Posts Tagged ‘crash’
Jim Rogers World Adventure Traveler on China, Globalization, the USA and Dubai 2007
Dubai, China, the United States and globalization from the man who may know it best, Jim Rogers.
Called “The Indiana Jones of finance” by Time Magazine, Jim Rogers is one of the best global experts of our day.
A conversation with legendary investor, adventurer and more… traveler Jim Rogers. Mr. Rogers and George Soros were co-founders of the famous Quantum Fund, one of the most successful hedge funds of all time.
Mr. Rogers’s extraordinary track record and insights alone set him apart from so many peers but perhaps most interesting is his take on the global economy. Mr. Rogers has traveled around the world twice, most recently on an ambitious 152,000 miles journey to over 115 countries. This trip earned him and his wife Paige Parker Rogers a spot in the Guinness Book of World Records.
Mr. Rogers was called “the Indiana Jones of finance” by Time Magazine and recently has focused on commodities and investments in China.
Jim Rogers is founder of the Rogers Commodity Index and a regular guest on CNBC and other programs. Jim Rogers is the author of Hot Commodities, A Bull in China, Investment Biker and Adventure Capitalist.
In this video interview Jim Rogers discusses his thoughts on American isolationism,. Dubai, Abu Dhabi and the Middle East, Africa, Asia, commodities and our changing world.
“If the middle of Africa blew up, we’d never know about it in the US. The rest of the world might, but we wouldnt.”
“Most Americans can point to Japan on a map, they cant tell you where it is or why they should know or why its important.”
“Dubai is working to become the best at everything.”
He is interviewed here by Bruce Fenton, editor of the Fenton Report online wealth management magazine.
connect w/ me on facebook http://www.facebook.com/bruce.fenton.page
Duration : 0:4:29
Peter Schiff predicts Imminent Doom – Fear And Loathing In America
Peter Schiff (former Ron Paul financial advisor) predicts Dollar Crash. American Economic Crash. Fear and loathing in the American Empire.
Duration : 0:9:59
Second Financial Economic Crash Coming – Huge & Soon
http://www.btang.net/
A Bigger Crash Is Coming after the Second Wave/Crash in the mortgage crisis. The solution is: H.E.L.P. – Humanize (Be Humane), Economize (Buy/Use Only What U Need), Localize (Plant Garden/Walk), Produce (Learn Skills)
Duration : 0:9:45
Stock Market Crash – Robert Prechter on Bloomberg – Oct. 19, 2007
http://www.elliottwave.com/s.asp?url=/&cn=yt
Watch Robert Prechter on Bloomberg TV on the 20th anniversary of the 1987 stock market crash predict what is unfolding before our eyes today. An uncannily accurate forecast from the man that forecast the 1987 stock market crash.
Why would anyone think that the Fed’s actions have any influence whatsoever on the trend in the stock market?
The Fed has similarly cut the discount rate twice in recent months, and on all occasions (Sept. 18, Oct. 31, Jan. 22, Jan. 30) the stock market immediately rallied… only to see prices give back those gains and more, within a few short days or weeks.
Mind you, these are recent and relatively minor instances. There are longer-term examples that unfolded for years, such as the Fed’s historic campaign in 2001-2002 that saw a DOZEN rate cuts, during which time the S&P 500 lost HALF of its value.
More dramatic still was the Bank of Japan’s campaign that took rates to virtually ZERO for entire decade, even as their Nikkei stock index declined and/or languished over the entire period.
There’s nothing new about this information — we’ve spelled it all out before, as recently as Bob Prechter’s Nov. 27 and Jan. 24 appearances on Bloomberg television.
Watch Prechter on Nov. 27: http://www.youtube.com/watch?v=WJnMia2rARI
With charts and facts, Bob showed how powerless the Fed really is; he also reminded the audience that “People should be careful of what they wish for when they ask for lower rates.”
Yes, the financial establishment labels Bob Prechter a contrarian. But, what does it say about that establishment’s state of mind when arguments based on facts and evidence make a person “contrary”?
All the charts Bob included in that interview — in fact, everything he said at the time and more — is in the current Elliott Wave Theorist and Elliott Wave Financial Forecast. See it all on your computer screen in minutes, via the fast link below.
http://www.elliottwave.com/s.asp?url=/&cn=yt
ADD TO YOUR FAVORITES! EMAIL THIS VIDEO TO FRIENDS!
Duration : 0:7:7
10/29/09 Ron Paul Questions Tim Geithner at Financial Services Hearing
http://www.house.gov/paul
http://CampaignForLiberty.com
Congressman Ron Paul once again schools Secretary of the Treasury Tim Geithner.
