Interview with RT news
RT: Washington runs a $350 billion annual trade deficit with Beijing. China also holds more than $1 trillion in US debt. How could the US actually threaten China in such circumstances?
Rogers: Mr. Trump has been saying for over a year, two years, that he was going to start a trade war with China. He was going to put very high tariffs on Chinese goods. In his mind, he wants to do it, he is ready to do it. Some of his advisors are very much in favor of a trade war. It may very well happen. If it happens, it is going to be very bad for the world and it is going to be worse for America than for other people.
RT: How significant is Chinese trade with North Korea?
Rogers: For North Korea, it is extremely important – that is really the only trade partner. They don’t trade with many people except China. But it is not very important for China. China has got gigantic trade all over the world and North Korea is a very small economy.
Rogers: What impact will this have on North Korea itself?
Rogers: If China actually cuts off their oil or something, no, then North Korea cannot do much of anything. North Korea would have troubles surviving if they do something like that. It depends on the sanctions, so far China has not done anything which would destroy North Korea. But they could destroy North Korea if they cut off all trade.
Below is an excerpt from an Interview with RT news
RT: What is the likelihood that the US will go through with and actually impose economic sanctions on China if it does not implement the new sanctions regime against North Korea?
Jim Rogers: Sanctions are sanctions. They could do sanctions which are not very important or don’t do much damage. And then they will have good public relations which says they have sanctions, but it is meaningless. I would suspect if anything, that is what they will start with. If they put sanctions on China in a big way, it brings the whole world economy down. And in the end, it hurts America more than it hurts China because it just forces China and Russia and other countries closer together. Russia and China and other countries are already trying to come up with a new financial system. If America puts sanctions on them, they would have to do it that much faster and in the end America will lose its monopoly on the financial system, which will hurt America more than anybody.
RT: What do you think, is it an empty rhetoric and saber-rattling from Donald Trump ? Do you think this is just mere bluff on the part of the US ?
Jim Rogers: If it uses a nuclear option for sanctions, it will hurt America much more than will hurt North Korea, it will hurt America much more than it will hurt China, Russia and everybody else. It will force the rest of the world to find an alternative to the US financial system. If he does that, it is going to cause a lot of turmoil in the world financial economy and in the end it is going to hurt America more than it is going to hurt anybody else.
I would give you an example, if you look at Russian agriculture right now – America put sanctions on Russian agriculture trying to hurt Russia, but it has helped Russian agriculture. Russian agriculture is booming now. In the end, America has hurt itself more than it has hurt anybody else.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
Young people are optimistic and can do great during bull markets
“When things are going right, we all need a 26-year-old. There’s nothing better than a 26-year-old in a great bull market, especially in a bubble because they’re “fearless". So in the bull market, you’ve got to have a 26-year old. But when they end, you don’t want the 26-year-old around."
Jim Rogers knew of a young student who made around 500% two years running in the late 1990's, and his firm ”loved him.”
“The next year he lost everything for this company. They didn’t love him anymore. He was a 28-year-old.”
Young People can be clueless as to why they succeeded or failed.
“They make a lot of money. They don’t know why they made money. So they don’t know why they lose money. They don’t know what happened."
via marketwatch, realvision tv
"The west is shooting itself in the foot. Sanctions were meant to hurt Russia, but Russian agriculture has benefited. Money is coming in, and expertise is coming in. Five years from now, it will be fully embedded and fully capable. Someone should tell the Americans to lift the sanctions now, before there’s a gigantic, efficient, well-funded industry here.”
via FinancialTimes
Jim Rogers is a board member of AgroGard, a Russian crop and livestock producer.
