Another great interview with Jim Rogers, one of the few truth-tellers who continues to get MSM air time. Here he talks with Larry Kudlow, who brings up an important issue — whether the EU will eventually follow the Federal Reserve in their currency devaluation strategy. Other topics discussed: Fed lies, M2 money supply exploding, looming (potentially disastrous) global inflation.
I took advantage of the recent dip in silver prices, bought more. There are few things I want to own today more than gold & silver bullion. Global printing just getting ramped up. Bad as things are today, I believe this is the calm before the storm.
U.S. politicians from both sides of the aisle are lining up to support possible trade sanctions and tariffs on China. Apparently the enthralled ignorami we call our “representatives” are reacting to China’s currency manipulation (as if Tim G. & the gang are helpless bystanders in the global currency wars).
Rogers warns against such economic blunders, noting “We had a trade war in the 1930′s, it led to the Great Depression.”
Shortly after that bludgeoning remark, Rogers adds “We already have small signs of trade wars breaking out in Brazil, France, other places, now America. This could be very dangerous in the end.”
Use the search function (top-right) to find more Jim Rogers stuff. Lots of videos in the archive from this wise investor.
When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that blow that did it, but all that had gone before.
Jacob Riis
Gold had another up day with stocks, as it was ‘risk on’ with renewed hopes for fresh infusions of liquidity as we saw from the Bank of England.
I tended to view this action as more ‘technical’ than fundamental.
I don’t like the headline correlation between stocks and the metals like gold and silver which would normally function as a safe haven in a time of increased risk.
Notice the new lines of broad support and resistance levels on the gold chart. We have not yet broken to the upside, so caution is advised.
Guest post from Jesse’s Cafe, Oct 6 2011. Re-published with permission. Visit Jesse’s blog here.
