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the doll is going to go higher as the turmoil increases worldwide and as the dollar goes higher gold and silver will probably continue under pressure at some point the dollar will get overvalued may turn into a bubble I will have to sell my US dollars and I will put my money into going to her or maybe the renminbi the Chinese currency which by then should be convertible the most significant results encountered for this Canadian mining region in over a decade with a canadian mining hall of fame legend at the helm for more discovery statistically than a thousand geologists combined this is the one hard assets doctor research right now learn more at crush the street calm / hard asset hello everyone and welcome in to crush the street calm i'm here with jim rogers he's a legendary investor he's a well renowned speaker and he holds multiple World Records he's an author of multiple books and today we're going to get an economic and geopolitical update with the man himself Jim Rogers thanks for joining me today I'm delighted to be here so I was like fun well you know that's been a real crazy 2015 and I just wanted to start off with this a couple weeks ago President Obama mocked Republicans saying they are down on America that was his his words towards them I he quoted things like the job growth rate is at levels we haven't seen since the 90s more Americans are covered with health insurance which are hitting record highs and he points out that the doom and gloom predictions of his political enemies look ever more at odds with reality sir I just wanted to talk with this does he have a point or are is he missing something very large well first of all Americans now the largest debtor nation in the history of the world so if you give me a few trillion dollars i'll show you a very good time but in the end somebody's gotta pay for it and while yes some people are better off these days and they were last year the year before most of us are not how many people are not should say and it's all being done it's a gigantic coast of printing money and gigantic get this is fun for some people right now but this is going to be a disaster in the end when it comes to we had a presidential debate tonight and everyone's wondering what's going on in 2016 do you see and you concern yourself with who the next president is and you think he'll be he or she will make a difference with the trajectory of the US economy well whoever is president their friends will be better off there's no question about that but most of us are not going to be better off unless we happen to be friends with the right people know that that's going to go higher the absurd intervention the worldwide is going higher the absurd intervention domestically is going higher so no no no III don't think it matters very much at all but never has it hasn't I mean for instance I thought George Bush would be would go down in history as the worst president in American history Along Came Obama I think I you know who's even worse while I was amazing to think that there's another potential Bush lined up to be present although I don't think he's got much of a chance I think he's better off hanging out at Disney World in Florida but when it comes also another potential Clinton it should be present you know exactly did worse and worse Lee obeys we got rid of these guys and found somebody new to make mistakes now we're finding the same old people Jim this question is specific to you because you live in Asia and I wanted to talk to you about the Chinese stock market the specifically the shanghai composite which saw a peak this year and has fallen roughly forty percent off a tie and has rebounded from that point now it's actually worth noting that this stock market is actually still up when you look at the beginning of the year to where we are now we're actually up pretty substantially even with that forty percent correction but i wanted to get your prognosis on this and ask you I mean is this the beginning of a bear market are we seeing the volatility start to enter this stock market and are we going to see further down trends from here or are we going to continue to see an upward trajectory in the Chinese economy it had a correction but the Shanghai Stock Exchange's it's not strongly stock market in the world is she is up almost fifty percent American Stock Exchange's you had the New York Stock Exchange's of four percent well I own I think my chinese shares probably my largest stock holding who knows what's going to happen in the future but I i bought more shares in China last week I don't I'm worried about the world I'm extremely worried about the world going forward and that's going to affect everybody including China obviously anybody in China who does business with the West is going to feel the effects but many parts of the Chinese economy are going to continue to bloom no matter what happens in the West I mean China's spending staggering amounts of money cleaning up the field china is very polluted terribly polluted and they're spending money with lots of money to clean up China so some parts of the Chinese economy will bloom no matter what happens to the world gym when it comes to the Asian perception of the u.s.
we've had the issues it's not that long ago with the ships over in the South China Sea what from your perspective actually being in Asia maybe it's different in Singapore than it is in China and some other parts but what is the perspective from people what do people and their perception of the u.s. what is the perception of the US over in Asia well people love in Asia love Americans American people and they very keen many of them are keen to go to school in the US or visit the US or even immigrated to the US many of them worry about the US government I do too if something seems to happen to people when they when they go to Washington they seem to change to become different but no most people in Asia are keen on on US citizens and and want to visit and emigrate or study in the US by the way I don't agree with them about us education but doesn't matter America's on a fabulous job of convincing people that us edgy and so many people want to go there and study you knowing the other way obviously I know China I know Asian education is better than certainly is certainly better than a u.s.
education but the perception here is it let's all go to the US yeah i mean that's very true i have a family member who went to a private school who predominantly catered to foreign students they send their kids across the country and they don't even live together and and that's just high school and then you have colleges where you know they kids come and they have their very wealthy families who just pay for all their stuff because they want to be here to get their education and what's really blowing me away is the amount of specifically Chinese that come to California there's certain areas in California where they come and they buy cash homes out cash as investments because they want to park their money in the US for I guess they believe it's some sort of safe haven what why are we seeing this this perception of these people come to America why they resulting to put their money in America well it's mainly historic more than anything else I own more US dollars on the long side than any other currency at the moment for that exact reason there is turmoil coming and many people still perceive the US dollar and the u.s.
it is not a safe haven the dollar is certainly not to say babe but it's perceived that way so when the turmoil and as you may know the US dollars making new highs this week because of this perception and as the terminal gets worse my theory is people more people by the US dollar to go higher and higher they're not going to buy the end they're not going to buy the euro I don't know what else to do with it so they're going to buy buy US dollars in lot that's the same reason that some people are diversifying into the u.s.
