Jim Rogers: “Yes we’re going to have another recession, I guarantee you.”

by | Mar 18, 2010 | Commodities, Forecasting, Jim Rogers, Precious Metals | 18 comments

Do you LOVE America?


    Despite what we’ve heard from our benevolent leaders, we don’t think this economic crisis is over, and neither does famed investor Jim Rogers:

    Rogers said he started buying dollars last year in October and November “because everybody, including me, was bearish.”

    “I hope it’s a short- or medium-term position,” he added.

    He said he has not bought shares since November 2008, focusing on commodities instead.

    “I think that real assets are the best place to protect yourself going forward,” he told “Worldwide Exchange.”

    “I had had no shorts for about 15 months so I started putting out some shorts recently,” Rogers said. “But the fact that I’ve been putting out shorts means (the stock market) won’t pull back,” he joked.

    He said many investors were skeptical about the stock market’s rally.


    Rogers stood by his prediction that gold prices are likely to reach $2,000 per ounce in the next 10 years, because of “many things, especially the debasement of currencies around the world. It’s a simple statement that gold will go up by 6-7 percent a year in the next 10 years.”

    Oil is another commodity to watch as the world is running out of known supplies, while cotton is 70 percent below its all-time high and sugar is 80 percent below, he said.

    A bubble in commodities is likely to form, but probably not before 2019, according to Rogers.

    As for the US economy, the housing sector is likely to stay around the bottom for a while as there is a lot of excess inventory, he warned. Another recession may hit over the next few years and problems would be much worse, he said.

    “Yes we’re going to have another recession, I guarantee you. Certainly by 2012 say, it’s time for another recession,” Rogers said.

    “Next time it’s going to be worse because we’ve shot all our bullets.”

    It’s going to hit the fan, and there is no amount of machinations that will stop it. Global governments and financial institutions have used up most of their magic tricks and the show is almost over. But, like any good magician, they may yet pull something out of their hat, so timing something like this is quite difficult for those that are not ‘in the know.’

    To survive and prosper in the hard times ahead, focus on hard assets, either by purchasing commodity related investments via the stock market or holding your own commodity stores at home.

    When inflation finally kicks in, be it this year or five years from now, an investment in hard assets will pay off multi-fold. And, if you hold your own commodities (rice, grains, legumes, precious metals) in your physical possession, you have no counter party risk.


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      1. Comments…..Another recession? I didn’t know we got out of the first one, which by now should be defined as a depression. The American people have surpassed the state of serfdom. A serf always had work , food and a roof his head, which is more than
        most Americans today. At serf slept good at night not having to worry about debt, that was the master’s problem.

      2. I haven’t left the first reccession Jim, what the hell are you talking about ?

      3. I am still waiting for the “Christmas crash”.  What did the gov’t pull out of their hat to prevent that?  Answer: nothing.  Say it enough and it may happen EVENTUALLY.  Doesn’t mean any of these forecasters know what they’re talking about.  As some say, “Even a broken clock is right twice a day”.

      4. If Rogers thinks it going to take ten years for gold to hit $2,000 per troy oz ……… I have some raw land in Phoenix I would like to sell him.

        You don’t have to be psychic to see that the other shoe will drop soon. Just connect the dots.  Gold will probably hit that mark by the 4th of July of this year, and SUBSTANTIALLY higher than that by the 4th of July in 2011.

        Israel will NOT allow Iran to keep the bomb if they make one, and Iran will make one. Sooner, rather than later. Got Gold?

      5. Comments…..Zukadu , Roger’s is way off, but you’re too early in your analysis. I Think gold will hit $2000 by the end of 2012 and then take off from there as the economy goes into a nose dive. The Iran thing is a long way off, the rhetoric is to keep the weapons moving toward Israel while scaring the shit out of the Gulf Arabs to keep the status of the US. dollar as the petro currency. If and when the Iran thing happens,may be 2016 that’s the final nail in the coffin for the US economy. Besides they have Syria first on the agenda.So just imagine when it happens all together, internal self destruction of the economy,the Iran issue, and OPEC deserting the dollar all at the same time.Hello Zimbabwe, Somalia.

      6. SAM:   If I were making that prediction on gold based on technical analysis, yeah, I would be way too early. But Iran has acheived industrial capacity with respect to enriching U-238. IC being defined as having 10,000 or more centrifuges to process the gas.

        Iran had about 3,000 centrifuges this time last year. By September 09 they had 6,000. They were well over 10,000 by New Years Day and they are not slowing down but expanding this manufacturing capacity. Israel can only afford to wait so long, and they know it.

        But thats not the only reason I think gold is going up, way up, and very quickly. The Bible Codes predict the BIG ONE for LA this year. Given the financial State of the Union, that would be a game changer for the dollar. Any profit taking, or pull back in price is a good entry point.

