BRICS Bank: SPIEF 2015 Panel (ft. Jim Rogers)

RT and SPIEF have jointly held a panel discussion titled ‘THE NEW DEVELOPMENT BANK: A STRONGER ROLE FOR BRICS IN THE GLOBAL FINANCIAL ARCHITECTURE’.

The BRICS economies have established a USD 100 billion development bank to be based in Shanghai. What does this new institution mean for global economic management? What are some of the key areas of focus over the medium term?

RT presenter Peter Lavelle was joined by a set of very distinguished guests - representatives of banks, ministries, think tanks: Pedro Alba, Amar Bhattacharya, Vladimir Dmitriev, Kundapur Vaman Kamath, Philippe Le Houerou, Sergey Storchak, and Shaolin Yang. Front-row guests: Ben Aris, Yaroslav Lissovolik, and Jim Rogers.

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Russia woes, Grexit? Just buying opportunities

Russia's economic problems and Greece's possible exit from the euro zone are just more buying opportunities, says legendary investor Jim Rogers.

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Greece will collapse this week and people will be terrified

Hundreds gathered in Paris to show their solidarity with Greece, supporting Athens' resilience in fighting the harsh bailout conditions now being demanded. The protesters were mainly from France's left-wing parties.The prime minister is calling for Greece to be respected, to make sure it stays in the eurozone. For more RT is joined by Jim Rogers, Financial commentator and co-founder of the Quantum Fund.

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Jim Rogers: Turmoil Is Coming

I suspect in the next year or two we will see some kind of major, major problems in the world financial markets.

I would suspect when we have this correction, it's going to cause central banks to panic. There's going to come a time when there is not much the central banks can do when they have lost all credibility. When governments have lost all credibility. They will print and spend and borrow, but there comes a time when people are just going to say We don’t want to play this game anymore. And at that point, the world has serious, serious problems because there's nothing to rescue us.

I suspect the next economic/financial collapse will be the one they can't deal with. But, if somehow they are miracle workers, be very, very careful. I would be worried about 2022 – 2023 then. The game will definitely be up if it's not up this time around.


My US Dollar holding is my largest position. Not because I have any confidence in the US Dollar; it's a terribly, terribly flawed currency. We are the largest debtor nation in the world’s history. And the debt is going higher and higher and higher. But there is going to be more turmoil coming. And during periods of turmoil people flee to a safe haven. The US Dollar is not a safe haven, but many people think it is, and they don’t know what else to do. So they will go to the US Dollar. They are not going to go to the yen. They are not going to go to the Euro.

We may even see the US dollar, for a variety of reasons, turn into a bubble. That of course is not good for gold. Gold may drop a lot, at which point I would have to sell my US Dollars and hopefully be smart enough to buy gold.

- Source, Peak Prosperity