• Skip to main content
  • Skip to primary sidebar

Metacoin

Covering Bitcoin, the Blockchain, Altcoins, and Fintech

  • Start Here
  • Links
  • Disclosures
  • Sketches 2021
  • Collezione

jim rogers

Sep 10 2022

18 Months Later: Was Jim Rogers Correct?

Editor’s Note: We decided to hand the reins over to a guest columnist, Lawrence James, who lives in Sub-Saharan Africa and has become a fan of Metacoin. We asked him to take another look at Dave’s conversation with Jim Rogers, and see what his thoughts were after the fact.

A year ago, in a conversation Dave held with Jim Rogers about the crypto and economic worlds at large, the pair happened to exchange a couple of points. Jim is a long-time investor, hedge fund manager, and co-founder of the Quantum Fund. Most importantly, he’s a self-made multi-millionaire who knows a thing or two about markets.

Biden Backing Up the Money Truck

Dave posed a question on the issue of Joe Biden giving out cash to people who elected him, which put the country in debt, and how it would be paid for. Jim said, “ You’re wondering but Joe Biden is not wondering,“ and later explained that politicians like Biden were driven by a mentality that insinuated that they spend if it’s there, and if it were not there, they would borrow it and still spend it. This came to pass when Biden awarded $1.9 trillion as part of the American rescue plan, which was geared towards bailing out citizens, and giving out $1400 stimulus checks, a move that further put the country in debt. 

Also, concerning the Biden issue, Dave asked for Jim’s view on whether the Biden administration was using that as an opportunity to continue an economic overreach and if such an event would ever unfold again. He said that that would happen again since the governments had guns while referring to power, and they knew what was good for the community. He claimed that maybe their approach was what was going to save everyone.

I think, true to this thinking, Biden’s approach, bordering on “overreach,” ended up working, but the discovery of vaccines greatly aided the administration.

BREAK TIME: HERE’S A SPONSORED LINK to BINANCE. SIGN UP HERE AND WE BOTH GET SOME CRYPTO. Now back to Lawrence’s article.

What About Short Squeezes?

Dave later questioned the issue of GameStop. It had gone up 85% from its usual high then. Jim termed that a short squeeze, for that was not the first time he had seen that, but what amazed him was how they could create such a vast short, which, according to him, was a legitimate and historical kind of event. He also says it can happen again, but he suspects it cannot happen in the Silver markets. However, this came to pass in another market when Nickel faced the risks of another short squeeze as of 31st March 2022.

What About Crypto?

Dave asked specifically if Bitcoin was a worthy trading vehicle, given the fact that, if it were made a publicly traded company, it would rank as the sixth largest in the world (at 963 billion dollars at the time of the interview). Jim termed crypto a worthy investment vehicle; he even added that if he had the chance earlier, he would have bought some for himself.

In line with that, he added that nations without internet access could not use crypto; hence in such a nation, one with crypto can be termed as one only “money rich” but can’t spend their money. He also pointed out blackout cases as another flaw to wanting to access crypto whenever in need readily. He mentioned that many nations had already raged war on crypto use on their borders. And if it were to succeed in becoming money,  the governments would outlaw it if it meant using guns. This has, however, not been the case yet, as El Salvador became the first country to adopt Bitcoin as legal currency as of September 2022. 

Market Bubbles Abound…Still?

Next, Dave brought up an interview Jim did with Kitco, where Jim said we weren’t in a bubble in stocks. Jim agreed, but said that bonds were in a bubble, and at that time, bonds were at the most expensive they had ever been, and that was a bubble. He claims on the stock market, some stocks might have registered bubbles, but some stocks, Like Apple, Tencent, and Google, make profits every day and have never been in a bubble; hence the stock market, according to him, was not experiencing a full bubble just yet. He said that the many “SPAC“s coming, which he believed came after a bull market, would bring a bubble burst and an end to the bull market.

An economic bubble popped later in the year. Despite their impressiveness, the 20–30% corrections experienced in the first half of 2022—the most significant first-half decline in more than 50 years—had not yet warmed up. Instead, they had come from high starting positions after a period of the fast price increase. As a result, two problems needed to be addressed: first, were the beginning positions of these corrections so high that markets had inflated? Second, had the markets deflated as much as they usually do when a bubble bursts if they were in bubble mode? Knowing where we came from may help us determine where we were going.

