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Jim Rogers Endorses Ron Paul!

Investors around the world know and respect Jim Rogers as a smart, successful, maverick investor. He was an original partner with George Soros - they founded the Quantum fund together. In the late 1990's, he turned bullish on commodities - notably gold, and predicted the beginning of a great bull market in commodities in his best selling, Hot Commodities.

Jim recently endorsed Ron Paul in a video interview with the Financial Times. In this excellent interview on the Financial Times website, he says that Ron Paul "is the only one I've seen in American politics that seems to have a clue with what's going on in the world..."

The whole interview is well worth your time - he begins by talking about the future direction of the US dollar - but his endorsement of Ron Paul comes at around the 4:45 mark. Unfortunately, emphasizing his reputation as an early adopter / maverick / contrarian, Jim goes on to say, "If I'm supporting him, there is no way he is going to win..." :-( This is not as bad as it sounds, since he has a reputation in the investment community of being unconventional and also right! So having Rogers put Ron Paul's name out there is huge!




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Rogers on the dollar, Ben Bernanke, and US economy



transcription of FT video as posted on my blog http://adam--selene.livejournal.com

I'm the first person to transcribe this video, as far as I know. Feel free to redistribute its contents (with attribution to the Financial Times)



Jim Rogers on the dollar, Ben Bernanke, and US economy

FT: You said you're selling US assets. So what makes you so bearish on the dollar?

Jim Rogers: Well the US dollar is a terribly flawed currency. As recently as 1987 the United States was a creditor nation. We're now the largest debtor nation the world has ever seen in only twenty years. We owe the rest of the world over thirteen trillion with a "T" US dollars. That's a bad number, but what's worse is our foreign debts are increasing at a rate of one trillion dollars every 15 months. It's simple arithmetic at how fast it's going to go up, but its pretty terrifying arithmetic. I don't want to own a currency which is being debased that way. The central bank in America has said that they're going to print as many dollars has they have to drive down the value of the currency. The secretary of the treasury is trying to drive down the value of the currency. I mean it doesn't take a genius to figure out that it's a currency that's going to be going down for some time to come. They want to debase the currency. The head of the central bank has been printing money since he got there for two years. He's printing money very rapidly now, especially since this summer. This is a man who his whole intellectual career has been spent studying the printing of money. Now America is giving the printing presses. I don't want to be in a currency like that.



FT: So what's your assessment of Bernanke's performance so far?

Jim Rogers: Well it's been a disaster.

Did I make myself clear? He's been a disaster. I mean he's been printing much too much money, since the beginning. Last summer he bailed out his friends on Wall Street, said there was some kind of problem. I mean the stock market was down 6%. If a 6% decline in the stock market causes the man to go and cut interest rates by a half a percent, when inflation is running rampant, when the dollar is under pressure anyway, what's he going to do when the market is down 36%? What's he going to do when they have a real crisis? I mean he's going to print money until we run out of trees! I don't want to own US dollars in an environment like that. I don't know why you would. I don't know why anybody would.



FT: So is the US already in a recession?

Jim Rogers: In my view yes. We know that housing is in worse than recession. We know that automobiles are in worse than recession. We know that many parts of the financial community are in worse than recession. We know that machinery — Caterpillar Tractor, one of the largest machinery companies in the world, has said it's the worse they've seen in 50 years. There are a lot of sectors of the American economy that are in serious trouble, shall we say. The government says it's not a recession. I'd like to know from them, what's keeping it up, that if all these other sectors — and you know housing and automobiles are two of the very largest sectors — what is not in recession? Retail sales are down; I could go on and on.



FT: So what's next? What do you think is coming?

Jim Rogers: Well for the dollar? Well probably the dollar is going to have a big rally about now, because everybody in the world is short the dollar. In my experience in the investment markets, when everyone is on one side of the boat, you'd better think about going to the other side of the boat for a while. I suspect there'll be a rally; I have no idea what will cause it. And if there's a rally, for a few weeks, a few months, I would urge you to sell that rally — that's my plan — to get the rest of my money out of US dollars.



FT: You've actually been bearish on the dollar for more than a decade. So why are getting headlines now? Is it to do with promoting your new book?

Jim Rogers: I didn't know I wasn't getting headlines, you called me, I didn't call you. The dollar has been steadily going down, as you know, for several years. It's not been a wonderful place to be. I have no idea. Maybe it's because now the dollar's starting to crescendo a little bit more. And actually now that I think about — I don't think it has anything to do with me — as you probably know, the dollar has never gone below 80 as an index, which is a federal government report; it's never gone below 80 in the history of the world. Until the last two or three months, when Bernanke started printing all this money and cutting interest rates; in a terribly inflationary environment he was cutting interest rates. It's broken below that level, so it's now going to the lowest level in history. So maybe that's why more and more people are starting to pay attention to the dollar.



FT: You're known for being apolitical. Are you backing anyone in the next year's US presidential election?

