God’s Words of Strength to His People During Financial Turmoil
Sep 12, 2012 – 5:41 – Rogers Holdings Chairman Jim Rogers on the impact on the economy and markets of Fed stimulus.
Transcript:
More than 23%.
Since its October lows.
This next international — says be careful because the rally is being artificially propped up by the Federal Reserve Jim Rogers.
Is the chairman.
Of Rogers holdings and my friend from Singapore.
Yeah children are doing very good speaking Chinese every day — waiting to see you again I will be there are again — I guarantee are at the Fed the Fed has a mandate not about pumping up the stock market Fed’s mandate.
Is making sure that the economy is strong — that unemployment is low.
In those two things it is failed miserably to turn things around so it.
How could the Fed justify.
Another round of money — when it’s passed money burning has not stimulated the economy.
get doctor Bernanke on your show and tell him the same thing he’s not here the pump up the stock market but he thinks he has.
That’s astonishing to me — it’s a written.
Jim he has two mandates one is to maintain the value of the currency failed the other is to maintain low unemployment — yes he has failed in his all the his mandate does not have to do with the stock.
Marketing oh they — people in jail for breaking.
You know on the other than those of the older and they don’t happen anymore now this is a mess this is a — humor — Larry sit.
They’re ready to spend billions more dollars of your money my money and everybody watching the shows money and — not gonna do us any good is gonna build up debt.
Cash in the system inflation this is going to be a mess before itself.
Looking at the at the various Q — which is — shorthand for printing money you by the way say they QE3 is already begun yeah.
— that they already begun to forget about the number one I think one of the behind by the way.
Garbage as far as I can sing and I probably — way — off balance sheet everybody else has but looking is an important what because looking at the balance sheets you say they have already.
Begun to print more money to buy more goods to add to their portfolios.
It’s not brain surgery get out the numbers for him one they publish and you can read — get up the balance and you’ll see that the balance of the assets are going up.
They didn’t come from the Tooth Fairy.
Somebody is in — trading guess buying things — your money and my money and printed does that why we’ve seen gold go up over the past week is.
You’re not not the only one that know that they’re printing money out there that this spinning that they don’t have.
Everything’s going up you.
What’s happening with.
Why hasn’t the dollar crash then and I don’t they just gone — down but why hasn’t actually crash — why haven’t we seen the increase inflation why we’ve seen the increase.
In interest rates for thought in the last two or three weeks has started going down again.
But the answer your question is with a — went to their problems everywhere in the world and — their problems everywhere in the of people don’t know what to do.
They think they should buy — this the wrong thing to do but that’s what they do I don’t know the dollar.
This — terrible bear on the dollar but I don’t the dollar because I think everybody else is gonna die in turn times of.
You’ll dollars in investor or just as a means of exchange.
Means — I also own some as an investment on on — because people don’t panic you know put the money and I’m Swiss francs down.
Yen — dollars more US dollars more than anything — you’re also looking at Russia I have told you haven’t — yet but you’re looking — you really wanna be in bed with Vladimir Putin.
Pattern that food has been a crook and a thought there’s no question about it and it has no question about that.
This in mind I don’t know that any big investment that is made it — he has something to do it right.
First time I went to Russia.
1966.
Soviet — I’ve been negative on the Soviet Union and Russia ever — what is that 46 years have been negative.
I find myself to my astonishment — to my amazement saying let you know when he’s — change.
Now I cannot defend their past actions I can attacked their — past actions but they seem I would just denied Vladivostok as a matter of fact last weekend.
They seem to be making.
Real change — years but now you know — this and give — a billion dollars and it will take — wait for a a couple of quick — is always huge yeah it’s not a great — out now they’re putting — in the you give — have been out — part of a billion dollars besides you.
Will invest in the same thing you invested and you get to keep the profits and we get to keep the — this is — we knew that several projects like he has.
He’s spending billions of dollars in the Far East.
To build and a whole new transportation card this not heard the man — I couldn’t keep an interview I believe how he’s how might you get involved how — made up by the of their currency partnership currency what.
I — invest in public traded Obama made by the congress — stocks.
Problem is the stock market is 70% energy.
I don’t think I wanna buy Russian energy companies are looking around for those other.
We teased that you have one country in Europe that you’re really thinking is a good investment I know their currency begins with a K I don’t know whether it’s the Kroner — what what is the country.
Well on my thanks your time Russia all OK well we we were thinking that you’re there is one currency in Europe that your well — writes that Swedish — come krona that’s what you mean.
I on the Swedish car why should why — Sweden worth holding my on the Danish krone Swedish krona and the Norwegian — I — so anything that begins with a case for tax — why is that — prices Swedish currency for example —
Okay the bend extended he went through the — In the early ninety’s and that people as opposed to us they let people go bankrupt those terrible pain and they started over have been found economies.
Balance of trade surpluses but don’t print a lot of money and — a central bank and an economy that I would want it.
Not the way.
Washington —
Jim Rogers it not only Smart guy himself but by the way your daughter is a number one Mandarin speaker in — school in Singapore is that right — He’s at a school 3000 Chinese kisses for good matters speaker not bad I don’t and Jim Rogers good to see you thank you —
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