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trade Wars have always failed trade Wars have always led to bankruptcy and often to war throughout history very few people learned the lessons of History a new Silver company for investors with Keith newm agreeing to become a major shareholder Luke Norman co-founder of gold standard Ventures is the new chairman and the company's acquired three former first Majestic silver properties to learn more about this must own silver stock go to futuremoneytrends.com SLS silver1 that's futuremoneytrends.com SLS silver1 hello everyone and welcome in to crush thestreet.com we have a new president elect stocks are hitting new highs gold is pulling back and the dollar is hitting highs that it hasn't seen in more than a decade and to talk to us about all of this I have on the line Jim Rogers who's a legendary investor author chairman of Rogers Holdings and bean interests uh Jim Rogers thanks for coming on the show with me today oh I'm delighted to be here Kenneth sir as you've put eloquently in the past we are the most indebted nation in the history of the world the US that is and US markets seem to be very optimistic of a Donald Trump's Administration and for that matter uh gold is putting the brakes on and uh the fear trade is washing away is this surprising you well uh it's surprising to me that people are as enthusiastic as they are given that Mr Trump says he's going to start trade Wars but at the moment everybody seems to be focusing on the fact that he's going to cut taxes which is fabulous which is great for any economy and that he's going to build the infrastructure which America needs nobody seems to be focusing on the fact well wait a minute where's the money coming from first of all and second of all how are we going to do all this with trade Wars so maybe he's modified maybe he's not going to start these disastrous trade Wars maybe he's just going to do good things however Kenneth in the end somebody's going to have to say well wait a minute where are we getting the money sure maybe we can play this out for another year or two or who knows how long you know many people many people are seeing the trade War as a good thing in the sense that jobs will be staying in the country we just got news that carrier is not going to ship a th000 jobs over to Mexico they're going to keep that in the US is that is that positive or are these trade Wars overall a negative thing well trade Wars are negative until are positive until people start retaliating if you think that everybody's going to sit and say oh he just put 45% tariffs on us as he promised would do with the Chinese I don't think that people are going to S sit and say oh hit me again this is fun let's do more of this sure the retaliations will come that 1,000 jobs sounds great yes in the end of course it makes America less competitive and and we lose our our comparative advantage this that takes a long time however to work its way through sure trade Wars don't trade Wars hit you immediately if people retaliate well and we've been handicapping ourselves many years now with rules and regulations High minimum wage unions you know benefits to our you know the employees who work for these corporations and companies want to go elsewhere and it seems to be the only way to keep jobs within the country well of course it is you have to compete on a world stage carry yourselves air conditioners to a lot of places not just the us and if the US is a high cost place to produce them people are not going to buy Carrier Air Conditioners they may buy them in America but America is a fairly saturated and limited market yeah people don't understand the the consequences of messing with the free market and that's what we're seeing here we're seeing the consequences of implying and not being competitive and then trying to keep those jobs in the country artificially through these trade Wars well uh Mr Rogers let's talk about gold now for the last little while now people are very optimistic on the US market and Trump as we've just discussed and gold is going down how much downside do you see in Gold's future well I'm a terrible Market timer I'm a horrible short-term Trader I own gold I've hedged some of my go U I expect that if gold gets under one ,000 an ounce that I I hope I'm smart enough to buy a lot of gold because in the end this is all going to end in a a huge mess and a big bubble for gold my my price uh Kenneth to remove my hedges and buy a lot more gold is under 1,000 okay well you may not get there it may not get there Kenneth uh may not get there at all as I said I'm pretty bad at Market timing but if it does I expect to load up well one thing you've done very well at is you know and you've recorded you've been recorded saying this on this show is that US dollars is your largest cash position and sure enough the US dollar is stronger today than it's been in more than a decade and you know I know you've anticipated this how long does this go on for oh it's going to go on for a while the Dollar's going to get overpriced the dollar may even turn into a bubble that one of the reasons for the dollar strength is the turmoil which is exist in the world and which is going to get worse when people are afraid they look for a safe haven so as the turmoil gets worse the dollar will go higher it could even turn turn into a bubble Kenneth uh if the turmoil is bad enough well just like $1,000 was a a point that you would like to you know as a trigger point for your purchasing gold what do what is