Jim Rogers Explains To Bob "Not a Cheerleader" Pisani Why He Is Short Stocks, Long Commodities, And Wants Europe To Fail

Jim Rogers was on CNBC earlier, discussing the recent intervention by the SNB and the overnight plunge in Europe, in the process generating yet another amusing episode of market "non-cheerleader" Bob Pisani attempting spin the global economic collapse in a favorable light on not one, not two but on three separate occasions, and being soundly rejected by the far more, informed shall we say, Rogers. Specifically, to Pisani's repeated attempt to get Rogers to admit the uber-secret of which stocks he is long (CNBC Ponzi playbook 101), the former Quantumanite responds that not only is he not long anything, he is mostly short stocks and very much long commodities for two simpler reasons: "if the world economy gets better i'm going to make money in commodities because of shortages that are developing. Especially in agriculture and precious metals. If the world economy doesn't get better, Bob, you're not going to make any money in Toyota or IBM but you might make money in commodities because they're going to print more money. It's the wrong thing to do but they will print money. Bernanke is already printing money again. You have to protect yourself. I'm short stocks but i don't expect the world economy to get better. Not much better anyway, if it does and I am long commodities as a protection." And on some other topic like the Chairsatan, "Bernanke has been lying to us again", on the SNB intervention attempt: "This is a terrible mistake" and on what should happen to Europe: " It would be good for the world, though, if they let people go bankrupt."





This is the REAL DEAL

Posted by: Phoenix Capital...

Post date: 09/09/2011 - 13:47

We’re heading into the END GAME for the markets. What’s coming will see debt defaults in Europe and the US, a stock market Crash that makes 2008 look like a picnic, civil unrest and more. 

 

 

 

 

 

Sky's the limit for precious metals now, Sprott tells King World News

 

Sprott - silver is a 30 bagger from here

silvergoldsilver at silvergoldsilver - 3 hours ago

From KWN: “I think silver will outperform gold in the next decade. If silver should trade at a 16 to 1 ratio (to gold), it will probably trade at 10 to 1 because things tend to overshoot. Let’s use Jim Sinclair’s $12,000 target, that would suggest $1,200 silver, which is a thirty bagger from here...The biggest reason it (silver) should go there is people should fear bank deposits, that’s what I think they should fear.” Click here to read... And enjoy Jim Rogers below. 



 

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Hard currency goes soft in a flash; and Faber disputes Krugman

 

 

Dan Norcini: Central banks waging war on gold

Key Upcoming Dates In The European Denouement, And A Complete Eurozone Cheatsheet

For those struggling under the deluge of relentless newsflow out of Europe, here are the key events to look for over the next month, courtesy of CitiFX Wire. Readers can take advantage of the weekend which will be calm until late Sunday morning after which it won't be calm, to familiarize themselves with the hurricane that is headed straight to global capital markets.

Credit Underperforms As ES Misses VWAP Target Into Close

The algo-driven levitation of the last hour or so today seemed all about making it back to the magical VWAP line so more selling could occur but even though we were rising, average trade size  rose notably into the cash close which is very suggestive of pros selling into the lift (as deltas were definitely weak). This little burst was enough to drag equity into outperformance today relative to credit markets which had a very weak day.

On The Usefulness Of Operation Twist, Straight From The Chairman's Mouth

We are surprised to find that there are still those who are naively on the fence about the functionality and efficacy of the upcoming, and if Wall Street is correct, imminent (less than two weeks now) Operation Twist. There is absolutely no reason for such confusion. After all none other than the Chairman himself, in collaboration with Vince Reinhart of Treasury put fame and Brian Sack, of Plunge Protection Team fame, described precisely what we can expect out of the second coming of Chubby Checker...

Guest Post: Gold Stocks Prognosis: Catalyst, Please

It’s probably the #1 question on every gold investor’s mind right now: Why are gold stocks underperforming gold? Aren’t they supposed to bring us leverage to the gold price? Yes, they are, and their performance been both disappointing and puzzling. There are some exceptions, to be sure, but in the majority of cases the stocks are lagging the metal. And it’s been happening for most of the year. What’s going on? I think part of the answer lies in the state of our current environment. Recent headlines and developments around the globe have ratcheted up fear… from the S&P’s downgrade to European bank solvency, from fears of another recession to worse-than-expected unemployment. The nervous climate has pushed investors toward gold for safety, simultaneously reducing the demand for gold equities. The investment implications here are twofold. First, if I’m right, then the strategy should be to buy when shares are relatively cheap and hold for the duration of the bull market. You may think we’d suffer “opportunity loss” if we have to wait too long, but that could be a dangerous game; you could buy after they take off and miss out on some of the easier gains. Further, I don’t know of another sector that is both cheap and imminently poised to break out. The second implication is that corrections wouldn’t be a time to get out, but a time to consider getting in. The ultimate prognosis, in my opinion, is that gold stocks are headed much higher. Sooner or later a catalyst will ignite interest in our sector, and the rush will be on. Now is the time to build positions in the stocks you want to own.




Obama: Gut Social Security Now, Don't Wait Till The Election

Posted by: testosteronepit

Post date: 09/09/2011 - 20:21

Incredible that a Democrat would propose that our Social Security system should be gutted starting immediately to get an up-tick in GDP, illusory as it may turn out to be, just before the election...

Here Comes The Non-Boring Weekend: G7 Says "Central Banks Ready To Provide Liquidity As Required"

The G-7 is in full panic mode. The organization for the prevention of harm to the Status Quo was expected to release a communique possibly over the weekend, but the speed with which one was dropped for mass circulation is stunning and confirms that its members are in full meltdown as the weekend comes. It is now certain that the G-7 will attempt some major intervention over the next 48 hours to inject a last dose of hope into capital markets, or else the Monday open will be an epic collapse.

In The News Today

September 9, 2011, at 1:19 pm
by Jim Sinclair in the category In The News |  Print This Post |  Email This Post

Jim Sinclair’s Commentary

The following is courtesy of CIGA Las Sequeira

Central bank flight to Federal Reserve safety tops Lehman crisis
A key warning signal of global financial stress has shot above the extreme levels seen at the height of the Lehman crisis in 2008. By Ambrose Evans-Pritchard
8:31PM BST 01 Sep 2011
Central banks and official bodies have parked record sums of dollars at the US Federal Reserve for safe-keeping, indicating a clear loss of trust in commercial banks.
Data from the St Louis Fed shows that reserve funds from "official foreign accounts" have doubled since the start of the year, with a dramatic surge since the end of July when the eurozone debt crisis spread to Italy and Spain.
"This shows a pervasive loss of confidence in the European banking system," said Simon Ward from Henderson Global Investors. "Central banks are worried about the security of their deposits so they are placing the money with the Fed."
These dollar accounts are just over $100bn (£62bn) and are small beer compared to the vast sums invested in bonds as foreign reserve holdings. Yet they serve as stress indicator, reflecting the operating decisions of the world’s top insiders.
The dollar data refers specifically to reverse repurchase agreements.

More…





Harvey Organ Friday 9-10-11 
Harvey posts Friday report on Saturday mornings.

Sunoco to Quit Oil Refining Business.








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