4 votes

Jim Rogers: U.S. will certainly go through period of default

Jim Rogers: U.S. will certainly go through period of default:

http://etfdailynews.com/2012/07/02/jim-rogers-prediction-ame...

Excerpts:

There’s more than one way to default, you can print money, pay people off, pay them off with worthless currency. . . . And that’s going to happen in the US. You’re going to see institutions that we’ve known in the US for decades are going to disappear, or totally turned over. . . . You’re going to see more universities disappearing. Some of the Ivy League schools are essentially bankrupt, or we’ll find out that they’re bankrupt. So you’re going to have huge, huge turmoil, many museums, hospitals, art galleries, many things that we’ve known and loved, are going to be in serious trouble, disappear, and in the meantime you’ll have new companies, institutions rise.

Now, does that lead to war? It always has. America has been warlike as you know for the past many decades, several decades anyway. No doubt we’ll get into more wars and it’s not going to be fun. . . .

Governments are going to want more and more power, they blame the problems on financial types, they blame the problems on foreigners and they always close off more, putting more controls, eventually also blame it on journalists, because they’ll say, ‘if journalist didn’t write about these problems, we wouldn’t have these problems.’ It always happens that way. As I say, America has been already been fairly warlike in the past several decades, but it will get more so. Right now, as you know, the government, drifting for the last decade or two, are now going into our garages, our bank accounts, our bedrooms. They can do anything they want. Not only that, America can execute you, they murder you if they want to. The president has a secret committee, sit down and say, ‘we don’t like Sally Jones. We think she’s doing things wrong.’ They can execute you—murder you. And they don’t even have to go to a judge. They just do it. This is the law . It’s mind-boggling to those of us who grew up in the United States . . . This has all happened in the past decade, or so. It’s not what it used to be. It’s bordering on the war between the states. . . .