        I got mine.


      8. Comments…..Zukadu: The Bible code is the true technical analysis, that is what I base it all on. I am only going to touch on a few pointers, first according to the code we are not in the year 2010. Knowing  the when is the key. As for Iran’s nuclear weapons it is like Iraq’s WMD nothing but BS. Neither Israel or the US will touch Iran while there’s 25000 Iranian Jews still living there, nor will the US. fall while there’s five million jews still living there. Keep an eye on their movement for the next six years, there will be a lot of new buildings and settlements every where in the occupied territories to accommodate the new comers , regardless of what happens it can’t be stopped it is their destiny to all gather there. Something will happen between Israel and the US to cause a fall out in relations, the exodus to the gathering place will be complete in six years time from the US then SHTF. As for gold it will rise in the same ratio of speed of the dollar’s  fall. The best teller of truth is time , sit back and watch the script play out.

      9. Sam:    The Bible Codes are not technical analysis of market movements.  They are messages found hidden in scripture using computure software that finds words or phrases by emphasizing letters with specifc spacing, I.E. every tenth letter, or every 22nd letter, for example; regarding (in some cases) both personal and or historical events. Not everyone or everything is found in them.

        How valid these hidden messages are, is anyone’s guess, and everyone has an opinion about them. Personally, I find them facsinating, as I have tested them for both personal and global events. I invite others to do the same. If nothing more, I believe they would have you talking to yourself and saying, ” Hmmmmmmmmm” ……….. and if they can throw some light on our current environment, so much the better.

        Given the time frames identified by the Code and the time frame we are in, I think it appropriate to consider this information to gain an edge, if we can. As for which year we are in, I understand that other cultures, like the Jewish culture, have different calendars. Still I am only reporting what I have found in the Code as I have been working with it, and try to relate these findings to our current experience.

        As for Irans nuclear capability, I am only repeating information that Iran has publically admitted and that intelligence sources have exposed over time. Information which everyone may not be aware.

        The Bible Code predicts the coming clash between Israel and Iran. Current events suggest that clash is coming sooner rather than later, and if anyone thinks Clinton was in Moscow to talk missile cuts, and not about Israel’s inevitable attack on Iran, they would be sadly mistaken.

        These events will have important consequences for the price of gold, and oil, and the dollar. I got mine because I prefer to be proactive, not passive. I urge others to be proactive as well.

        Thats the basis for “prepping”.

      10. Comments…..The codes are not technical analysis of the markets I agree, but they do give the time frame for a nations demise. For example you say LA. will get it this year, but the code doesn’t deal with a specific state but the nation it self. As for time there is only one universal calendar to follow, and that is the lunar based system according to scripture. People can follow any system they please but it doesn’t change the fact there is only one. Example we are in the year 5770 which is also the hebrew calendar to know AD minus 3705 which gives you the year 2065 AD . To know Hijra or the muslim calendar minus 627 gives you the year 1438. The total is always the same after adding regardless of which point you count from. To decode the scripture properly you must know the original format  not a translated one. It’s all mathematical and linguistic, I put years of study into it, God’s light is infallible. Learn the process  of time then you will know how much time you have to build your boat as Noah did, you don’t want to be half way through when disaster comes, for it will al be in vein. Future events already happened, as in the day of Noah, the flood already happened, man has a choice believe with Noah and get on the boat or stay behind and die.Remember the survival rate of salmon in spawning time is only 2%, I don’t think Man will do much better than that. As for Gold what good is it if you drown.

      11. Sam:   I appreciate your understanding of time, and your years of study: including the idea that everything happens in an “eternal now”, which may be the perspective from Gods vantage point, and yours. But maybe your focus has been too narrow. The idea that there is only one universal calendar is a bit presumpteous to say the least. There have been many calendars by many civilizations and these calendars worked well enough for them. Your universal calendar, for example,  said nothing about the 26,000 year cycle of the alignment of the cosmos. We had to learn that from the Mayans. The great thing about Arizona’s “calendar” is that there is no “daylight savings time”. We never change our clocks. 🙂

        My own understanding of time is this: 

        “Time is the protocol by which God catelogs eternity and brings the challenges and rewards to every living soul, by grace, through patience, for a more personal relationship with Him.”

        I say this because I know that God yearns for each of us, as each one of us yearns for our beloved. That works well enough for me.  

        Sam, I disagree that the Codes do not work if the language is translated from the original, to say English, for example.  If that were true, there would be nothing but jibberish coming from the English translation; and that is obviously not true. Even a cursory examination of the Code with an English translation will prove that to anyone with an open mind.

        Cities, states, names, dates, and events are there, in English. Within my own matrix were the names of my wife, my father, my brother, certain personal data, and most amazing to me, the name of my Gold mine. All from the English translation. Its hard to be a skeptic when that kind of personal data is forthcoming from a book written three thousand years ago, and translated into English, what, 500 years ago?

