Chris welcomes back Jim Rogers from his Singapore office, who says a financial crisis is imminent.
His largest currency position remains the US dollar, which will likely rally into a bubble which eventually implodes in spectacular fashion.
Although not a safe haven, the US dollar seems impervious relative to most global currencies, for the moment.
He continues to monitor the gold market for signs of capitulation, to add to his stockpile.
Russian and Chinese firms present appealing investment opportunities.
Jim Rogers holds short positions in US shares, in anticipation of further volatility on the heels of the Fed rate hikes.
The zinc market is off over 90%, making ETF shares (ZINC) a potential turn around candidate in the coming weeks / months / years.
- Chairman of SchiffGold.com, Peter Schiff returns to the show with dire warnings of a looming currency crisis.
- His work indicates that eventually, momentum will return to the gold market, making $100+ days commonplace culminating $5,000 gold.
- The multi-year bull market in stocks may be viewed in retrospect as a Fed fomented bubble, which crushes million of retirement portfolios.
- Artificially low rates inspired large corporations to repurchase their shares via cheap debt, which can only end badly for investors.
- Although US retail sales are solid, better leading economic indicators like the Dallas Manufacturing Index and the US Weekly Leading Index are rolling over (Figures 1.1. & 1.2.).
- The dollar was on the verge of collapse during the credit crisis, but was saved by the bailout.
- The next decline will require the formation of an entirely new currency.