A Financial System Built to Fail: 2008 vs 2012

Remember the financial crisis? Remember september 2008? Remember Hank Paulson, Tim Geithner and Ben Bernanke? Remember George Bush and Nancy Pelosi? Remember how they all told us that this was a once in a life-time event -- a once-in-a-century calamity -- and that after the crisis' immediate dangers were addressed, that the underlying causes would be tackled immediately? It's been more than three years since then, and we never cleaned up the mess. Now we are seeing the consequences. But how close are we from having this happen again? Having a crisis like 2008 happen again? The truth is, none of us know how things are going to play out, and how this massive explosion in debt over the past 40 years is going to work itself out.

Keiser Report: Starving the Economy

In this episode, Max Keiser and co-host, Stacy Herbert, discuss banking zombies and clowns and their magical thinking on zero rates while starving the economy of interest income. In the second half of the show, Max talks to Ned Naylor-Leyland about the silver, gold, backwardation, manipulation and more.

Greece & Portugal the Thorn in the Eurozone's Side?

On Monday EU leaders gathered in Brussels to try to get a handle on the Eurozone debt crisis. The purpose of the meeting was to put finishing touches on a plan that is supposed to get the Eurozone back on its feet. But according to some reports, Greece and Portugal have made the recovery an uphill battle. Lauren Lyster, host of Capital Account, gives us her take on the Eurozone debt crisis.

What is the New EU 'Fiscal Compact'?

EU leaders gathering for today's summit in Brussels are expected to agree a 'fiscal compact' to help bring the EU's most indebted nations back into line with the likes of Germany, which has, by far, Europe's most healthy economy.

EU Leaders in Key Brussels Debt Summit

European leaders arrived in Brussels on Monday for a key summit which they said would help bring about a return to growth but which economists predicted would mean more austerity.

Germany's Budget Discipline Plan for EU Approved

German Chancellor Angela Merkel appeared on Monday to have succeeded in pushing through her plan to force EU countries to adopt stricter budget discipline.

Jim Rogers: Bankers Bonuses to Shink by Half

Jim Rogers - CNBC 30 January 2012

Spanish Airline Collapse Leaves 20,000 Stranded

The collapse of Spanair, Spain's fourth biggest airline, has stranded more than 20,000 people in Europe and Africa.

Economic Collapse in the Western Nations

In this edition of the show Max interviews the author Michael Hudson from Michael-Hudson.com In this episode Max talks to Michael about the economic collapse in the Western nations and how this collapse gap thesis applies to the European economies currently experiencing a huge crisis.

Britain's 'Lost Generation' of Unemployed

Across Britain there are nearly one million unemployed young people. For these youth, finding a job is not merely about income, but also a matter of character. Due to a law aimed to people perceived to be lazy, many of these young people will be forced to work for free. Lacking the money to go to university and the jobs with which to build a CV these young Brits feel at a loss.

US Fed: No Hikes until at Least Late 2014

The US Federal Reserve says it will not raise interest rates until at least late 2014, in an effort to support sluggish economic recovery. This is significantly later than investors had expected.

How the Private Bankers Are Using the Financial Crisis to Reshape World Government

Archived from the live Mises.tv broadcast, this lecture was presented by Robert P. Murphy at the Mises Circle in Houston on 14 January 2012.

How is Europe Coping with the Financial Crisis?

In this week's edition of The Network, Chris Burns looks at rising anger across Europe as government after government imposes austerity measures.

Will Financial Elite Determine the Future in Davos?

Thousands of political and economic elites have gathered in Davos, Switzerland. At the World Economic Forum, discussions are held about possible resolutions for the world's largest problems. One key topic will be the Eurozone debt crisis which many believe could lead the world's economy into a downward spiral. Lauren Lyster, host of Capital Account, joins us for the latest from Davos.

Peter Schiff, "Europe is the Warm Up, but America is the Main Event"

America just had it's state of the union address, delivered by president Barack Obama. And although there might have been a lot of good rhetoric, what was the substance? Government assistance for home owners, or more backdoor bailouts for the banks? Is this just another way to roll over more debt onto an already bloated government balance sheet? It's one of the questions that we pose to Peter Schiff, CEO of Euro Pacific Capital.