        I believe that the Bible Codes can be a useful tool for all of us living today, to enhance our understanding of the time that we are in (The Last Days) and give us an insight into how current events fit into that scenario. I don’t say that they are infallable. I say they are worth an examination with an open mind because they do predict:

        The BIG ONE for LA this year. Solar flares in 2012. And a Pole reversal or shift in 2015.

        IF the big one hits LA this year, then people ought to prepare for serious solar flares in 2012. I say “serious” because solar flares occur all the time, yet the Bible Code (by MY calendar) specifies 2012; thus MY interpretation is that these solar flares will be different than most. Therefore my advice to those that want it is:

        Own some precious metal. Gold is a store of value if you have wealth to store. Buy silver if you cannot afford gold, and expect to survive (or plan to survive) the CHANGES that are coming. Prep your family with rations for survial, seeds and tools for tommorrow, weapons for self defense, and land if you can afford it.

        I got mine. Would that you all had yours. Do the best you can. Be proactive, not passive. There is time to prepare, which is what this site is all about for those with an ear to hear. Prepare mentally, physically, and spiritually. As difficult as the entervening years may be, 2015 may be the most difficult because then, all systems will be stressed.

        Even so, I look forward to the coming CHANGES with confidence. You should too. All of you. Its going to be AWESOME!

      12. wow…the word balloney springs to mind…..

      13. Comments…..Zukadu,I agree this site is great for sharing ideas on the subject of survival when SHTF, and we should thank Mac for that. I never posted my thoughts on this subject anywhere else for in general people are not interested in the future and don’t care. Like some one sitting in the dark for a long time then you  come in and turn the lights on the first thing that happens is he covers his eyes. As for the translations of scripture the fundamental meaning of conduct remain regardless of language but the linguistic mathematical structure which deals with time is lost. The different calendar’s didn’t fit into this system they are  based on superstition rather than mathematics. The one system that does fit is the ptolemic which no one believes in. All I can tell you is SHTF the year 2016 the cycle will last 19 years and who ever survives against the four horsemen will be truly blessed. Remember sometimes preparing the necessities and staying where you are isn’t the best at times, there is situations where saving your self could also be moving altogether as in the case of Lot.

      14. Sam, I just put the info up – it’s people like you, Zuk, and many other SHTF Plan contributors that really open up the eyes of those who have had them covered for so long.

        The discussions within the articles published on this site are where I find unique and entertaining ideas and interpretations – without them, this site wouldn’t be the same.

        So thank you to all who take the time to contribute and share their personal views!

        RE: cycles … I very much enjoy learning about the various cyclical analysis out there and one thing that I seem to be coming across is that a lot of the cycles – be they Martin Armstrong, the Mayans, The Foundation for the Study of Cycles, Harry Dent, or the one you mentioned Sam – are closely aligned. Sure, you have some of them that may be off several months or a few years, but they all seem to be following the same general trend line.

        And in my view, we’re not going to be out of this mess any time soon. Cyclical events, especially when we deal with massive economic systems take years and decades, not months as some would have us believe. If we are in as bad a crisis as it seems like we are, then this cycle could literally be multiple decades, well into the 2030’s… There are a lot of variables here, but historically it seems like all the ‘best’ or all the ‘worst’ variations tend to occur together.. It probably has something to do with that whole negative (or positive) feedback loop.

        Let’s hope that the cycle you discuss above is wrong, Sam….

        I for one, am not going to just “hope”, however. We’ve seen what hoping could lead to, so I am doing what I can to prepare myself for a variety of different scenarios, including what I personally deem to be one of the more likely, and that is a declining economy, fewer jobs, higher essential goods prices and a destruction of the middle class over the course of the next twenty years.

      15. Mac – thank you for giving everyone the opportunity to exchange information and ideas. I’m fairly new to prepping – at least to reading and learning. I’ve felt the need to prep for quite a while, just never got online to see if anyone else felt like I did! I don’t always agree with the comments posted by your various readers, but I find that most of them take me outside my comfort zone and make me think about new or different ideas. I’ve learned a lot lately! But I’m only more convinced of one thing – the S-WILL-HTF, and probably sooner rather than later! But thanks to so many who post here, I’m a whole lot more prepared and don’t feel like I’m stuck out ‘here’ all alone!!

      16. there is heaps of gold in the south island of nz ,ive been stoc pileing for years


        I have a web site where I give investment advise on penny stocks and stocks under five dollars. If their is anyone thats interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about jim rogers. I think jim rogers has been right on the money about everything He recommended commodities back in 2000 when everybody in the world hated commodites. I also like the way that he tells it like it is.  

