May 17, 2012

Jim Rogers is bearish on gold short-term and bullish on USD


 I own all the commodities. dged in gold. hedged in silver. but i own agriculture mainly. but everything is done. thank goodness i have currencies which are working. i don't own many stocks as i've told before you. thank goodness i have some shorts. you don't love the dollar but t will have a near term rally. i still own the dollar. i own more dollars than i have owned in years. what do you think of thedollar with the near term? what keeps it elevated. it is a horrible currency to own. but i own it. everybody hates it. in times of turmoil such as europe, everybody flees in the dollar. it is the wrong thing to do. an safe haven. but everybody thinks it is, so i own it too.morgan trade, seems like jamie dimon came out swiftly and said, this is stupidity, bad trade, and you know heads are going to think they sell as much commodities as you can to raisecapital. i know a lot of people are having to liquidate positionsbecause now the banking examiners ar all over the banks.especially j.p. morgan. so they are trying to take off as many positions as they can so that they the regulators don't put them out of business. what do you think in terms of banking sector over all?does this mean more regulation? they are like among the peoplesaying, local rule is not -- is not going to work. ever course it will mean more regulation. nobody likes financial types. everybody gets -- gets blamed. we, the financial types are getting blamed for all of the world's problems. we will be more regulations. more controls.maria, i have told you before, become a farmer. right. stop all this financial stuff. become a farmer. drive a tractor. get a tract. get rid of the mercedes and get a tractor? yes. let m ask you about that. a lot of people i've been speaking to lately are talking farm land. no joke. you were so early on this. is it worth owning farm land andleasing it out? you can bam become a farmer. own land and lease it out. sell it. did whatever you want. there are many vastopportunities in agriculture and farming. is that because of the china story? because of such demand coming out of places in asia? out of farmers. average age of farmers in america is 58. in asia, 66. in australia, 58. in ten years american farmers will be 68 if they are still alive. i have a hard enough time with my own garden. i don't know about me becoming a guardier. we will take a short break and then we will come back and i will ask about equities. we will be right back after this short break. later, mark zuckerberg'sfacebook goes public on friday. he becomes more rich andpowerful. today he turns 28. is that a good thing if you are an investor in facebook? we will put your answers on the air, back in a moment. ♪♪ ♪♪ ♪♪ here we are, me and you ♪♪ ♪♪ on the road ♪♪♪♪ and we know that it goes on and on ♪♪ you're the boss of yourlife. in charge of making memoriesand keeping promises. ask your financial professionahow lincoln financial ♪♪ ♪♪ ♪♪ oh, oh, all the way ♪♪ ♪♪ oh, oh ♪♪ .. and people. and the planes can seem the same so, it comes down to the people. because, bad weather the price of oil those are every airlines reality. and solutions won't come from 500 tons of metal and a paint job. they'll come from people. delta people. who made us one of the biggest airlines in the world. and then decided that wasn't enough. welcome back. we continue with jim rogers who has money all around the world. one ongoing head wind is missteps and scandals of wall street and corporate america. jim, worse that america, bigger spotlight these days in terms of doing wrong or behaving? maria, you can read world history for decades. there are always people doing things wrong. we have not changed out of human nature and we will continue to have scannedallies and problems. the retail investor is not in this market. i'm wondering when volume will go back. maria, volume is not going to come back. i'm trying to explain to add great 30 years. that's finished. now to advance, we have too many people, too 78 mbas, too much leverage and too many government that dent like us. right. this is an good place to be. which is why you are telling me to become a farmer. yes. just learn to drive a tractor if nothing else. drive the tractor for thefarmer. i told you i killed the tulips in my yard. facebook going public on friday. still a good gain on the nasdaq. there to be made here in equities but you don't like it. i don't own american equities. i a have mainly short stocks around the world. because i don't expect the world economy to be very good in the next couple of years. in fact, 2013 is probably going to be a huge mess. 2014 will be a real mess. why? so you don't like equities because of the fundamentalbackdrop here? maria, in america we have had recession every year to six years since the middle of the republican re public. next year is four to six years. they will keep everything to win the election this year. 2013 will be a mess. it always has been. no reason it won't be this time too. be very careful. corporate earnings sloweddown. but partly because the rest of the world is slowing down. you are livering in singapore. you are familiar with everything in asia.are we seeing a slow down in chien chooina? china has been trying to slow its economy for three years. they raised interest rate. they raised reserve requirements a half a dozen time. they started to loosen up a little bit but they tried to slow their economy down. and they were successful. nothing unusual. were you surprised at the big trading loss out of j.p. morgan? you and i have discussed thefact i've been short a very large america bank. i always sell calls on very large american bank. and i took a guess it was i have been a serial seller of calls on j.p. morgan. i didn't know they would havethis disaster. i just figured two who have other disasters. how did you know? sometimes i get it right, maria. you keep getting it right.i'm trying to figure out how i get it t. a balance sheet with a personrunning commodities that doesn't know what that person is card division with problems. ways sure for r reasons thenthey gave me this gift. there will be other problems coming too. so you think it goes down further from here? i think there are otherproblems coming out of large near mer can bank which i haveshorted. then of course the federal reserve making all the easymoney available. are you expecting qe3? as the economy gets bad, they will print more money. that the wrong thing to do but that's all they know to do. bernanke didn't know to do anything else. yes, they are printing money now, just not calling it qe3. that's why i own commodities opinion if things get better, commodities will do better.if it didn't better, they will print more money. taking the urgency ofliquidity off the table for the european banks and now with here we are again talking about greece exiting the euro. who knows who is next. do you think they are throwing the baby out with the bathwater? not me, i own the euro. i sold my euro positions and hedged the others. so no, unfortunately, i'm not optimistic about europe. i would like it say yes, but i have to say no. are you expecting greece to exit the euro? do you think that creates can of worms? if they exit and i don't know. i suspect it looks like they will eventually. if they do, it will cause a big drop. it is not th of the world. it would be good to make them exit or go bankrupt. but yes, i sold my euros. i have sold out. jim, great to see you as always. i'm delighted. think about tractors. jim rogers in from singapore this week.

 Jim Rogers is an great investor, author and respected financial commentator. He is a regular guest on different TV programs like these of Barron's, FT, Wall Street Journal, New York Times, Fortune and CNBC. Rogers is the president of Rogers Holdings and Beeland Interests.