David Morgan Discusses Silver & Gold Currency and Miners

David Morgan predicts the U.S. has another 2 or 3 years before the currency collapses. He also stakes out his predictions on where gold and silver are headed in the next year.

Turkey Booming as EU Continues to Languish

As Europe continues to grapple with its economic crisis, Turkey appears to be slowing its move toward EU membership. The economy is booming, and as it strengthens relationships in the Middle East, the country is debating whether its future lies more in the east than the west.

EU to Freeze Funds for Hungary

European Union finance ministers have endorsed the European Commission's view that Hungary has not done enough to bring its budget gap below the EU ceiling in a sustainable way. With the ministers endorsing the Commission's assessment, it could suspend up to 100 percent of cohesion fund for Hungary for 2013.

Adrian Day: "We Need to Look at China"

Adrian Day joins Kitco News from the Vancouver Resource Investment Conference to discuss why he believes Chinese markets require crucial and increased focus and scrutiny. For Kitco News, Daniela Cambone reports. Jan. 25, 2012.

Power is cut during live broadcast from Davos, Switzerland

As great minds gathered to discuss the world financial crisis in Davos, Switzerland, it seems some minor issues still have to be fixed there. Electricity supply was cut right in the middle of a live broadcast from RT's Lauren Lyster.

Brazil's Millionaires Increasing in Numbers

Brazil's booming economy has helped bring millions of more citizens into the country's middle class population in the last decade. According to a new report, the upper class is also rapidly expanding with 19 new millionaires a day in the world's fifith largest economy.

Keiser Report: Dangerous Species of Bankers

Every week Max Keiser looks at all the scandal behind the financial news headlines. In this episode, Max Keiser and co-host, Stacy Herbert, discuss Google searching Davos; the Federal Open Market Committee getting high on its own money supply; bankers leaving the planet to live in parallel universes and the evidence for the manipulation of precious metals.

India Abandons US Dollar to Purchase Iranian Oil

Every year India spends $12 billion on purchasing oil from Iran, but now it is using gold instead of dollars. India might not be alone; China has suggested it would jump on board with India. New Delhi and Beijing account for 40 percent of the Iranian oil exports. Priya Sridhar gives us her report.

Why Does the EU Join in Sanctions Against Iran?

The European Union has now joined the US and Canada in sanctions against Iran. The sanctions are an attempt to prevent Iran from furthering their nuclear enrichment program. Despite Secretary of Defense Leon Panetta admitting that Iran is not making nuclear weapons, the futile sanctions continue. The EU makes up for 20 percent of Iran's oil exports and many experts believe Iran won't feel the effects of the sanctions. Jamal Abdi, policy director of the National Iranian American Council, joins us to discuss the latest.

Danish PM: What's Good for Euro is Good for Europe

Denmark took over the rotating presidency of the European Union at the beginning of January, and its Social-Democrat prime minister stands out in a Europe dominated by the right. Helle Thorning-Schmidt recently presented her country's programme for the next six months to the European Parliament.

IMF Warns Europe is Global Recession Risk

As it cut its outlook for global growth, the International Monetary Fund warned that the eurozone debt crisis is escalating and dragging down the world economy.

The American Debt Imperium & the Mother of all Bubbles

Heads of state, central bankers, CEOs of multinational corporations and international financiers make up more than 1600 of the business leaders now pouring in from all over the globe to this tiny ski resort town of Davos for the world economic forum. It's invite only. High on the agenda is capitalism itself -- it's problems and it's future -- so what does this mean for the rest of us? We're there to fill you in. We will also hear from Lauren, who just checked in with us, later in the show. 

And back in the US, tonight is the President's annual state of the union address, but what really is the state of our union? Gerald Ford delivered those famous words during a time of rising trade and budget deficits, an expanding national debt and high unemployment. America had already started down the road to empire long before that, but almost 40 years later, what do we have to show for it?

