Rogers, Rickards and King on the market turmoil
The post dollar world, the Gold Standard, the “largest debtors in the history world”: Jim Rogers, Jim Rickards and HSBC’s Stephen King give Faisal Islam their thoughts on the downgrade.
Watch the videos for the full interviews with King and Rickards, and read Rogers’ comments below.
Stephen King, the chief economist of HSBC tells me that “financial anarchy” is possible for the next few years as the world has begun its adjustment to the “post- dollar world”.
Jim Rickards, a bond market specialist from the US, tells me why the downgrade was “a mistake for S&P”, why a return to the gold standard is the answer, and why the Tea Party should be praised. He answered your Twitter questions…
Lastly the legendary Jim Rogers, who once told me to become a farmer during an interview, could not be interviewed on tape, but emailed me this comment: “The “downgrade” is meaningless. The rating agencies have zero credibility. Besides everyone knows the US has not been AAA for years.
“We are the largest debtor nation in the history of the world and it is getting worse.
“I know you have to report something, but any investor who bases anything on this should not be investing. It is not even old news; it is not news.”