Jim Rogers makes bold call on the dollar

Justacommeman

JR

Dollars bulls do not watch this
an excellent video
silver bugs make sure you watch at the 10:00 mark

ocon4008

interesting, very very interesting

dino2008

Mesquite

I do not doubt that the US dollar is in some serious trouble. Roger's commentary seems to me to be a "short-term" (a few years) red flag whereas the "documentary" takes that red flag out somewhat "longer-term" (a decade or more more). One question. When the serious dollar decline happens, surely the corner gas station or Piggly Wiggly will not be accepting payment in commodities (assuming that they have goods to sell). They will be selling their gas and food for inflated dollars. Those holding the commodity will have to find a buyer to convert to the spendable dollars. To whom will those currently holding (and currently buying) silver and gold sell their silver and gold. The answer to that question is not obvious to me. Will we be holding a valued but unsellable commodity? Will APMEX (for example) be buying (yes, in the short-term, but perhaps not in the long-term)? Will the banks, flush will dollars, become our commodity buyer? Any thoughts on that?

KUCH

Informative!!! Would like to think 80% of the forum members here already knew most of these projections. That's why we're buying. Inch by inch, pound by pound, or should I say oz by oz, we're going to bring back true financial stability in America...... for our children. It won't be without pain. I'm a optimist.

roadrunner

I have about 2 dozen gold buying businesses (coin shops, pawns, jewelry & collectibles, gold wholesalers) within 30 min of my location...not to mention another dozen vest pocket coin dealers w/o storefronts. If I increase that to 1 hour the number doubles or triples. Any one of them is willing to pay the same day for PM's purchased. Several of them offer to cash their check right in the store so you can walk out with cash. Others only operate on cash.

The same thing can happen with FRN's. People and businesses can start refusing them can't they or charge a different/higher price for cash/credit vs. PM's? I don't believe the Constitution & Coinage Acts force people to accept FRN's as payment. In fact the Coinage act requires payment in precious metal. If the above were to happen businesses would sprout up that specialized in turning PM's into notes/credit (basically an exchange business). It would not be much different than what credit card companies do. If there is a need, there will be people figuring out a way to service that need and profit by it. Wouldn't be surprised if your friendly BoA, JPM and other banks would oblige as they would probably be happy to accept metals and give you back notes or keystrokes. This way they could own all the money exhanging businesses. It wouldn't surprise me in the least if they are already doing this by being the money behind $Cash4Gold or other gold buying schemes. It's a relatively inexpensive way to buy gold well below melt and ultimately compete with the miners.....as long as the scrap supply keeps coming in.

roadrunner

fishcooker

Will we be holding a valued but unsellable commodity? Will APMEX (for example) be buying (yes, in the short-term, but perhaps not in the long-term)? Will the banks, flush will dollars, become our commodity buyer? Any thoughts on that?

It would not surprise me if the government outlawed, or greatly taxed, the ordinary citizen (subject?) from profiting on gold and silver. They won't allow an "unfair" advantage.

Secondly, there are other countries/societies that have problems with worthless currency. One that comes to mind, has a federal limit on exchanges at the official exchange rate ($500/month, for example), so the locals can't protect their finances. Therefore, a black market exchange exists at +-3x the official rate. But even then you have to be careful, because exchange too much and you're a target for theft.

roadrunner

When the govt outlawed the private ownership of gold beyond $100 back in 1933 it set a bad precedent. But the people took it in stride....different times. Today, I think outlawing the trading of gold and other competitors to the FRN's would be met with a lot more resistance. After all we're the land of the FREE, and home of the BRAVE. As freedoms continue to get waxed off the people's fuses will burn very short. North Vietnam banned gold imports a few years back to try and gain control of their depreciating currency. It didn't work and black markets only got worse. They have just recently restored gold imports again. There's no doubt that laws against gold "profiteering" will come down the pike in one shape or another. It could VATs on the purchases or windfall profit taxes on the sales for starters. Writers such as Maurice Rosen saw that coming back in 2002. It could also be tighter reporting such as requiring documentation of any gold purchases or sales of >$1000 regardless of payment method. Change is coming... that we can count on.

