Home Banking Jim Rogers: I’m VERY Bullish about Bitcoin price “It’s WORSE Than We Thought”

Jim Rogers: I’m VERY Bullish about Bitcoin price “It’s WORSE Than We Thought”

by smart

history shows elliott for first of all history shows that no country stayed on top forever 100 200 years at the max and then they peak and go into decline so i presume we’re no different from anybody else that’s but one of the problems with history is people don’t learn the lessons of history you know we had a president recently who didn’t know history or if he did know history he said he was smarter than history i know i’m not smarter than history and history is very clear no nation and no currency by the way because they sometimes go hand in hand has stayed on top forever so america is now the largest debtor nation in the history of the world we have troops in over a hundred countries there are people who would say that we’re overextended financially economically militarily and it looks like they might be right uh so yes no i worry it’s not a good time to be uh young in america because what the young people are going to inherit is mind-boggling i’ve got two teenage kids and it it disturbs me it’s good to be old because i don’t have to pay i have to pay for all of this you know i get the benefits they’re borrowing a lot of money spending a lot of money pretty well i’m old okay do it it helps me but it doesn’t help the future 100 years ago britain was the richest most powerful country in the world there was no number two 50 years later they were bankrupt literally the imf had to fly into heathrow to bail them out so it can happen it has happened it often happens and the symptoms the money burning the debt etc have always led to the problem the kind of problems you’re talking about i don’t think it’ll happen in 2001 or 2021 or even 2022 but it’s on the way if you buy just about any country in the middle of a war it goes straight up if you bought japan you if you were careful you still came out making a lot of money or germany even though both countries were destroyed um one of the things i have learned is if you buy in a catastrophe you often make a lot of money so i’m not advocating that we have a war that’s so that we can all buy in wartime or anything but but your point is good yes britain would was great but the people who stayed in britain didn’t have a great life their standard of living compared to what it was before it was it was not the same country it’s not the same world it was amazing i mean i was actually a student in england in some of those years and their exchange controls i can remember 20 years after the war there were still sites in london that were known as bomb sites where the germans had dropped bombs 20 years later they still hadn’t cleaned them up they didn’t have any money you know i saw this so the standard of life living was not great they would you couldn’t take money out of the country i mean it was a mess that had been the richest country in the world never a big correction oh hallelujah elliott i’ve never seen that in history when where things never go down that would be fantastic certainly never happened in my investment career i had plenty of mistakes and plenty of things go down uh but the the your point is basically yes my experience and my observation is that all of this money printing is it has to go somewhere it takes a long time to build a bridge or a factory but it’s very easy to go online and you buy as much of anything as you want and that’s what’s happening everybody has a lot of money in their pocket there is a lot of money around and it’s going into financial assets will that last forever it never has but you say maybe it will maybe it will this time well i don’t think well i’m just looking at the venezuelan stock market and it’s just straight up in their local currency well for history shows that it’s very clear there’s certainly been periods when stock markets in various countries have done extremely well but it didn’t make people rich it what really counts is making people a lot of money in an international currency so that you can go and buy a watch or a car or a loaf of bread or whatever it is you want to buy i happen to be of a different view first of all the u.s stock market has gone up what 10 12 years without a serious problem other than some short gigantic disruptions but nothing serious that’s never happened in american history and maybe maybe elliot maybe it is different this time janet yellen says don’t worry we have solved the problems we won’t have problems economic problems again she’s got degrees from two ivy league universities so maybe she knows what she’s talking about i happen to know she’s wrong we will have problems again and when they come it’s going to be horrible 2008 we had a problem because of too much debt elliot since 2008 the debt everywhere has skyrocketed skyrocketed by gigantic amounts so it would be my view that the next time we have a problem is going to be the worst in my lifetime given that the debt is so i mean i don’t that may sound like some kind of wild statement but i look out the window the debt is there the debt goes higher every day i know what it caused in 2008 it’s got to be worse next time around but mrs mrs uh young says no don’t worry it’s not going to happen again and mr powell says the same thing hyper inflation eventually of course we may have well have hyperinflation uh britain ended with not hyper-like venezuela but very serious and the value of the currency went down 80 percent against the u.s dollar over a few decades that’s pretty serious stuff if you happen to be a british citizen uh i doubt that we will end in hyperinflation quickly that’s usually towards the very very end of a decline of a long decline if venezuela had been declining for a long time that zimbabwe was in the ground you know zimbabwe at one time was the richest country in the british empire been a long way down since then they learned mr mugabe learned how to ruin the country and he did it took him decades but he totally ruined it and it ended in wild wild inflation i don’t think we’re going to have it that quickly uh in the u.s even if we’re going to rate the way of britain uh don’t don’t panic yet but it doesn’t mean we can’t have a serious inflation or a decline of the of the standard of living and a decline of the value of the currency and we probably will history is pretty clear that’s what happens so the question is that that kind of default will prob i cannot see that happening in the u.s however the value of the money is certainly going to continue to decline as i said the british pound went down 80 percent against the value of the us dollar which replaced it as the world’s reserve currency i’m sure that the value of the us dollar is going to continue to decline everybody watching this knows that a dollar is not what it used to be it depends on whether you’re buying bread or gasoline or anything it’s not the same and it continues to decline and they’re they’re not they’re not on your side elliot i told you they want to keep their jobs you


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