Jim “fuck America sideways with a Bow Tie” Rogers
In order to continue my barrage of things Jim Rogers might say, via my Twitter account, I designed 7 questions that I endeavor to ask Mr. Rogers, because I am most interested in his humble opinions.
If you enjoy the content at iBankCoin, please follow us on Twitter1. Jim, I’ve read and heard about it on CNBC that gold is basically worthless and that the preferable place to preserve wealth is in the U.S. dollar. Your thoughts?
2. Jim, knowing what you know now, seeing how the U.S. bailouts worked, would you support future bailouts of the same magnitude in order to preserve our modern financial system?
3. Jim, would you compare the recent unchecked surge in commodities to the dot com boom of the late nineties? If so, why?
4. Jim, you were once quoted as saying “Dr. Bernanke should be fired” and “he is an idiot.” Seeing that the stock market has done so well under his tutelage, do you regret those words and would you like to offer Dr. Bernanke a public apology?
5. Jim, we have interviewed some world renowned money managers here and many of them said to sell commodities and buy bank stocks. What do you think of that trade?
6. Jim, you’ve been a big supporter of China for many years. Seeing the vast amount of fraud being purported by Chinese companies listed in the U.S. as of late, how do you feel about aligning yourself with a bunch of crooks and thieves?
7. Jim, would you buy U.S. real estate right now? If so, what do you think of buying homes, renovating them, and flipping them for short term profits, as an alternative to saving money in a zero interest rate environment?
LMFAO
Nice one Fly
Am I first tonight? I saw those comments on Twitter, Fly, they were hysterical. How come they don’t show up on Stocktwits like some of your other posts do?
I can’t believe how lame that OT goal was that the Bruins gave up. I’ve been a fan since the 1970s.
Because I only post my personal stuff via Twitter. Mr. Lindzon doesn’t like potty language on Stocktwits.
Then fuck Howard. These are EXACTLY the questions that need to be raised on Stocktwits.
Would make the enterprise much more relevant, considering Bowtie is still doing conference calls with fund managers, investment managers and BANKS who will never ask the hard questions.
That’s a pile of bear shit!! spoken from the real sir with love and respect.
Then you have been LAME since the 1970s – the Bruins are the GAYEST franchise in pro sports.
When they lose the Stanley Cup, they will be forced to pick up Jim Rogers bow tie – with their anus.
I sincerely hope you are not a witness.
Now good day!!
Canucks are amazing.. series is sure damn exciting when the refs let ’em play, hardly any penalties last game… good to see.. super fast and fun hockey. Although the B’s were tryin’ to slow it down…
Fuck Utah!
Hell yes.
Fuck I-Da-Ho too …
Jim Rogers after being asked those questions:
http://twitpic.com/575rrs
All I have to say about that picture is…Fucking LOL!
The Fly dressed as Jim Rogers:
http://www.freewilliamsburg.com/wp-content/uploads/2010/08/img_3.jpg
Great set of questions.
One more for Jim… Is that a clip on?
Rofl!
Jim, What is your perspective on selling the “breadbasket” midwestern farming states to china,
in order to fund perpetual wars on infinite fronts?
Or at least put an ipad in every home?
We’re selling Utah.
OK this is fun…let me take a stab at what he would say
1. Well you can give me that gold then
2. Are you kidding, this is just a ponzi sceme to bankrupt this country
3. No..don’t be silly…you need this stuff to live..yes it may get over price at times but for the longterm buying a farm is your best investment
4. That is so stupid, he is bankrupting our country and making the US Dollar worthless
5. Well, then they can just do that. I don’t rather care what they do.
6. There are Crooks in all markets, don’t be niave, China doesn’t owe the world trillions and printing money that could be worthless..now that is crooked
7. I wouldn’t buy homes in US…I would buy Farmland…that is where the real value is…
I am long a crapload of farmland, but…
I am also an ex farm kid who isn’t condemned to pay market price for all of it. And…
Last time everybody and their mamas got all boneriffic over owning farmland we went on a 20 equity bll run and land prices stagnated for … a long while
trading nymph what is Jims opinion on whether or not the fed should enact another round of asset purchases?