Just as the oil companies were singled out for all the inflation ills of the 1970's (and 2004-2008), the gold "bugs" (miners, investors, collectors, etc) will be targeted as the problem for many our our economic ills in the next few years. After all they will say its "unpatriotic" to buy a dead asset like gold rather than to invest in America's companies to support the dollar. And my retort is that it is unpatriotic to ignore the constitution and coinage act with respect to what money is all the while rewarding the very same institutions and criminal/immoral behaviors that got us to where we are.

roadrunner

jmski52

It could VATs on the purchases or windfall profit taxes on the sales for starters.

Does Europe still have a 15% VAT on silver? Contrast that with China, who is encouraging the public to join in the silver free market, and India who is actively buying gold by the hundreds of tons.

With a Prime Minister like Gordon Brown who shrewdly sold Britain's gold for $200/oz., it is no wonder that places like the UK are on the verge of financial collapse.

NumbersUsacom

Regarding the UK,

Yes with Carbon Dioxide termed a harmful substance to the human race By our very very well informed EPA we will now give all the wests riches to third world countries and the carbon barons are vying for position just as gould, getty and others did years ago. On the top of the current heap is the internet inventor and carbon czar Al "heat miser" Gore. The UK is gone and we are headed toward a new era of carbon winners and loosers. Where does Gold factor in to all of this. It has to tie in somewhere in this new "vapor gold" era. This will end up far surpassing the oil- "liquid gold" era in monies involved.

yellowkid

Jim Rogers, I didn't know he was still around, I used to enjoy him years back, 80's??


just caught his interview on CNBC, I remember why I liked him.

KUCH

PM's used to puchase food, clothing, shelter. My thoughts......... Yes, the govn. will try to tax, prohibit run away profits and will continue to print the fiat greenback. JR said in the video, he was at a meeting in Europe and 76% of the people said they were not buying gold yet. What does that tell you? We've got a huge upside.

I seriously believe PM's will be traded, (bought/sold), and used for payment on goods and services.

My concern is confiscation and redistribution. If we can prevent that, we'll be just fine.

1jester

<< <i>It could VATs on the purchases or windfall profit taxes on the sales for starters.

Does Europe still have a 15% VAT on silver? Contrast that with China, who is encouraging the public to join in the silver free market, and India who is actively buying gold by the hundreds of tons.

With a Prime Minister like Gordon Brown who shrewdly sold Britain's gold for $200/oz., it is no wonder that places like the UK are on the verge of financial collapse. >>



Sure, Europe has a VAT on basically everything, and the rates vary as to product, service, and between countries. If I'm not mistaken, some countries have up to 25% VAT on most things.

Bear

All our financial problems will be resolved in 2012.

jmski52

JR said in the video, he was at a meeting in Europe and 76% of the people said they were not buying gold yet. What does that tell you?

Wasn't it a room full of financial managers, or did I imagine that?

I wouldn't be surprised if a high percentage of financial types are buying gold while at the very same time they are telling there clients how much better stocks are as an investment than gold.

Justacommeman

<< <i>JR said in the video, he was at a meeting in Europe and 76% of the people said they were not buying gold yet. What does that tell you?

<Wasn't it a room full of financial managers, or did I imagine that?.

I believe JR said that 76% of the people in that gathering said that they have never even owned gold. Yes, they were financial gurus. MJ

cohodk

I like JR for his sense of adventurism and bow ties.

And if you really believe in the demand equation, you would see demand for food will be much greater than the demand for gold.

Justacommeman

<< <i>I like JR for his sense of adventurism and bow ties.

And if you really believe in the demand equation, you would see demand for food will be much greater than the demand for gold. >>


You may just yet. MJ

MrOrganic

<< <i>I do not doubt that the US dollar is in some serious trouble. Roger's commentary seems to me to be a "short-term" (a few years) red flag whereas the "documentary" takes that red flag out somewhat "longer-term" (a decade or more more). One question. When the serious dollar decline happens, surely the corner gas station or Piggly Wiggly will not be accepting payment in commodities (assuming that they have goods to sell). They will be selling their gas and food for inflated dollars. Those holding the commodity will have to find a buyer to convert to the spendable dollars. To whom will those currently holding (and currently buying) silver and gold sell their silver and gold. The answer to that question is not obvious to me. Will we be holding a valued but unsellable commodity? Will APMEX (for example) be buying (yes, in the short-term, but perhaps not in the long-term)? Will the banks, flush will dollars, become our commodity buyer? Any thoughts on that? >>



Hopefully many will have made the move from one hard asset (pm"s) to another............. ..... FARMLAND!