in my view everybody including Americans should have international diversification and the u.s. is a home at the moment sessional diversification by the way Americans should have international diversification too but that's why you see the chinese and not just the chinese all many asians pouring into the u.s.
i think they're going the wrong place but that's it unless that's who cares it's none of my business it's a long time right for for that person to actually change and I guess that's something investors need to consider when they put their money in a certain place and I think that's something you have and you've accurately done because I think in our last interview you said the same thing that your largest cash holdings is US dollars and obviously that's done well for you regardless of the macroeconomic situation which would probably suggest not to be in US dollars which actually leads me into my next topic I just want to get your thoughts on precious metals October September kind of seemed like this really optimistic time for for precious metals and we saw mining companies start to really take off and it almost felt as if this was the moment where we were going to see that turn around in your experience and just with your experience in markets what what did we just see here with precious metals making a run and then just kind of falling back to that bear market sentiment well what we saw is what happens in markets all the time you know rally a fault rally I own gold and silver I've had some of it but I'm both going to for a long time I still expect better opportunities in the future to buy gold and silver gold and silver may well turn into a bubble someday but in the meantime I expect there to be better opportunities my view of what's going to happen is as you explained before about the US dollar and US market property and other things in the eyes of foreigners the doll is going to go higher is the turmoil increases worldwide and as the dollar goes higher gold and silver will probably continue under pressure they often have historically not always not always i hasten to tell you not always but golden still be under pressure at some point the dollar will get over values may turn into a bubble I will have to sell my US dollars at that point chances are it goes until our down which is possible then I will put my money into going to or maybe the renminbi the Chinese currency which by then should be convertible so that this is the way I'm viewing the world at the moment but I hasten to tell you know my views could change this afternoon yeah no no I really would Jim I I wanted after you get your thoughts on well I I don't know where you stand on this and they do you believe that the US is provoking war and there's an intent to maintain its position as the world reserve currency and there's this military industrial complex behind the motives for the conflicts that are going on in the Middle East and even in areas like Asia what are your thoughts on that well I don't know that is that there's some kind of giant conspiracy and in Washington but I do know that they are we I should say we are provoking war there's no question i mean it's astonishing what we did in ukraine unfortunately we got outsmarted then it's astonishing work done in iraq and syria especially Syria now you know where we're being outsmarted again we started the whole thing in Syria we started the whole thing in Ukraine and then we have egg on our face I don't know what happens in Washington why people think they can throw their weight around think both historically Chinese territory now if the Chinese or anybody Russians started sending boats up to New Orleans or near New Orleans or mobile can you imagine the shrieking or Los Angeles Chinese or Russian both started so it's sailing from Los Angeles to San Francisco it would be my it would be mayhem it would behave worse I'm sure they'd be bombed it would be chaos everywhere so but we're doing that we're we're quote sending all these things into Asia to Korea and Australia we now we're opening a military base in Australia all lame to China if China started doing that or Russia if anybody started doing that oh my goodness so yes there certainly is some kind of there are people who accuse them of America being warlike and aggressive and recent evidence certainly shows that that might be true i mean you know what happens in Iraq we went we invaded a country based on false information with the false propaganda this has happened several times in the last couple of decades which is scary yeah and so kind of going back to the perception in Asia do asian see Americans as a threat when they see the American flag and the the troops there are they scared or do they feel safe that you know Americans are there with their bases and policing the world well more and more Asian certainly I mean you must read them maybe don't give it but there are certainly many asians now say wait a minute this is not what we thought was going to happen that the Chinese even some of the South Koreans or South Korea's now say we wish the American base bases weren't here nummies many many Asian countries Malaysia Indonesia or worried because you know they want to be friends with China they also want to have prosperity which they have been having for the past several decades the last thing they want to do is get sucked into some kind of military confrontation much less military tension Jim I I know you tour speaking do you have any speaking speaking engagements coming up I'll be in Mexico next week as a matter of fact can kill have got several in China in the next month yeah I got a lot of my plate for the rest of this year mainly I said I'm going to cancun going to moscow tonight for some TV shows and the board meeting several in china it's a busy year still okay well that sounds good and in just a brief moment you could you share your general message that you are you're sharing in these different areas of the world well mainly I'm worried you know it's been six and a half years since the bull market started in the US and therefore most of the world and that's unusual every four to seven years throughout American history we've had setbacks and consolidations or something economic problems so we're overdue it's all based on staggering amounts of money printing and debt not just in u.s.
worldwide so I'm very cautious I'm worried we could I mean the central banks are not giving up the central banks are continuing to panic and put more money into the system so it could turn into you know the side market could turn into a bubble before it's over but I'm very cautious and I'm not really rushing out to buy a lot of things at the moment I did buy some more China recently even China's now going up a lot as I said before supper nearly fifty percent this year I might buy more Russia but they're not many things that are really depressed at the moment and I don't like buying things making new highs are going through the roof if people wanted to follow you Jim and stay up to speed with your books and your speaking arrangements where would they go and you know how would they be able to reach out to you well I have the Jim Rogers calm is my was my website am i speaking a point much today are my speaking my public appearances our own Jim Rogers calm they can buy books anyway I have to run it by my books but I don't really I don't have a website I mean I don't have a blog I don't have a twitter account I don't have a facebook account I'm afraid I'm not very uh I'm not very social media active but at their but there is the website which gives my schedule and and Portia unfortunately a lot of my speeches and appearance that do get reported so they wind up on YouTube and in Google hey well we'll do our best over here to make sure this interview gets as much coverage as possible I really do appreciate you coming on with me today and sharing your thoughts good it's been fun let's do it again
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