      18. How would you like to totally pay off the National Debt without costing the American People one penny?

        How would you like to Abolish the Internal Revenue Service?



        If the money supply goes up you create INFLATION and prices goes up.

        If the money supply goes down you create DEFLATION and prices goes down.

        If the money supply remains CONSTANT. Prices tend to trend lower.

        1) First we Abolish the Federal Reserve established in 1913..

        2) Then we Abolish the Internal Revenue Service established in 1913 along with the Federal Reserve, which serves as the collection arm of the Federal Reserve to pay itself Annual Interest for money we borrowed from ourself.

        3) Then We take “fractional reserve banking system” away from all banks and go back to “100% reserve banking system”.

        4) Presently the Federal Reserve allows all banks to legally print $10 new Dollars for every dollar they hold on deposit (this is really counterfeiting). This increases bank profits and the Money Supply by a factor of tenfold for every new dollar printed by the Treasury Department and also causes Inflation.

        5) This year the Federal Government will borrow and print $1.5 Trillion Dollars.

        Eventually this money ends up deposited in a bank. The Banks just like a magician are allowed to take that $1.5 Trillion Dollars and turn it into $15 Trillion Dollars, this will Increase the Money Supply by total of $15 Trillion Dollars.

        Wait a minute!!! Ain’t that the same amount we need to pay off the entire Federal National Debt?

        We must take “Fractional Reserve Banking System” (this should be called CONTERFITING ) away from the banks and force them to use “100 % Reserve Banking System”.

        Then tell the Treasury Department to print up $15 Trillion Dollars of non-interest bearing Treasury notes (dollars) and buy back all the Interest bearing Bonds (Our Total National Debt).

        This will not increase the Money Supply by even one penny because we will destroy all the interest bearing Bonds we just purchased.

        WOW.. we just paid off the entire $15 trillion dollar National Debt by printing non-bearing interest Treasury notes (dollars) and did not cost the American people one penny.

        We totally eliminated the National Debt, eliminated annual interest payments on the National Debt, eliminated paying Federal Income Taxes and created a positive surplus of $2.6 Trillion dollar in the Social Security trust fund,

        Every time I go through the calculations I think of other benefits.

        Some National Debt Facts:

        • Social Security trust fund is $2.6 trillion in the black (IOU’s).
        • Social Security trust fund in 2010 ran a $68 billion surplus.
        • Only $1.2 trillion is owed to China.
        • $10 trillion is owed to American people.

        When we pay-off the National Debt as I have suggested we automatically create a Positive Social Security Trust Fund of $2.6 trillion dollars that I suggest we separate this Trust Fund from the General Account.

        Presently we are paying about $400 Billion Dollars every year interest on the National Debt (money we borrowed from ourself). But, if interest rates starts going up because of Hyper-Inflation and that’s exactly what the Price of Gold is telling us right now. This interest we are paying on the National Debt could easily grow to an amount larger than the total Federal Gross Income tax receipts.

        This is a very Powerful Monetary Tool and this gives you an idea of how the banks has been given this sweetheart deal by Congress back in 1913 which has allowed the Banks to literally rob the American people out of trillions of dollars. The Federal Reserve has already screwed the American People out of $150 Trillion Dollars since its inception.

        This will force all the American Banks to go back to a Fair Banking System of “one hundred percent reserve banking system”.

        What happens if we do NOTHING?

        The alternative is to let the Federal Reserve continue screwing the American people out of TRILLIONS of DOLLARS year after year?

        Do you understand what is going to happen when the Feds are forced to start increasing the interest rates to stop the coming Hyper-Inflation?

        Back in the 1980s Federal Reserve chairman Paul Volcker was forced to increase Interest rates because of run-away inflation and the Interest rates jump to around 20%. If that was to happen now we could easily see the Annual Interest Charged on our National Debt jump to around $2.8 Trillion Dollars a year. That my friend does not include the projected Annual Budget short fall of another $1.6 Trillion Dollars.

        This is exactly why the Price of Gold has increased from $300/oz. to $1,800/oz., a six fold increase. Gold is trying to tell everyone something but no one is listening as usual?

        We could end up paying more annual interest on the National Debt than the Internal Revenue Service collects in annual gross Income Tax receipts?

        That is called Absolute National Bankruptcy.

        The Federal Drug Administration (FDA) is just another privately owned organization setup by the Rockefeller Family to benefit all the large drug Companies and the Medical establishment. The Pharmaceutical Industry, AMA and FDA are Endangering Your Health for Profits.

        Please copy and post if you like this idea.

        SO MOTE IT BE..
        Harry Dingey


      1. Important Reads For The Weekend While You Welcome National Health Care | 20s Money - [...] Rogers says another recession is coming (SHTF) I think it’s debatable whether the first one is [...]

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