Posted on 10/15/2012 2:08:13 AM PDT by bruinbirdman
In a riveting interview on CNBC, legendary investor Jim Rogers warned Americans to prepare for "Financial Armageddon," saying he fully expects the economy to implode after the U.S. election.
Rogers, who for years has been an outspoken critic of the Feds policies of "Quantitative Easing," says the world is "drowning in too much debt." He put the blame squarely on U.S. and European governments for abusing their "license to print money." In the U.S. alone, the national debt has surged to nearly $16 trillion, that's more than $50,000 for every American man, woman and child.
"[They] need to stop spending money they don't have," Rogers said. "The solution to too much debt is not more debt... What would make me very excited is if a few people [in the government] went bankrupt..." Rogers added.
Rogers also charged Obama and German Chancellor Angela Merkel with promoting dangerous policies that create the illusion the economy is stable... but are really only intended to buy time before their upcoming elections.
"Mrs. Merkle has an election next year," Rogers said. "Mr. Obama has an election in November. The Americans and the Germans - they want to do everything they can to hold the world up until after the next election."
"It's going to be bad after the next election."
How bad? Worse than Rogers predicts, according to a new investigation.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a "frightening pattern" they believe points to a massive economic catastrophe unlike anything ever seen in the history of the world.
(Excerpt) Read more at moneymorning.com ...
Johnnie come late. We knew this a long time ago
He endorsed Ron Paul in 2008.
Leni
It better hurry up! Only 3 weeks to go.
"He endorsed Ron Paul in 2008."
Ron Paul got his Gold Committee into the GOP platform. Rogers would like to see a gold standard.
yitbos
Ezekiel 7:19
They will throw their silver into the streets, and their gold will be an unclean thing. Their silver and gold will not be able to save them in the day of the LORD’s wrath. They will not satisfy their hunger or fill their stomachs with it, for it has made them stumble into sin.
I don’t trust men who wear bow ties
the catastrophe may happen well before Americans hit the polls in November....It could well HAVE happened. Who is going to tell us? ABC, NBC MSNBC?
a massive economic catastrophe unlike anything ever seen in the history of the world.
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so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. This calls for wisdom. If anyone has insight, let him calculate the number of the beast, for it is man’s number. His number is 666. Revelation 13:17, 18
well, the problem about all of these “unlike anything ever seen in the history of the world.” is that it is humbug - it’s happened in the past and will happen again. The collapse of the Roman currency under debasement, Chinese imperial monetary collapses, right down to the Weimar hyperinflation — it’s happened before.
Hell I'd settle for a GDP standard. (GDP above 3% you can expand the money supply, below you have to shrink it.) Except then they'd just fudge the number.
But see the problem is we have "no standard" right now. Just print till you run out of ink, them make more and start again!
So a so-called "massive economic catastrophe unlike anything ever seen in the history of the world" will barely make a dent in the unshakeable cohesion of this wonderfull one world village.Onwards and upwards!
Do I really need it?
I’m buying as much ammo as I can afford. The new gold I’m not kidding.
I’m buying as much ammo as I can afford. The new gold I’m not kidding.
Sell Now.
I second that — bullets have far more value than a gold coin!
Another warning of impending doom that says you must prepare immediately. Then no information in the article about how to repair.
Assuming Romney wins, he will get the blame, even though he haa zero to do with it.
I forgot to add. If Obumbo wins, the economy will be Bush’s fault.
If more of us could move to Singapore we would, and should
Rogers saw armageddon coming a long time ago and walked the walk, especially after his children were born
What do you know about his “wealth” and what say do you have in how he invests it? If I could live in Singapore, immerse my children in learning Chinese as the future world economic engine, and buy up farmland all over the world, I would too
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