Posted on 02/15/2016 10:38:56 AM PST by upchuck
Note, original title shortened to fit: Famed investor Jim Rogers is warning that financial Armageddon is just around the corner, and it's being fueled by moronic central bankers
"We're all going to pay a horrible price for the incompetence of these central bankers," he said Monday in a TV interview with CNNMoney's Nina dos Santos. "We got a bunch of academics and bureaucrats who don't have a clue what they're doing."
The Singapore-based American investor said central bankers are doing everything they can to prop up financial markets, but it's all for naught. He predicts their unconventional monetary strategies will lead to a stock market rally in the near future, but deep trouble later this year and into 2017.
"This is going to be a disaster in the end," he said. "You should be very worried and you should be prepared."
Central bankers around the world have been increasingly using negative interest rates to prop up inflation and support their economies, but Rogers said the moves aren't working. He said they are simply trying to rescue stock markets and help brokers keep their Lamborghinis.
"The mistake they're making is, they've got to let the markets sort themselves out," he said.
"It's been over seven years since we've had a decent correction in the American stock market. That's not normal ... Markets are supposed to correct. We're supposed to have economic slowdowns. That's the way the world has always worked. But these guys think they're smarter than the market. They're not."
(Excerpt) Read more at money.cnn.com ...
One thing the bankers aren’t is moronic. It’s the plan. Strip assets, destroy middle classes, globalize, etc... The end game is feudal authoritarian technocracy.
Bookmark for later.
You only need to remember one thing:
Everything the government gets involved with turns into a massive screw-up.
“The end game is feudal authoritarian technocracy.”
That is absolutely correct.
Remember that frenzy of banker suicides and deaths we had a year or so ago? Are we up for another one?
Workers, Families, Corporations, States, and Countries
They appear benign and even helpful, but are in aggregate
money and energy sucking parasites
At a minimum their activities are amoral
At their highest levels they are Sociopath Beasts
How does one “prepare” for such a calamity?
F yea! To the tag line MCF!
2016 is going to be a traumatic year.
So what does Rogers suggest they do instead? What are his fiscal and monetary proposals?
If markets are not allowed to correct themselves, if true price discovery is not allowed to take place, disaster will result.
We will see the folly of central bank monetary policy manifest itself in the next 18 months.
Buy physical gold and silver, not paper derivatives housed within the financial system. Buy assets that produce basic products that people need for survival. Move away from urban areas.
Central banks are the problem.
Would you please explain feudal authoritarian technocracy to me?
I can see what they’re doing but I don’t understand this term.
Rogers gives nothing away for free.
Attend his seminars and buy his books. That's the bottom line.
Yeah, who needs the stock market when you can sell books to suckers? Nothing like a certain profit....
It's a societal structure marked by a system of governance where decision-makers are selected on the basis of technological knowledge, where citizens' relation to the state is one of vassal to lord marked by characteristics of homage and wardship with property held by the lord in tenancy, and where strict obedience to authority, especially that of the government, predominates at the expense of personal freedom. So endeth the lesson.
Yikes! We’d all be under the control of hedge fund managers?
Last week I met one in a casino in Rancho Mirage...he’s addicted to video poker but said no problem...he has lots of money and can afford it. ( He apparently knew a lot of people i.e. Yellen, etc. Has met Trump and said he’s very charming...I didn’t get the sense it was total B.S.)
But....just the sort we want running our lives.
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