In conclusion, I would say that Mr. Rogers is a man of his word as most of what he said came to pass. Crypto has been termed the future of money, and its use has been on the rise, with many countries even accepting it as legal tender. However, some people are still skeptical about its use, with Jim Rogers being one of them. Nevertheless, he is still a great investor, and his predictions are always worth listening to; however, as he stated earlier, one’s choice of investing should be characterized by their understanding of the investment.

Written by David Van de Walle · Categorized: Inflation, Interview · Tagged: jim rogers

Feb 19 2021

Interview with Jim Rogers

We had the pleasure of sitting down via Zoom with Jim Rogers. We talked about a bunch of stuff, including:

  • Bubbles
  • Money Printing
  • The Pandemic
  • When/where/how a crash might happen
  • Janet Yellen
  • Bitcoin (of course)!

Give it a watch or listen!

Written by David Van de Walle · Categorized: Interview · Tagged: Bitcoin, interview, jim rogers

Aug 15 2017

“It Looks Bubblish”

Rogers Crypto

This reporter has been a huge fan of Jim Rogers for years.

Don’t know who Jim Rogers is? You can read up on him on Wikipedia, but here are the things we like the most about Jim:

  • He’s a semi-legendary contrarian – and he has been known to move his entire portfolio to things like precious metals or agriculture stocks when he thinks the timing is right;
  • He can sometimes seem to see around blind corners – he has a knack for calling bubbles before they become bubbles;
  • He and his wife moved to Singapore to (1) get out of the US and (2) expose his young children to a different culture and a different language.

In this interview we found on YouTube, conducted by the precious metals site Kitco, Jim talks about a wide variety of subjects.

I expected the typical “the crash is coming,” followed by “buy gold,” followed by “start your own garden, start prepping,” but I was sorta surprised to hear Bitcoin and cryptocurrencies come up. And I was even more surprised – at least at first – at what Jim had to say about the crypto craze.

How Much Does He Own?

Look Out BelowGrand total of zero.

Jim Rogers, legendary investor, owns zero Bitcoin. “It looks bubblish, when you see the kind of price action we’ve had in Bitcoin.”

Rogers went on to say he’s not sure which of the ICOs or coins or cryptocurrencies will come out on top “if any come out on top.” He sounded, in a word, skeptical.

But This Shouldn’t Surprise You

Earlier in the video, Jim said something about “invest in what you understand.” And he sees trouble in the global marcroeconomic picture right around the corner. He would of course head in the direction of gold – which he holds, but isn’t buying right now. And into the US dollar, too.

However, he doesn’t understand crypto, so you could see why he’s sitting this one out.

Should You Sit This One Out?

Of course, this being a site that talks about Bitcoin, the blockchain, and cryptocurrencies, you can guess what our answer is.

It has been said – here and elsewhere – that this whole crypto industry is eerily similar to the dot-com boom of the late 90s (which, of course, leads to the potential for a bubble to pop). Fine, we get it…and we can understand why you’d think that the flight to safety and the hedge should include gold, or really safe bonds.

The difference here, though, is that we’re looking at an entirely new industry that has been created out of thin air – but the ramifications for global society and economics are huge. Orders of magnitude larger than you might think huge.

Two Pieces of Advice:

Piece one is to watch Jim’s video; it will take you six minutes.

Piece two is to watch MY video. That takes just three – and there I encourage you to look around for answers to your questions.

And, if you want to get started, the absolute first step is to actually get some of the cryptocurrencies we talk about into your virtual hands. Best place to start is Coinbase, and if you use our link, they’ll give you a reward of $10 worth of Bitcoin with a qualifying purchase. (We also get a bonus with your purchase.)

Written by David Van de Walle · Categorized: Bitcoin, DYOR · Tagged: jim rogers

Primary Sidebar

Search This Site

Most Popular Posts

Liquidity Machine Go BRRRRRR

If you have a hard time keeping up with the latest in crypto, fintech, or any of the other things that keep the economy moving, join the … [Read More...] about Liquidity Machine Go BRRRRRR

discount bitcoin

Time for Discount Bitcoin

It's been a long, long, LONG week on the financial markets. Coronavirus fears plus an oil price drop made for a one-two punch that has left … [Read More...] about Time for Discount Bitcoin

Tweets by TeamMetacoin

Copyright © 2023 · Altitude Pro on Genesis Framework · WordPress · Log in