Summary:
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Chris welcomes back Jim Rogers from his Singapore office, who says a financial crisis is imminent.
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His largest currency position remains the US dollar, which will likely rally into a bubble which eventually implodes in spectacular fashion.
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Although not a safe haven, the US dollar seems impervious relative to most global currencies, for the moment.
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He continues to monitor the gold market for signs of capitulation, to add to his stockpile.
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Russian and Chinese firms present appealing investment opportunities.
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Jim Rogers holds short positions in US shares, in anticipation of further volatility on the heels of the Fed rate hikes.
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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.