Jim Rogers: Well, yes. A pox on both of their houses, as far as I'm concerned; the Democrats and the Republicans. I rarely if ever pay much attention — I always vote – but I don't pay too much attention to them, because I know they're pretty hopeless. However in this election, if Ron Paul gets anywhere near the nomination, I will certainly support him. I mean he's the only one I've seen in American politics that seems to have a clue about what's going on in the world.



FT: Will he win?

Jim Rogers: If I'm backing him, there's no way, no way I assure you. Poor Ron.

I was waitng for this!

I've been waiting for this for sometime. If you're a Jim Rogers fan then you know what I mean. If his recent interviews on Bloomberg, and others, were any indication then like me you knew this was coming.

I've read all of Jim Rogers books and I'm living the dream with him. Way to go Jim! For me this endorsement is more important than any Hollywood crackhead.

Jim Rogers would make the perfect VP for Dr.Paul--Jim Rogers for VP!

Two Things!!

First... The Campaign should USE JIM RODGERS at an event... TO TALK ABOUT THE DOLLARS DECLINE AND WHAT IT MEANS TO US!!

Then Ron Paul can outline a plan to SAVE THE BUCK!!

Second- I am OPENING A FOREX ACCT. AND SHORTING THE BUCK INTO THE NEXT RALLY OVER THE MOVING AVG!!!!

Peace

As a member of the financial

As a member of the financial community, I cannot stress the importance of this endorsement enough ---- we need to spread this video, and campaign staffers should contact Mr. Rogers ASAP.

Hilarious columbia business school clip bashing bernankey

Hilarious columbia business school clip bashing bernankey

http://www.youtube.com/watch?v=3u2qRXb4xCU

FReeper reaction to this endorsement

I posted a thread about this on FreeRepublic. For whatever reason, the forum moderator decided to change the title of my thread. Then, an endless barrage of mindless non sequiturs was hurled my way. Oh well, we've got some work to do. I will try to be more tactful next time. But we're still making headway. I actually had one guy send me an e-mail saying how disgusted he was with what the forum had turned into and that he agreed with us.

http://www.freerepublic.com/focus/f-news/1917994/posts

Only the acceptance of the truth can defeat systemic evil.
-----
http://www.statenullification.com

Well

It seems as if FreeRepublic is neither free, nor much of a republic.

visit fdassault.com

Anyone can get videostream from ft site and put it on youtube?

Because it doesn't cache locally if you have bad internet connection it's hard to watch this video.

I've send a post with interview with him on Bloomberg

few weeks ago, when he was talking about how fed is irrational and "nobody cares about FED" (http://dailypaul.com/node/2354) so this "endorsement" hasn't been as good as some would see it.

I guess he can kiss the Fox News appearances

Goodbye! :) But it's still good to see we're getting endorsements.

IMO Dr. Paul should go to South Carolina and publicly beg Colbert to mess only with the Democrats' primary! It might be a waste of a day, but it might get him another appearance on Colbert's show, which would be priceless.
JMR

Colbert isn't going to steal

Colbert isn't going to steal any votes away from Ron Paul in SC. Any Paul supporter knows how important each vote is for Ron, so they certainly wouldn't do something stupid like wasting it on Colbert, who's candidacy is completely bogus.

And anyone who doesn't yet know about Ron should realize that Colbert's candidacy is satirical and is intended not only to get him ratings, but to bring awareness to the political process for people who might otherwise not care. In doing so, he's mocking the establishment and hopefully any interest he generates in the Presidential campaign will eventually lead those potential voters to Ron's campaign. If not, they wouldn't have voted for him anyway, so it's a moot point.

If nothing else, maybe Colbert will be able to steal away votes from the "front runners", which helps Ron indirectly.

I wouldn't be so sure...

IMO Colbert should be treated with a lot of respect. It seems that getting on his show did Dr. Paul a lot of good, so ANY chance of another appearance is something they shouldn't pass-up, and a Colbert candidacy is a chance. if we can get him saying something like "all my Republican supporters should vote for Dr. Ron Paul" then it will make major inroads for us nationwide, not just in South Carolina.
JMR

right on

Excellent observation. I emailed Jim Rogers once after a Fox appearance, and he had the graciousness to email back. In the grand scheme of things, Jim Rogers really is on the men you want on your side!

Jim Rogers for Treasury Secretary! :-)

Must see

Wonderful video, Ron Paul our last best chance for the Republic.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Nice Endorsement

It's always nice to see someone who seems really smart talk so highly about Ron Paul. It balances out the people on the fringe who the media likes to bring attention to.

Tim Maitski
Atlanta real estate agent
Atlanta real estate website

Great endorsement

I love his candor.

Kent

I have read this guy's book

I have read this guy's book before. He really knows his stuff on investing, and world economics. I am not surprised one bit that he is a Ron Paul supporter.

"Its time for a new Revolution! Ron Paul 2008"

"You don't gain much by being angry. I see this more as an intellectual, philosophical fight than a political, personality fight." - Ron Paul

Woo

hoo!

Secretay of the Treasury

Ron Paul will need a lot of honest competent people working in his administration and Jim Rogers certainly qualifies.

jimt