Herb, In October when I actually hung out with the bow one, I was actually watching the tape on Bloomberg cuz I missed the market that day and was catching up…I was talking when I was looking at that the tape,just all my random thoughts on what I was seeing (cuz I sort of do that)…one was that the NY Fed Bank was going to be releasing the POMO schedlule, so of course I went on my normal rant about how they could do this to our country and the loss interest of other Countries in buying our treasuries. He was smiling all the way thru my discussion of POMO and agreeing with it all, so I seriously doubt he would think anymore stimulus is a good idea.
you sure he wasn’t smirking cuz of that brown stuff on your nose? spoken from the real sir with deep love and understanding respect.
dr le fly, i know you are just jealous of his sick bowtie
hudson terrace wasnt the same without u
These questions would fail to Piss the Fuck off Jim Rogers … he’d laugh & then lecture you on your erroneous process of postulating
No, he would just laugh.
Here is a question I would love to see Professor Bernanke answer on national TV:
When the US dollar becomes so weak from your zealous overprinting, that our trading partners no longer accepted it the world’s reserve currency, will the US continue to be able to consume far, far more wealth than it produces?
In 1975, the national debt was $395 billion. In 2010, the US Government spent $447 billion on compensation for the federal government workforce alone, and the national debt is now over $14 trillion. The US Government is borrowing $2 million more, every single minute of every single day. If this were a just country, not run by ponzi scheme artists and embezzlers, Madoff would have a few new cellmates.
Bernanke has zero power to print money. New dollars are created by deficit spending…
“Bernanke has zero power to print money. New dollars are created by deficit spending…”
Not true, In 2008, using its Term Discount Window Facility, Term Auction Facility, Term Securities Lending Facility, Primary Dealer Credit Facility, and buy-back programs to save the big banks from their imploding asset-backed securities, the Fed expanded its asset balance sheet. The Fed also engaged in reciprocal currency swaps with other foreign central banks. Using these contrived programs, the Fed inflated its assets by over $1.6 trillion. These Fed actions resulted in an increase of over $600 billion in big bank reserves. If that’s not “printing” money, then WTF is it? The Fed went far beyond just creating more debt.
It doesn’t make sense to imagine that the Fed is rule bound. The Fed does whatever it wants, at its own volition, without supervision. The Fed makes new rules, that often vitiate its old rules, whenever it chooses to do so.
so he has one up on blankfien then. so the fed has complete autonomy. if loyd was doing “gods’ ” work,then the bernanke must be “god”.answers to no one. geez,what a plan
I just read on of your best posts ever.
Gut check time. Barry Ritholtz, who jumped out of the market in 2007, before the crash, and dumped out just before the Flash Crash, just went short the market on Wednesday:
“The intense selloff at midweek led Ritholtz, CEO and research director at Fusion IQ, to buy the ProShares UltraShort QQQ (ticker: QID) and the ProShares UltraShort S&P 500 (SDS). The moves effectively shifted 20% of assets in his most aggressively-managed accounts into short positions.”
i saw his post,he is most scared from the fact that the chinese have unloaded about 90%of their u.s.notes, along with some bills. he said he was also afraid of flys’ hundo dollar pomadori. five pounds of russets,2.99.in 09 and times before the same was had for.99. i say 6 dollar gas by aug. no wonder the markets have been beaten down for 5 weeks,and now that the cat is out of the bag.
Quote from the blog post;
“In the past six weeks, his tactically-allocated accounts have moved from long positions of roughly 86% to about 50%, says Ritholtz. Cash has risen to about 30%.”
That makes him still net long. He is not net short, just hedged. I am and have been for the last 6 weeks 90% cash. Though I think it’s getting close to the point where the risk/reward favors long positions.
it does,as proven from sept 09………..”but this time it’s different”..lol
lol cheeky post fly
Gotta dissent
“seeing how the U.S. bailouts worked”
HAHAHA….Are you serious? The banks are insolvent. Moody’s is threatening to downgrade them despite the government propping them up.
“Seeing that the stock market has done so well under his tutelage”
Yeah stocks did well because the government bankrupted itself via QE and POMO in order to prop up stocks. Bernanke should be shot not fired for doing such a thing.
“Seeing the vast amount of fraud being purported by Chinese companies listed in the U.S. as of late”
Agreed.
