"Bernanke Will Print Money Until There Are No Trees Left In America"

[mg]

"America is bankrupt : Jim Rogers
November 9, 2008

Another legendary investor, Jim Rogers has no more confidence in the
US, its bailout of the banks, the US dollar. He’s gung ho about China
and the Renminbi. So much that he now shifted with his family to
South East Asia (Singapore). He believes the future of the world is
in Asia, more importantly in China and wants to stay as close as
possible to the action.

America is bankrupt. American government bonds are extremely
overvalued. “The world’s last bubble.” America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. “These bonds
have peaked.” By the way: Rogers owns Dutch government bonds. “They
are safe.”

“The fact that the dollar is gaining rapidly is only temporary”,
Rogers says. “All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead.” “This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama.”

“The question is not if the price of a barrel of oil will increase
again, but how expensive a barrel of oil will be eventually?”

Rogers is not a big fan of Bernanke, the president of the Federal
Reserve. With a big smile Rogers tells us: “Bernanke will continue to
print money until there are no trees left in America.”

According to Rogers, farmers have a bright future. “within a few years
farmers will drive Maserati’s and all stockbrokers will be
cabdrivers.”

http://philip9876.wordpress.com/2008/11/09/america-is-bankrupt-jim-rogers/

[El Castor]

Post by mg
"America is bankrupt : Jim Rogers
November 9, 2008
Another legendary investor, Jim Rogers has no more confidence in the
US, its bailout of the banks, the US dollar. He’s gung ho about China
and the Renminbi. So much that he now shifted with his family to
South East Asia (Singapore). He believes the future of the world is
in Asia, more importantly in China and wants to stay as close as
possible to the action.
America is bankrupt. American government bonds are extremely
overvalued. “The world’s last bubble.” America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. “These bonds
have peaked.” By the way: Rogers owns Dutch government bonds. “They
are safe.”
“The fact that the dollar is gaining rapidly is only temporary”,
Rogers says. “All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead.” “This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama.”
“The question is not if the price of a barrel of oil will increase
again, but how expensive a barrel of oil will be eventually?”
Rogers is not a big fan of Bernanke, the president of the Federal
Reserve. With a big smile Rogers tells us: “Bernanke will continue to
print money until there are no trees left in America.”
According to Rogers, farmers have a bright future. “within a few years
farmers will drive Maserati’s and all stockbrokers will be
cabdrivers.”
http://philip9876.wordpress.com/2008/11/09/america-is-bankrupt-jim-rogers/

Uh, MG, surely you are aware that Bush/Paulson/Bernanke have spent
only half the TARP money. Obama views that as a warmup. He intends to
go nuts with the printing press. So, does this post mean that you
think Obama is making a huge mistake?

[mg]

Post by El Castor

Post by mg
"America is bankrupt : Jim Rogers
November 9, 2008
Another legendary investor, Jim Rogers has no more confidence in the
US, its bailout of the banks, the US dollar. He’s gung ho about China
and the Renminbi.  So much that he now shifted with his family to
South East Asia (Singapore).  He believes the future of the world is
in Asia, more importantly in China and wants to stay as close as
possible to the action.
America is bankrupt. American government bonds are extremely
overvalued. “The world’s last bubble.” America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. “These bonds
have peaked.” By the way: Rogers owns Dutch government bonds. “They
are safe.”
“The fact that the dollar is gaining rapidly is only temporary”,
Rogers says. “All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead.” “This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama.”
“The question is not if the price of a barrel of oil will increase
again, but how expensive a barrel of oil will be eventually?”
Rogers is not a big fan of Bernanke, the president of the Federal
Reserve. With a big smile Rogers tells us: “Bernanke will continue to
print money until there are no trees left in America.”
According to Rogers, farmers have a bright future. “within a few years
farmers will drive Maserati’s and all stockbrokers will be
cabdrivers.”
http://philip9876.wordpress.com/2008/11/09/america-is-bankrupt-jim-ro...