your trigger point going to be for the US dollar when is it going to start looking like a bubble to you when the dollar Index say hits A110 or 110 well 110 certainly doesn't sound like a bubble to me uh I mean who knows I'll just have to judge the the circumstances at the time you know you you will be able to read the newspapers and everybody will be talking about oh the Dollar's going to go up forever you'll see on TV that the dollar is the new is the new Promised Land uh people everybody will be pouring into Dollars the I try to judge these things by the mood of what's going on bubbles throughout history everywhere in the world and no matter what the asset always look and sound the same I'm hope I'm smart enough to recognize it well interestingly enough talking about instability the US interest payment on debt is less today than it was 10 years ago when the total debt was you know less than 50% of what it is now simply because interest rates were much higher and on that note do you see a repeat of what happened in 2016 when the FED raised interest rates of December of 2015 into January of 2016 happening again this year with the FED potentially raising interest rates and restarting this potential bubble going into the next year the bubble in in what in the US dollar yes of course well the you know the pop in the markets the volatility you know you remember what happened earlier this year some of the news coming out of China and uh that kind of was triggered many think it was because of the raising of the interest rates of course they're talking about doing that again here in December they will do it in December uh and it will cause the dollar to go higher uh it it may well cause bonds to rally for a while because people will say oh well now it's done they've raised interest rates twice and it's done and now we can look to better bigger and better things that's not the real what the real reality because they're going to raise interest rates more next year in the future or the market is if they don't but it it may cause a burst of enthusiasm for a while because everybody say the worse is behind it well I know you live in Singapore uh Mr Mr Rogers and I just want to get your International perspective on what is going on with the establishment the crumbling of the establishment obviously we saw Trump and Outsider come in and surprise the mainstream establishment and I I'd like to get your opinion on do you think that the mainstream establishment the elites are at risk of losing the control that they have on essentially the world well I hope so mainstream establishment or somebody has done a pretty bad job on the world right now we've got all kind of uh instabilities uh around the world lots of problems around the world the worry Kenneth is of course that if the mainstream establishment which has blown it it could be replaced by something worse yeah and then we're and we're in real serious trouble yeah over in Asia Mr Rogers do they see Trump as a racist bigot the way the mainstream media have painted him here in the US well many people here don't particularly like Trump but that's based on because they read the mainstream media their Medias like like ours they just repeat what the US and the UK say uh so the main view here is that you know now the US is pulling out a a withdrawing from Asia and that leaves a g gigantic opportunity for China which China is seizing you know the if Trump does what he says and apparently he is then that means that there's a gap there's a a vacuum and that China is moving into it quickly I don't like saying this is bad for for America but it's certainly a phenomenal opportunity for China which they are seizing almost immediately and you see many countries here already understand that the Philippines is moving away from the US other people are trying to figure out oh gosh how are we going to do the best for us which is now China uh Jim do you see Trump as someone who's going to antagonize other countries and potentially be a hote head which gets the us into the next War like the media has been saying he's gonna do he says he's going to antagonize other people I mean he's repeatedly sworn that he's going to antagonize other people I mean maybe he's a total liar maybe he's a fool U so when do I see it happening yeah I'll take the man at his word at least at the moment now that kind of thing especially when combined with trade Wars trade Wars have always failed trade Wars have always led to bankruptcy and often to war throughout history so I I don't particularly like the fact but the main problem Kenneth is that very the main lesson of history is that very few people learn the lessons of history and history shows repeatedly that trade Wars lead to bankruptcy and bankruptcy often leads to war now even the people who understand history sometimes think well I don't worry it's different this time I could control History Mr Trump certainly thinks he can control history uh the but the facts are that this is very very worrisome for the world over the next several years you should be very worried well that that's very fascinating analysis and very contrarian to the the ideas that many people voted for Trump for because you know the belief is hey let's bring these jobs back let's bring the money back into this country but you're saying trade Wars net negative for the us and not good for the long term so uh Jim Rogers thanks so much for coming on the show with me today my pleasure Kenneth anytime
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