currency designed for purchasing goods and services. The asset was built to replace things like fiat and credit cards to give financial power and independence back to the people who would use it and remove themselves from the hands of the big banks that control the global financial system.

However, according to Rogers, if this ever did happen, bitcoin would be in serious trouble, as governments would work extra hard to eliminate it. He states:

"If the cryptocurrency succeeds as real money, rather than the subject of gambling as it is today, the government will make the cryptocurrency illegal and eliminate it."

One of the big problems that stems from bitcoin is that it seeks to make the financial world decentralized. This means no more banks, no more standard financial institutions; finance as we know it would completely disappear if bitcoin ever became completely mainstream. While this presents many benefits for the public, those running the banks see the currency as an enemy of their livelihoods. With bitcoin moving further up the financial ladder, these people stand to be out of job.

Right now, the asset is working primarily as a speculative asset. Those who choose to invest in it have an opportunity to see their wealth hedged against economic strife. In addition, they are adding to their portfolios and looking to potentially grow their wealth over time with the addition of a new asset.

Many companies aren’t allowing bitcoin to be used for purchasing goods and services given that it’s still very vulnerable to volatility and price swings, which scares businesses because they could lose money.

This could be something that’s working in bitcoin’s favor. The fact that many institutions still don’t view it as real money could be what ultimately keeps the coin in play. Over time, as its legitimacy is established, perhaps there will be greater use cases for the world’s number one cryptocurrency by market cap, but until then, Rogers feels bitcoin will be much safer as a low-key investment tool.

BTC as Real Money Is Dangerous

He states:

"The government likes electronic money because with electronic money, you can track when and where who spent what amount. Governments will have more control over people through electronic money. The government wants to know everything. Controllable electronic money will survive, and virtual currencies beyond the influence of the government will be erased… The government has something that those who work with virtual currencies don’t. It’s a gun."

Sunday, August 2, 2020

Jim Rogers on US Economy, Gold, USD Amidst Pandemic

Talk begins on the US economy – and Jim’s outlook remains as bleak as at the time of the previous DailyFX Jim Rogers podcast in August 2019. “I told you last time – the next time the world has a problem it’s going to be the worst in my lifetime.

“It is the worst in my lifetime and the reason I said it was because there was so much debt [that had] built up in the world. In 2008 we had a big problem because of too much debt; since then the debt everywhere has skyrocketed, even in China.”

Jim points to nearly every government in the world having started printing and spending staggering amounts of money. “America was already the largest debtor nation in the world, and along came [coronavirus] and America has added trillions and printed trillions more. This is going to be a serious burden for the world economy.”

As Jim sees it, the ten-year bull run in US stocks also made a market slump overdue in addition to an economic slump, and coronavirus was just an excuse. “There would’ve been some reason. Some places were already slowing down, and along came the bubble and now we have the excuse. We always have an excuse and here it is.”

Gold, Silver, USD and Safe Havens: How Safe?

So, with this outlook, what does Jim have to say about the viability of gold, USD, and other assets traditionally viewed as safe havens? “I stopped buying gold and silver in 2010 and I started buying again last summer. I bought more recently and I will probably continue to buy both gold and silver; more silver than gold now because silver is down much more.”

On USD: “It’s not a safe haven, but [the important thing is] people think it is. I still own a lot of US Dollars and I haven’t sold any. It’s going to get overpriced and it could conceivably turn into a bubble, depending on how bad things get in the world.”

USD being Jim’s currency of choice is explained in part by the unattractiveness, as he sees it, of the alternatives. “Right now with the Euro, many people are skeptical. British Pound? Please. I love the UK, but that’s not even a semi-sound currency any more. The Swiss Franc is being so debased, and as for the Japanese Yen? Japan has staggering debts, with a population declining for ten years.

“[So] which currency? That’s part of the problem.”

- Source, Daily FX, read more here

Tuesday, July 28, 2020

Governments Will Kill Crypto, Warns Jim Rogers

Bitcoin has made its fair share of enemies since it was created a little over 10 years ago, writes Forbes journalist Billy Bambrough.

The bitcoin price, soaring to around $20,000 per bitcoin in late 2017, thrust cryptocurrencies into the global limelight, prompting governments to clamp down on their use and companies such as Facebook to create their own.

Now, legendary investor Jim Rogers has warned bitcoin and similar “virtual currencies beyond the influence of the government” will not be allowed to survive – and said the bitcoin price is headed to zero.

“If the cryptocurrency succeeds as real money, rather than the subject of gambling as it is today, the government will make the cryptocurrency illegal and eliminate it,” Rogers told Japan’s Aera dot in comments translated by Google.

Rogers is perhaps best-known for co-founding the Quantum Fund with fellow legend George Soros and has gone on to establish himself as a television and media personality.

Bitcoin, still mostly used as an instrument of speculation, has attracted attention in recent months as the coronavirus pandemic has spread and governments have taken extreme action to support their economies.

The US has allocated almost $3 trillion for coronavirus-related economic aid and the Federal Reserve has pumped trillions of dollars into the US economy.

Renowned investors including Paul Tudor Jones, Dan Tapiero and Raoul Pal have identified bitcoin as a potential hedge against the inflation unprecedented central bank stimulus measures could bring, though bitcoin is still far from being used as “real money.” Some 11 million bitcoin, roughly 60% of the current minted supply, has sat dormant for a whole year, according to a recent research report published by Digital Asset Data—suggesting investors are “buying to hold.”

However, governments around the world, spurred on by China’s efforts to digitalize its yuan and Facebook’s plans for a bitcoin-inspired digital currency, have accelerated their efforts to take money and spending online. “The government likes electronic money,” Rogers said. “Because with electronic money, you can track when, where, who spent what amount. Governments will have more control over people through electronic money.”

“The government wants to know everything. Controllable electronic money will survive, and virtual currencies beyond the influence of the government will be erased.”

Many in the bitcoin community see cryptocurrencies as a way of resisting government overreach and some fear a proposed digital US dollar could hand more power to the state. Rogers’ comments could throw fuel on those fears. “The government has something that those who work with virtual currencies don’t have,” Rogers said. “It’s a gun.”

The bitcoin price, still highly volatile and prone to wild swings, is increasingly being watched by Wall Street as they launch bitcoin and cryptocurrency services and take on clients in the space.

- Source, Asia Times