“If so, what do you think of buying homes, renovating them, and flipping them for short term profits, as an alternative to saving money in a zero interest rate environment?”
Other than FLorida this is the most idiotic statement I have ever read on this fantastic blog. How on god’s earth are rates going to stay this low when QE ends. As a 50 year veteran credit trader told me: “the only way you see housing appreciation is via lowere interest rates”.
He also added: “Buying homes in a zero interest rate environment is the worst possible investment because you will face the headwin of rising rates over the next 30 years”
If you buy real estate it must be distressed and paid for in cash…Period. Using zero interest rates to buy real estate will get you absolutely slaughtered.
That is all.
dude… I realize that lower interest rates are supposed to encourage people to take out loans and the expectation is that more should when they’re low, and less will as rates hike, but there is no factual basis for this and no qualitative evidence of such. People only make decisions if they think it’s a decision that will net them profit. Interest rates tend to get hiked as speculation increases and equities are on the way up, and peak as speculation peaks.
Additionally, the govt essentially has an adjustable rate mortgage with their adjustable rate at the low. That means when interest rates start to rise their payments increase… This is inflationary. TO pay it off they have to print even more money in the insane way you would take out another credit card to pay it off. The result is a huge infusion of capital into the economy. Open a history book and see what real estate did when Volker raised rates the most in US history… It was the biggest boom in history.
Infected with instant counterintuitivity, I’m looking for ASCO news releases on Monday and from Jefferies on Tuesday. Some heavy shit coming down in clinical oncology, synthetic biology will get attention. I’m just sayn’.
ruggyup…I LOVE ASCO, but I got bitten trying to go long even GREAT cancer biotechs in a down market. If you follow me on Twitter I retwitted the link to the ASCO site to see the schedule and days news last night. This year I didn’t even bother to go thru the abstracts cuz if we go into a freefall it won’t matter…which sort of sucks when a cure for cancer can’t be bought.
BTW…if I wanted to talk to him about anything (which is cool, I can if I want)…I would probably be bouncing off my thoughts about how the China Govt built this huge mega Dam for Hydro Electric Power and that appears to be one of the factors of their major historical drought, I would ponder what they would do with their plans to build a heck of a lot more dams ( I posted on this last week or so). They have such a hard balance, they need energy, they need food…only so much water….Off topic, I really need to get my butt to europe, if I talk to him..I KNOW that is the first question that he will ask me…he really wants to see me traveling the world.
TN, I lost your web site. What is it?
Name dropper.
Frog..just click my name here and it links to it.
You know what they say about tiny men who wear BIG BOW TIES?
can we say,altogether now, “Over compensating!!”
Sidney needs to slap that bow tie right off that little man and teach him a lesson or two about respect.
http://youtu.be/flu63E4tvLQ
Jim,
Is it true you gave Trading Nymph $100 for a passport, and if so what did you get in return?
I’ll hang up and listen.
which jim…………………………………………………………………………………………….. there’s 3
Drummerboy..it was Rogers that sent the money. From Jim Cramer I only got a book at his USC trip. James Altucher bought a round of drinks in vegas…I think that is enough name dropping for now.
How do you know Rogers? Are you famous. Your web site looks good, especially for Bears.
Frog are you asking me?
Yes, Frog is asking you Nymph. He doesn’t like to hit the reply button.
Frog, Nymph might not be famous but her jeans are famous.
lol…thanks Bullish. Yep Jeans are famous but I am not. I promise I will write up a small piece in Peanut Gallery on how I met the bow one when I get a moment.
Quick version, someone was using his name on twitter, I em him about it thinking I would get his staff. Well he answered and our paths crossed.
Well the futures did not open down 2% like most bears thought was inevitable…
About that QE3:
Check it out, how beneficial and soothing effect inflationary efforts of QE1 and QE2 had on BDI:
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
excerpts fom Mr Schiff’s latest:
Fed Stimulus Leads to Stagflation
Despite the full onslaught of Keynesian economic policies, including the injection of unheard of sums of printed money into the financial system, state sanctioned accounting tricks, negative real interest rates, massive deficit spending, and debasement of the U.S. dollar, the American economy is slipping back fast towards recession. This week’s release of dismal employment figures, in which the entire economy could only muster 54,000 new jobs, confirms that fact.
