Jim Rogers – Civil Unrest Possible in Europe, Bankruptcy Preferred

Jim Rogers (Rogers Holdings) tells Lauren Lyster of Capital Account that civil unrest is a possible outcome of the debt mess in Europe according to a review of history.

Rogers thinks bankruptcy/default is an option for European banks and sovereigns and it might follow across The Pond to the U.S. 

He acknowledges that economies around the world are slowing but seems to suggest that China is doing so intentionally. 

The downtrend in gold is “normal” following an 11-year run higher.  India ‘talking’ about banning the purchase of gold (coins) which, if adopted, might pressure gold lower, but if it does he’d be a buyer. 

At about 15:40 in the interview listen to what Rogers says about inflation and the Federal Reserve, which includes, “The government is lying about inflation,” and “The Fed will destroy itself – they keep making such absurd decisions down there; they are going to put themselves out of business.” 

Rogers says he holds U.S. dollars right now, not because they are a safe haven, but because that’s where everyone is running in a storm, as politicians keep digging us into ever deeper holes.

 

Resist the urge to drink hemlock or slit a wrist after listening.  It’s mainly good for gold and silver, we think.   

Source:  RT and Capital Account via YouTube
http://www.youtube.com/watch?feature=player_detailpage&v=v6afxJDBoy4