One Of The Keys To My Success

I do not know quite how it happens but through out my life, I do wind up in places that other people are not visiting or talking about or even investing in. That has been one of the keys to my success.

A Little Knowledge Is A Very Dangerous Thing

A little knowledge is a very dangerous thing, we all know that. You think you know a lot, but you don`t. That is when you make a lot of mistakes. I learnt from them. I think its wonderful to lose money when you are young and it is not a lot of money because it teaches you a lot of things about the market and particularly about yourself.

The World Economy & The Financial Markets

I am trying to differentiate between the financial markets and the world economy. The world economy has not been doing terribly well, the financial markets have been doing well.

Video: The Impact Of Tapering

Jim Rogers discusses the impact of the Federal Reserve`s tapering on the markets and on the global economy.

MBA`s & Farming Degrees

If you have an MBA, I urge you to rush out and try to turn it in for a farming degree.

When Wall Street Was A Backwater

When I was in Oxford, when I was a kid, my professors used to say to me, "What is wrong with you? Why are you so interested in the stock market? The stock market is irrelevant, its totally irrelevant to the British economy and to the world economy. Why do you waste your time and ours on this?"

Now, of course, every kid in Oxford wants to have a hedge fund in his dorm room. But that is a major change. In the sixties and in the seventies, Wall Street was a backwater.

Social Unrest: It Will Get A Lot Worse

You are already seeing social unrest in many countries and its going to be a lot worse, I assure you.

The Gold In Fort Knox

There has not been a proper audit of America`s gold in decades, many, many decades, if ever for that matter.

I mean, they did something in the early 1950`s, a few guys just went over there and said, "Oh, yeah. This is Fort Knox." So, I don`t know if its there but I do know that everybody else in the world wether its an hospital, or an university or a charity, anybody is audited every year except the gold in Fort Knox.

Liquidity Flowing Into Stock Markets

You`ve got this staggering artificial sea of liquidity and we are all floating around. It is going into stocks, not just the american stock market but to others stock markets as well, the japanese stock market, et cetera.

Gold`s Correction: India Is One Of The Reasons

India, which is the largest buyer of gold in the world, or has been, has a gigantic balance of trade problem and the indian politicians are blaming it on gold.

Gold`s Peculiar Rise And Correction

Gold went up for 12 years in a row. I have never seen any asset in history go up 12 years without a down year. There may be some, I just don`t know about it.

So gold had a peculiar rise, so I would suspect that the correction, which we are in now and have been for many months, will be an anomaly as well.

U.S. Debt And The Lessons Of History

I keep going back to what happened throughout history. If you do not understand history you are going to suffer. And throughout history every country that has gotten itself into this kind of situation had problems and they have not gotten out of the situation without a crisis or a semi-crisis.

Street Smarts: People Keep Telling Me It`s My Best Book

My publisher kept saying, "Why don`t you pull it all together? How you came from the backwoods of Alabama to live in Singapore with two little girls that speak perfect mandarin? That has to be a lot that happened in the meantime, why don`t you tell it, and the lessons that you have learned, the mistakes you have made, and maybe its a good story."

To my astonishment, people keep telling me its my best book. I am amazed.

The Fed`s Dangerous Game

When they eventually say, "we are going to start to cutback now", the markets are going to go down fairly substantially. It is going to scare the bureaucrats. These are people that are just government employees and they are going to be scared to death and so they are going to start printing again until finally the market says, "We are not going to take this garbage paper anymore, we do not like this game anymore", and then the market is going to force these guys to stop and that is going to be called a crisis.

Periodic Crashes

We always had crashes through out history. Every country in the world has periodic crashes, I don`t think they have disappeared. I don`t know, I don`t have a clue of when it is going to happen again.

I Cannot See A Crash Anytime Soon

Right now we have all these people printing so much money. So, I cannot see a crash anytime soon. I can see corrections, I can see the markets going down a bit and for a while but with all the money printing everywhere in the world and no constraints on Congress now, Congress gets free to spend as much as they want to...They have moved the debt ceiling, they are afraid to do anything about it.

So, with all the money printing and all the spending everywhere in the world, this could go on for a while.

The U.S. Would Be Better Off Without A Central Bank

Countries without central banks can have problems too, don`t get me wrong. It`s just that this central bank (the Federal Reserve) is going to make our problems worse in the end. We would be better off without a central bank, than this central bank, even with the problems of no central bank.

50 Or 60 Years of Excesses in America

We are just making the situation worse. the debt is going higher and higher, the money printing is going higher and higher. We have had 50 or 60 years of excesses in America. You have to pay the price someday, wether we like it or not. The longer you delay the day of reckoning, the worse the day of reckoning is going to be.

The Way The System Works

It`s pretty simple. The way the world has worked for a few thousand years is, when people get into trouble, they fail, competent people come along, reorganize the assets and start over.

In America and in the West, what they said was, "No, no. We are going to let the incompetent people take over the assets from the competent people and then let them compete with the competent people." The japanese tried this in the early nineties, the japanese had two lot decades. It is not going to work. In Scandinavia, in the early nineties let people go bankrupt, they had a horrible two or three years but since they they grown dramatically over the past 15 or 20 years.

The way the system works is, when you fail, you fail and you start over. In America we do not do that anymore and we are kicking the can down the road.

Singapore: Everything Works

Singapore is about as Asian as you can get. It is certainly a very developed country, it is an astonishing success story over the past 40 years. Everything works, it has great healthcare, great education. I am extremely happy living in Singapore. My kids love it, my wife loves it. We are very keen on Singapore.

The Chinese Are Becoming More Capitalist

The chinese are becoming more and more capitalist. It`s very interesting that they said the markets are going to be the final arbitrageur, not the bureaucrats, not the government or anything else. In America, its exactly the opposite. The government says when there is a problem, "We will decide". Look at Obamacare. The government says, "We will figure out the solution." In China they say, "We will let the free markets, the open market decide." I much prefer the chinese system of more free markets than ours with the government dictating everything.

Bitcoins: I Don`t Understand Them

I don`t understand bitcoins. I have never really tried to figure it out or get into it. Every time somebody brings it up, I just sort of lose interest.

The Gold Standard Never Works For Long

People have tried the gold standard many times. It has always in the end been abused by politicians. They cheat the public, they start cutting back on it, they abandon the gold standard. It might work for a while, but nothing has ever lasted forever. So we can try the gold standard but it will not work. It has never worked before for any long period of time.

Gold: The Role Of India

I think there will be a better chance to buy gold later. I own gold, I have not sold and I am not selling any of my gold. I hedge some of my gold. I think there will be a better chance to buy.

The indians who are the largest buyers, or have been the largest buyers of gold in the world, indian politicians are doing their best to stop indians from buying gold. They have been very successful in the last few months.

Worse than that. The indian politicians are now trying to make indians sell their gold. many of the indian temples over the last few centuries have built up huge stock piles of gold. Now the politicians want them to sell it. If those indian temples start selling gold, who knows how low will it go.

When The Liquidity Dries Up, Be Very Careful

The world is floating on an artificial ocean or an artificial lake of lots and lots of printed money. Now, while this is going on, everybody is very happy, we are all having a wonderful time, at least the people who are getting it and their friends. But when that lake starts drying up, you better be very worried and very careful because its going to dry up and a lot of us are going to dry up too.

The Main Thing To Watch: Central Banks

The main thing you need to watch for is what is happening with central banks because for the first time in recorded history, we have all major central banks and governments around the world printing huge amounts of money. This has never happened.