It is certainly reasonable to assume that more jobs would have been lost in 2008 and 2009 if the government had not steeped in as aggressively as they had with this Keynesian barrage. But if we had chosen the less interventionist path our present reality may have been quite different. We had the opportunity then to lay the ground work for a real recovery. This was a theme that I continually stressed at the time. Instead, our leaders chose the time worn strategy of inflation as an economic cure all. It hasn’t worked, and our economy is far worse now as a result.
But the price for these massive injections of cash and the debasement of the currency will be continued economic malaise. There is a word for the ugly combination of recession and inflation: stagflation-the worst of all worlds and the most difficult to cure. I suspect that we will hear this word mentioned much more often as the decade wears on.
The Fed has pumped trillions of synthetic dollars into the economy through purchases of toxic assets from the balance sheets of failing banks. These moves have permitted banks to camouflage other suspect assets under accounting gimmicks, thereby perpetuating a zombie financial system. Not only have most of the struggling banks survived, they are thriving. By dropping short-term interest rates to below the level of inflation, and by receiving interest on the deposits made at the Fed, the banking sector has been extremely profitable over the last few years, especially for those institutions lucky enough to have been designated as “too big to fail.” It is not surprising that Wall Street bonuses continue to flow generously. But these developments hardly benefit the world beyond Wall Street.
By robbing depositors of an economic return on bank deposits, the Fed sought to force consumer demand. However, aware of their massive exposure to derivatives, many related to real estate, the banks remain tight on consumer lending. Further, the Administration has appeared unfriendly to business and has caused great uncertainty over future taxes, regulations and health expenditures. As a result, consumer confidence has plummeted, and rightly so.
As the price of real estate continues to fall, it draws into question the backing of real estate related derivatives, threatening the banks, making credit even tighter, and driving recession even deeper amid rising unemployment. All the while U.S. Government spending still veers out of control. To finance the largesse, Treasury debt has exploded and the Fed has printed money as never before. As a result, the U.S. dollar is approaching all time lows against the many major currencies. If it were not for deep concerns over the continued existence of the Euro, the U.S. currency would have fallen far further.
Some short-sighted economists have lauded the fall of the dollar by arguing that a weak greenback will help U.S. exports. While it’s true that initial stages of currency devaluation can have such an effect, over time a falling currency proves to be both highly damaging to domestic businesses and inflationary for the overall economy. Evidence increasingly shows that American businesses and consumers are facing higher import costs. In other words, do not look for a cheap dollar to provide any meaningful boost.
Clearly the government’s economic prescriptions have failed. That does not mean, however, that their policies will be abandoned. On the contrary, look for policy makers to up the dosage. But when the Fed introduces a third QE program, look for inflation to break free from the narrow ranges that have predominated over the last few years. When that happens, the next phase of the economic cycle will set in. Stagflation will be the order of the day.
First!
Jim, what stock should I buy tomorrow morning?
Jim, what’s more out of allignment, your tie, or your timing in the market?
7 Questions Designed To Irritate Fly:
1. Fly, Is it true that you have six illegal Mexican gardeners living in your shed on the back of your house?
2. Fly, Do you like pepperoni or sausage or both on your hot pizza ?
3. Fly, When you kick old people down manholes, do you wear Crox, Nike sneakers, or those pointy Italian shoes with a piece of metal at the toes?
4. Did Jeremy, your IT person, finally get his GED?
5. Is it true that you always consult Jake Gint before making a trade?
6. Are you actually writing the comments of Steve The Neighbor?
7. Do you really live in NY, because I hear you are a Southern Boy who loves pulled pork and actually lives in Tennessee?
Bonus Question: Are you actually a high school senior writing this blog in the basement of your parent’s house, as a part of your senior thesis?
Southern boy pulling his pork? Fly? Nah, Fly lives in da Bronix. Correction, not “lives”, should be cohabits.
Solid comeback.
#5 is a classic
http://www.youtube.com/watch?v=M7v4TCZS_Jo
No wonder Gadaffi was going to the gold standard.
http://www.youtube.com/watch?v=YUkNnQE-9B4