Stansberry Investor Hour host Porter Stansberry interviewed billionaire co-founder of the Quantum Fund Jim Rogers. The two had a deep discussion on rising debt levels, the future of gold and cryptocurrencies.
As creator of the Rogers International Commodities Index (RICI), Rogers has seen the ins and outs of global markets, central banks and government institutions. Like so many other renowned investors, he isn’t completely sold on bitcoin and cryptocurrencies as long-term holds.
“Governments don’t like cash because it’s expensive and because they can’t control you as much,” Rogers told Stansberry. “Everyone’s going to get rid of cash. Governments could issue their own cryptocurrency to control people. Governments like to have all the power themselves.”
Rogers thinks cashless societies are the future – whether bitcoin is the solution or not.
“People in China don’t have paper money,” Rogers said. “They buy a cup of coffee, put their phone on the sensor, and it’s paid for. They look at me funny when I say I have cash and want to pay. They say, ‘We don’t want to take cash. Cash is not efficient.’ My children will never go to a bank, post office, or maybe even to a doctor when they’re adults. The computer and the Internet are going to change money as we know it.”
Stansberry and Rogers didn’t hold back in predicting a global economic collapse in the near future given insurmountable consumer debt levels.
“The next financial problem will be the worst in my lifetime because there’s so much debt,” Rogers said. “The debt is much higher than in 2008. America is the largest debtor nation in the world. Japan has staggering debt. They have a declining population and debt that’s going through the roof. If I were a 10-year-old Japanese, I’d get myself an AK-47, and I’d leave.”
The conversation wasn’t all business and finance. Rogers touched on his previous relationships – including those with his ex-wives and business partners.
“I have not seen nor spoken to [Quantum Fund co-founder] George Soros in 37 years,” Rogers said. “You might as well ask me about my first wife. I don’t know what he’s up to. Occasionally, I read about him in the press. I’ve been a little bit better with money than I have with women. I got a good woman now, but I’ve certainly made plenty of mistakes.”
Listen to the episode with Jim Rogers at https://youtu.be/-5uvOoswZ7s.
About Stansberry Investor Hour
From business, investing and politics to entertainment and social issues, the Stansberry Investor Hour with Porter Stansberry and Buck Sexton offers candid, intelligent, and entertaining takes on today’s most important headlines… inviting a variety of insightful guests to join the conversation. It is becoming a required stop for politicians, the media, and financial and economic experts. The show has been host to a wide variety of prominent names from all sides of the spectrum and has a global audience in more than 100 countries. It is ranked highly in the Investing section of iTunes. New episodes release every week.
Stansberry Investor Hour podcasts can be accessed at http://www.investorhour.com
The latest episode with Jim Rogers can be heard at https://youtu.be/-5uvOoswZ7s.
About Stansberry Research
Stansberry Investor Hour is a part of Stansberry Research – a subscription-based publisher of financial information and software, serving millions of investors around the world.
To learn more about Stansberry Research, visit www.stansberryresearch.com
About Porter Stansberry
Porter Stansberry founded Stansberry Research in 1999 with the firm’s flagship newsletter, Stansberry’s Investment Advisory.
Prior to launching Stansberry Research, Porter was the first American editor of the Fleet Street Letter, the world’s oldest English-language financial newsletter.
Today, Porter is well-known for doing some of the most important – and often controversial – work in the financial advisory business. Since he launched Stansberry’s Investment Advisory, his string of accurate forecasts has made his advisory one of the most widely read in the world and has helped his readers both avoid catastrophe and make incredible gains.
For example, his dead-on prediction of the mortgage meltdown got the attention of Barron’s, who said Porter’s work was “remarkably prescient… Nothing, as far as we can see, has happened to contradict his dire prophecy…”
At Stansberry Research, Porter oversees more than a dozen of the best editors and analysts in the business, who do an exhaustive amount of real-world, independent research. Together, his group has visited hundreds of publicly traded companies to bring Stansberry Research subscribers the safest, most profitable investment ideas in the world, no matter what’s happening in the markets.
About Buck Sexton
Buck Sexton is host of the nationally syndicated talk radio program, Buck Sexton with America Now, heard on over 100 stations across the country.
Buck is a political commentator and national security analyst who appears frequently on the Fox News Channel and CNN. Buck has also had the distinction of being a guest host for Rush Limbaugh, Glenn Beck and Sean Hannity on their nationally syndicated radio shows, and is the only talent to have hosted all three shows.
Buck formerly served as a CIA officer in the Counterterrorism Center (CTC) and the Office of Iraq Analysis. He completed tours of duty as an intelligence officer in Iraq and Afghanistan, as well as other hotspots around the globe, and led intelligence briefings for senior U.S. officials including the president. Buck also served in the New York Police Department (NYPD) Intelligence Division working on counterterrorism issues.
A graduate of Amherst College, Buck was born and raised in New York City, where he currently resides.