Jim Rogers on CNBC Squawk Box 6/10/10 time to buy the Euro

[CUMBICA1970]

1:20 "I can't find anybody who's bullish on the euro, and that's usually a sign to move into the euro." Once again Jim got it!

[YiDog21]

dont get me wrong, i have the utmost respective for jim rogers, but if thats his philosophy on entering any kind of position, where only bears are present, i wonder if he feels the same for bp or the financial sector.

[kikrlbs]

I'm sure he's euro short term. When the dollar takes another huge dip the euro will rise. Short term, make that paper then make that paper gold and silver.

[Exposethefrauds]

I think Jim Rogers is a closet daytrader!

[throwerofturds]

@Exposethefrauds

 lol

[luomio]

the bank is jp morgan chase (JPM).

[louis12346]

Great then invest in BP , no one is buying ,invest in bow ties , Become a Farmer or Miner Eviros & Laws have made this impossible .

Untie hands of the People

[YaBaDji]

If youre as rich as Jim Rogers ill listen to your opinions if not just stfu ! ;)

[tbirdky]

I'm gobbling up Stanley nickels.

[stylezNsmilez]

What financial institution is he shorting ?

[dikkydoo1]

i challenge you to find an investor who knows what the fucks going on! even the best in the business inclusing marc faber, hugh hendry, jim rogers have no fucking clue! neither do i btw, absolutely no fucking clue whats going to happen.

[AntiPsychopath]

@dikkydoo1 I do! market tomorrow is going down, 5%

[dikkydoo1]

@AntiPsychopath put your money on it?

[thefullmonte2003]

fuck the dow jones and all this casino gambling bullshit. lets get back to small business and local shops and get away from this devilish nonsense. these rich cocksuckers do not give a damn about us at all and manipulate to make us stuggle using the stock market. why do you think gas, wheat, rice food goods fluculate in price all the time?????

[trinomialtree]

@thefullmonte2003

wow, you must be a rocket scientist. thanks for your great insights, 20 years behind the trend line.

[SluckyW]

Jim Rogers is usually right... remember 6-7 months ago and he was telling to buy the USD even if it is a terrible flawed currency ! Look where is the dollar now... it's time for the dollar to go down where it sould be

[prinshang]

I am an all time listener and half time follower.

[gooseCha]

wow dude is so honest it shocked me

[Austacker]

ALL fiat currency is rubbish.

Gold and Silver - or nothing.

[partyhouse88]

continue to sell the euro

[cpswyl2]

Britain is a continent??

[binky4647]

hey jim who is going to win the world cup?.

jim can you tell us what the weather is going to be like tomorrow.

I am sure he knows the answer to all things.

[TheBullionBull]

I think Jim will be proven right - he usually is.

[Juvebeck10]

He's shorting the shit out of WFC.

[imigrantpunk]

@Juvebeck10

how do you know? is it by the fact that it is just 20% short of 2007 highs? but JPM is also close. in terms of the biggest rally since the march lows is BAC, currently at 400%

[Portland581]

Maybe I should stay in the Mormon Church.

[l1xx3r]

I disagree with Jim... I think long term, he is most likely right, but its still a few months away to buy Euros... Also, this is only good advice for long term if you have USD, if you have CAD or ANY other currencies, I wouldn't think this is as good of advice...

[delatroy]

I agree generally with JIm's call on commodities but when governments and the market wake up to the fact that there's no recovery coming then this is bad for commodity demand in the short term.

[chuska8383]

Who is the cock-eyed corporatist sellout trying to sell another fleecing of the middle class for yet another failing sector of the economy?

[troybr79]

Hmmm...could you be anymore vague!!?? A 10-year old could've put a couple bumbled sentances together like this guy. "you should go into being a farmer or a miner"...WTF!?

[nsolcis]

what he means is he thinks the euro has hit at least a temporary bottom, I personally dont agree, but thats the thinking behind this

[doc7474]

Jim Rogers is a very smart man. I don't know about his timing on the Euro but I don't doubt his contrarian view on the Euro.

[florin604]

Don't get Jim Rogers wrong, if he buys euro's , he doesn't buy them long term. EUR may drop right now, but USD will short follow, and people will jump into EUR again, and after that in USD again and so on. These are 3-6 months cycles.In the end, not any of these currencies will survive.

If you want a sure bet, buy gold/silver and hang to it, or mining shares.

[RvNYC]

Jim is just playing the market. He'll make money as the Euro rises then dumps it before it falls too far. Make money. He said it here, you want to be in Commodities long term to preserve wealth. Keep money.

[vinny1010]

I wouldn't listen to Jim Rogers on these issues if I were you ..Don't even think about getting into Euros and get into mining shares now, it's a GREAT time!! Of course, you have to make sure you're investing in good companies, but mining companies are HOT right now esp due to low precious metal prices.

[93msinclair]

@vinny1010

You do however have to watch out for government regulations and taxes such as those we've just seen in australia which caused a number of mining companies to cancell their operations. The pure commodities are free of many of the complications associated with running a business and ealing with government interfierence.

[vinny1010]

@93msinclair To my knowledge that 40% tax was not placed in a bill and passed, they were just considering it. I know taxes will be high on mining companies, but if you get good ones, they won't have issues. Even on precious metals, I think taxes are going to be placed on those who hold them - I hold some but most of my funds are in mining companies. you do make a good point though. As the price of metals increase, it will be easy for those companies to make profits

[BamaKattt]

I'm 100% in Monopoly money, it's the only safe investment right now.