Duration : 0:5:30
Financial Showdown
Martin Summers, the Former East European projects officer for the New Economics Foundation talks about present day money matters as we slide down a slippery sope.
Duration : 0:6:37
Financial WAR w/ China?!?! Dollar Collapse & Gold’s Future
http://maxkeiser.com/
Watch my SHOW Live (or Recorded)!
http://www.livestream.com/GrowBy10
[Click on Video ON-Demand for my 1st Live Show]
Add me as a friend on Facebook!
http://www.facebook.com/harryc
Get DAILY GrowBy10 Updates on Twitter!
http://twitter.com/GrowBy10
A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent.
The State-owned Assets Supervision and Administration Commission, the regulator and nominal shareholder for state-owned enterprises (SOEs), told six foreign banks that SOEs reserved the right to default on contracts, Caijing magazine quoted an unnamed industry source as saying in an article published on Saturday.
While the details of the report could not be confirmed, it was Monday’s hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit.
The warning from SASAC follows a series of measures from Beijing this year to crack down on the sale of derivative products by foreign banks to Chinese enterprises, principally big consumers, who bought protection against higher prices last year only to watch the market collapse — leaving them with losses.
While many companies including top airlines have come clean on the losses, some analysts fear another wave may follow.
“I wouldn’t be surprised if more state firms emerge with big derivatives trading losses, otherwise SASAC wouldn’t come out with such a radical move,” said a Hong Kong-based derivatives analyst, who like most other industry officials and bankers declined to be named due to the high sensitivity of the issue.
A SASAC media official said on Monday that he was waiting for the “relevant department’s” official comment before he can clarify to media. A government official said that the Bureau of Financial Supervision and Evaluation under SASAC was handling the issue. The official declined to be named and did not elaborate.
Spokespersons at Goldman Sachs and UBS declined comment, and media officials at Morgan Stanley and JPMorgan were not immediately available for comment. All are major global providers of commodity risk management.
No bank were named in the Caijing report. The SASAC media officer also declined to identify any specific banks.
“It’s a handful of companies who are being encouraged by regulators to re-negotiate,” said a second banking source. “It’s outrageous, but it’s China, so everyone is treading very carefully.”
For banks that are hoping to sell more derivatives hedges in China, the world’s fastest-expanding major economy and top commodities consumer, the danger goes beyond the immediate risk to existing contracts to the longer-term precedent that suggests Chinese companies can simply renege on deals when they like.
The report follows an order from SASAC in July that required all central government-controlled state companies engaged in trading derivatives to make quarterly reports about their investments, including details of holdings and performance.
But the reported letter opened several important questions that could not immediately be answered. “If we were among the banks receiving that letter, we would be very angry. But now the key is to find out more details on the letter: In whose name the letter was issued, the government or the corporate’s? And under what was the reason for defaulting?” said a Singapore-based marketing executive with a foreign bank.
The source, whose bank did not receive a letter, said that Air China, China Eastern and shipping giant COSCO – among the Chinese companies that have reported huge derivatives losses since last year – had issued almost identical notices to banks.
“If it’s in the name of the government, the impact will be very negative,” said the source, who declined to be named.
Beijing-based derivatives lawyers said the so-called “legal letter” has no legal standing — SASAC as a shareholder has no business relationship with international banks.
“It’s like the father suddenly told the creditors of his debt-ridden son that his son won’t pay any of his debt,” said a lawyer from the derivatives risks committee of the Beijing Lawyers Association. (C ) Reuters
Duration : 0:8:9
Ron Paul at 2/25/09 Financial Services Hearing (both parts)
http://www.house.gov/paul
http://CampaignForLiberty.com
Congressman Ron Paul’s opening statement and his five minute question and answer period with Federal Reserve Chairman Ben Bernanke at the House Financial Services Committee hearing, February 25, 2009.
Duration : 0:7:48
Ron Paul at Financial Services Hearing 1/13/09
http://www.house.gov/paul/
http://www.CampaignForLiberty.com
http://financialservices.house.gov
Here’s Congressman Ron Paul’s opening statement at the House Financial Services Committee hearing on January 13, 2009 dealing with the TARP funds.
Ben Bernanke had “more important” things to do and was a no-show.
Duration : 0:1:54
Misguided re-regulation of financial services
also check me out on http://www.facebook.com/schiffreport and http://www.twitter.com/schiffreport
Duration : 0:8:26