Jim Rogers: Gold Price Due 50% Correction & More Countries To Leave US Dollar! Food Shortages And Spontaneous Riots Likely!

Friday, November 21, 2014
By Paul Martin

November 20th, 2014

In the latest Jim Rogers interview, the famed commodity investor joins Kitco News with his predictions on the Chinese and US economy, what he expects to see happen to gold, stating it is due a “50 percent correction” and provides his insights into what he sees in the US Dollars future, stating “No country in world history has got itself into this kind of situation and got out without a crisis or semi-crisis.”

It almost happened in 2008… but as this excerpt from Casey Research’s Meltdown America documentary notes, it appears the US military is preparing for the potential collapse of the US dollar. As Scott Taylor warns, “…if the carrot (of credit worthiness) is fading, and the stick (of military threat) is weak, that empire is going to come down in a hurry…” which leaves a serial economic mis-manager only one option to ‘secure’ the empire. The US government has run up trillions of dollars in debt, and given the recent debates over the country’s debt ceiling, we can rest assured that neither Congress or the President will act to curtail spending and balance the budget. We will continue adding trillions of dollars to the national debt clock until such time that our creditors no longer lend us money. Well, the primary events are fairly predictable: they would include major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), followed by a crash of several major currencies, particularly the euro and the US dollar.

Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses. Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the US to be a “battlefield.” The NDAA allows the suspension of habeas corpus, indefinite detention…

While Rogers explains he is not providing specific dates, calling himself a terrible “short term” investor, his warnings on the US Dollar are similar to what other financial gurus have been warning about, contrasting the rose colored vision of the US economy blared in the mainstream media’s headlines day after day on the American economy.

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