[BMWg84]

hahaha

[realkingkado]

buy dogshit its got more value than most paper money

[kikrlbs]

@realkingkado AHHHHHHHHHHHHHHHH!!!! LOL! RIGHT!

[charlesfuchs]

He was a good investor but he is getting things wrong. just buy silver and go to mexico.... lol

[GuildF40]

Hmmmm some odd statements made here.

NO ONE HERE IS BULLISH ON THE EURO & FOR DAM GOOD REASON !

China is trying to keep Gold down now ???? (I know that is true) But people are still buying it and that is a ~FACT !

[john5246]

@GuildF40

if you don't understand you should not be trading, and for your sake I hope you're not a trader

[GuildF40]

@john5246 So you understand what is going on (assuming you are a trader?)

[john5246]

@GuildF40

yes I am, no offense but these things are on CNBC and they're really meant for people actively trading in the market not for people looking for "gloom and doom" news or people just trying to be entertained. Jim is right as usual and the Euro could have a short burst up (which it already did actually)

[GuildF40]

@john5246 Hang on a sec I asked if you if you knew what was going on. I sent you a link in a PM. I'm not looking for gloom and doom lol I am taking the facts into account and the fact is every country in in debt up to its eye balls & re payment is not an option. Printing is a TOP option. I trust you are on the MEMO list from Soros about physical Gold/silver bullion :o)

[ForTehNguyen]

yet the people in europe are buying up gold so bad its selling out

[yakyakyak69]

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STOP Empire Building & Foreign Intervention with 650+ US military bases OCCUPYING over 135 nations PRODUCING hatred & jihad RESISTANCE!

Trade, NOT bribes/bombs Manipulation!

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DEMAND Constitutionally limited Gov't, Individual Liberty & Responsibility, Sound Money, FREE competition between FREE States & FREE people.

[GovWillKillU]

jim rogers is a good, honest man

[mrzack888]

@GovWillKillU dont kid y ourself. 

[Sanksion]

actuallym the ECB did one thing it was not allowed to by the Maastricht treaty, that is to buy junk state bonds and assets, i.e junk private bank loans. So, we do have a printing press in UE, but contrary to the USA, we don't have a military empire to sustain.

[1kings1918]

"Jim, I'm as confused as anyone else."

This is why a stable environment is so important. But governments have spent ours and our children's money, and having created a world wide recession that is providing less income/wealth to confiscate, is raising taxes on everyone. When everyone is hurting financially is a poor time to take even more of what they have. Jim knows governments will print money to steal wealth by dilution. Get commodities people. Gold,silver,etc.

[GovWillKillU]

@1kings1918 im starting to think the 'financial system' is just a huge arcane paradigm that exists only to take gold from the people.

[1kings1918]

@GovWillKillU

I'm not recommending anyone do anything illegal.......but I like how gold & silver don't have account & social security numbers tied to them.

[GuildF40]

@1kings1918

you are not alone lol

[Sanksion]

compared to gold, euro and dollar increased during the last week, but dollar increased twice much.

[GovWillKillU]

the ECB will need to devalue the currency another 30% or so at least; lets not fool ourselves. all that european debt must be balanced out and compensate for all the different micro economies in europe. they will probably over shoot, and after all is said and done the euro will be like the dollar was ... 1.5 to 1. remember; US has options that eurozone doesnt.. like creating money.

[GovWillKillU]

doesnt seem like its gone down all that much

[GovWillKillU]

he already owns euro's he took a huge hit on it, so of course he's gonna pump it. at least he's honest about the situation.

[davids11131113]

I never did buy this line that governments are printing trillions of dollars and hoping things get better, then shocked when they actually get worse and then 'only thing they know to do' is panic and print more money? Thats total BS. Keynes wasnt an economist he and his followers are financial terrorists.

[Sanksion]

I dont feel confident in contrarian strategies. I mean, if they are right : euro is doomed to be printed more and more in the next years, i should run away from that stuff even if I am still able to find thousands of contrarian would-be buyers. At some point, to be contrariant against reality is a worthless investment.

[Sanksion]

that's an investment advice ? As everyone seems to think that euro is a junk currency, you should buy it.

Euh.... there's a mistake somewhere.

[PeterSchiffChannel]

@Sanksion buy when everybody sells and sell when everybody buys...

[davids11131113]

@PeterSchiffChannel Yes but today 'everybody' buying or selling is the FED and a few HFT black boxes.

[ev06dre]

@PeterSchiffChannel If everyone did the right thing, everyone would be rich. Do the opposite of the masses and you should be OK lol

[deadman12078]

@ev06dre People have to start doing actual research when they invest. If your getting your "advise" from commercials and tv shows... you'll get just what you deserve.

Even if your paying a broker you should do some research. People really are sheep... "Glenn Beck said he buys all his gold from xxx and he has stock in AIG. It must be a good investment!"

[thefullmonte2003]

@PeterSchiffChannel so are you buying bp stock???

[Yeuxvert]

@Sanksion It's trading advice, not investing advice. People (especially in the media) often blur the difference.

[clint0nify]

@PeterSchiffChannel be greedy when everyone is fearful(start buying) and be fearful(start selling) when everyone is greedy

[trinomialtree]

@Sanksion

how about futures for ugly polka dot bowties?

[neogeno213]

@Sanksion that's because you don't understand how the forex market works. if everyone is holding a short on the euro... that means every single one of those people will eventually have to buy the euro... to cover their short.... and that wave of position closing will cause the price to surge.

[1971blinson]

@Sanksion he's talking about going short with the currency

[fr33voic3]

@Sanksion check out merk currency funds