www.bloomberg.com ( excerpted below ) -Aug. 6 (Bloomberg) - - U.S. proposals to place curbs on commodities trading will drive business overseas, particularly to Asia, said Jim Rogers- -It is remarkable because America is shooting itself in the foot again,â he said in an interview in Singapore today. âItâs going to drive the business away and the rest of the world is going to welcome it with open arms- -The three commodity exchanges in China are booming,â he said. âDalian trades more soybean contracts than Chicago does already, and thatâs with a blocked currency, a closed market. Can you imagine whatâs going to happen if and when they open that market up to foreigners? Itâs going to explode.-
.......................................................... True universal trading accounts getting closer.....perhaps....???? Domiciled in a "proper place"....???? Go BATS and kin....
Let them explode. The China bubble 2.0 is coming and hopefully the government there has learned the lesson from the US debacle. What does Rogers care? He is not in the US anymore ... He had been cheering the US financial melt down .. all the way down.
Jim Rogers speaks .. out of his ass. A few months ago he screamed sell the GBP when it was trading around 1.35 against the USD. At multi year/decade lows. At the same time is former partner (Soros) was covering his GBP short position. GBP now trading near 1.70
Exactly. He screamed sell the GBP right at the bottom! That folks don't see through this is amaizing. He is using the media to move the markets in his favor.
Good for him. Then he should move to China... Anyway, why is he telling us this... out of the kindness of his own heart? Most of his returns during the 80s were based on insider information. Think about that.
The govt has learned? Have you forgotten who is in control here? You SHOULD know they will continue more of the same. The second stimulus was not delayed by the failure of the first. Neither will the third stimulus be delayed by the failure of the first two. None of the stimuli were designed to do a damned thing but mortgage future taxes receivable and enrich friends of the elite, namely politicians and the obedient masters under them. What will it take for you people to wake up? People in money and power only want two things in life, more money and more power. However, he is not renouncing his US citizenship and pays US taxes on money he makes from all over the world. Even after someone renounces their citizenship, the IRS requires them to pay taxes TEN YEARS afterward. Get off this stint about Rogers wanting the US to crash. If that were the case, he would remain silent and just ride it down. Obviously, he has done the opposite of that. Rogers has his own money and cannot be bought, which is why he is credible above the paid talking heads, politicians and ego-sensitive ET posters. Same for Perot in '92 with his slides and presentations. You can laugh at him, but he was correct and most of you weren't.
Commodities has no borders. We put up restrictions they will go to china. So we push jobs to china due to excessive regulations and taxes + Unions. Trading will just get sent overseas as well. We are becoming a third rate nation at this rate.