Uh, MG, surely you are aware that Bush/Paulson/Bernanke have spent
only half the TARP money. Obama views that as a warmup. He intends to
go nuts with the printing press. So, does this post mean that you
think Obama is making a huge mistake?

The tarp money isn't the main problem. It's the national debt and
Bernanke's use of the printing press.

[El Castor]

Post by mg

Post by El Castor

Post by mg
"America is bankrupt : Jim Rogers
November 9, 2008
Another legendary investor, Jim Rogers has no more confidence in the
US, its bailout of the banks, the US dollar. He’s gung ho about China
and the Renminbi.  So much that he now shifted with his family to
South East Asia (Singapore).  He believes the future of the world is
in Asia, more importantly in China and wants to stay as close as
possible to the action.
America is bankrupt. American government bonds are extremely
overvalued. “The world’s last bubble.” America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. “These bonds
have peaked.” By the way: Rogers owns Dutch government bonds. “They
are safe.”
“The fact that the dollar is gaining rapidly is only temporary”,
Rogers says. “All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead.” “This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama.”
“The question is not if the price of a barrel of oil will increase
again, but how expensive a barrel of oil will be eventually?”
Rogers is not a big fan of Bernanke, the president of the Federal
Reserve. With a big smile Rogers tells us: “Bernanke will continue to
print money until there are no trees left in America.”
According to Rogers, farmers have a bright future. “within a few years
farmers will drive Maserati’s and all stockbrokers will be
cabdrivers.”
http://philip9876.wordpress.com/2008/11/09/america-is-bankrupt-jim-ro...

Uh, MG, surely you are aware that Bush/Paulson/Bernanke have spent
only half the TARP money. Obama views that as a warmup. He intends to
go nuts with the printing press. So, does this post mean that you
think Obama is making a huge mistake?

The tarp money isn't the main problem. It's the national debt and
Bernanke's use of the printing press.

The trigger of the current problem was the bursting of the housing
bubble, and a deflationary spiral in housing prices -- not Ben
Bernanke. To place the blame on Bernanke is so wrong, it's ludicrous.
The Fed is inflating the money supply in an effort to stave off
deflation. In normal times the Fed's main tool would be lower interest
rates, but the situation is so serious that rates can't go any lower,
so the Fed has no choice but to pump up the money supply. If we
eventually experience an inflation, you can blame the Fed, but for now
the CPI is actually dropping -- a very bad thing.

As for the size of the US national debt as a ratio of total debt
versus GDP, which is the only way to measure it, the US has a lower
debt to GDP ratio than most large developed economies -- the worst, by
far, being Japan.

I've posted the statistics at least twice in this group, but if you
don't believe me, I will just dig it out again.

[Frank Y]

Post by mg
"America is bankrupt : Jim Rogers
November 9, 2008
Another legendary investor, Jim Rogers has no more confidence in the
US, its bailout of the banks, the US dollar. He’s gung ho about China
and the Renminbi.  So much that he now shifted with his family to
South East Asia (Singapore).  He believes the future of the world is
in Asia, more importantly in China and wants to stay as close as
possible to the action.
America is bankrupt. American government bonds are extremely
overvalued. “The world’s last bubble.” America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. “These bonds
have peaked.” By the way: Rogers owns Dutch government bonds. “They
are safe.”
“The fact that the dollar is gaining rapidly is only temporary”,
Rogers says. “All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead.” “This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama.”
“The question is not if the price of a barrel of oil will increase
again, but how expensive a barrel of oil will be eventually?”
Rogers is not a big fan of Bernanke, the president of the Federal
Reserve. With a big smile Rogers tells us: “Bernanke will continue to
print money until there are no trees left in America.”
According to Rogers, farmers have a bright future. “within a few years
farmers will drive Maserati’s and all stockbrokers will be
cabdrivers.”
http://philip9876.wordpress.com/2008/11/09/america-is-bankrupt-jim-ro...