Peter Schiff on whether "Made in America" is a Thing of the Past

The Made in the USA stamp has become harder and harder to come by. With companies shifting production overseas, it's no secret that many companies use this tactic to maximize profits.

According to a New York Times article, the US lacks the infrastructure anywhere from the supply chain to a skilled workforce. Peter Schiff, president of Euro Pacific Capital, joins us to discuss if Made in America will remain a thing of the past.

Marc Faber: US Dollar Purchasing Power Will Fall in the Next Few Years!

Marc Faber - Bloomberg Tv 22 Jan 2012

Escobar: EU Needs Iran's Oil, Shoots itself into Feet

Reports from Iran suggest a fierce reaction to the EU's move to impose an embargo on Iran's crude exports. To discuss the implications of fresh sanctions against Iran, RT talks to Pepe Escobar - columnist and 'Asia Times' correspondent, from Bangkok

EU Approves Tough Oil Embargo on Iran

In a move that comes with plenty of risks, not just for Iran but also for eurozone countries suffering the most in the Eurozone crisis, the European Union has decided to impose sanctions on the Islamic Republic.

All new contracts for crude oil and petroleum products between Iran and any of the EU's 27 member states will be forbidden under the embargo and all existing contracts have to be suspended by June. 

The US, which has imposed import sanctions on Iran since 1979, added its might behind the EU embargo on Monday by blacklisting Iran's Bank Tejarat, its third largest, and an affiliate, Trade Capital Bank.

There will be a review of the embargo on May 1, a month before all oil contracts cease.

Why Buy Silver as a Monetary Asset

Rallo says that Silver used to be a monetary asset in the past and still has a role for lower payments, however, he doesn't see as strong monetary demand for silver as there is for gold -- making it riskier in the short term as shown by its higher volatility. However, if more people decide to put their savings into silver, the silver market would become more liquid and thus more stable.

US Financial & Economic Collapse

In this edition of the show Max interviews Gonzalo Lira from LiraSPG.com. 

He talks about his latest news features covering the US financial and economic collapse for Latin American television, including TeleSur and also stations in Mexico and Argentina. 

Gonzalo Lira is an American novelist, filmmaker and economic blogger. Starting in 2010, Lira began contributing economic analysis to Zero Hedge, Naked Capitalism, Seeking Alpha and Business Insider; in Zero Hedge, one of his posts was the second most read of 2010.

Keiser Report: Sinking Ship In Credit Sea

In this episode, Max Keiser and co-host, Stacy Herbert, discuss captains of the financial industry abandoning ship while tripping into TARP. In the second half of the show, Max talks to former oil market regulator, Chris Cook, about the imminent collapse of the oil market and about the role of Goldman Sachs, BP and passive investors in driving the price of oil.

How to Fix the Housing Crisis | Douglas E. French

Archived from the live Mises.tv broadcast, this lecture was presented by Doug French at the Mises Circle in Houston on 14 January 2012.

Italy Deregulates for Competition

Italy's cabinet has approved new laws deregulating some service sector jobs and professions -- everything from taxi drivers to pharmacists, journalists, lawyers, doctors and dentists, even petrol station operators.

Eurozone Leaders Scramble to Save the Euro

Earlier this week Standard & Poor's of France downgraded the credit rating for nine countries in the Eurozone. French President Nicolas Sarkozy claimed that the downgrade "changes nothing." The Eurozone is the world's second largest economy and many economy experts believe that nothing could save the Eurozone. 

Edward Harrison, founder of Credit Writedowns, joins us to discuss how this could hurt the world economy.

Mike Maloney on Credit-Based Money,Feudalism,& Financial Enslavement

As the US heads into the presidential primary in south carolina, the most recent republican debate featured Newt Gingrich defending his moral values -- his marriage - , Mitt Romney defending his tax returns, and Rick Santorum defending his sweater vests, is there anyone is is actually making real sense in terms of dollars and cents? Is the lack of concentration and debate on the money issue, and the issue of the federal reserve system, of central banking and of fiat money helping to turn cash into trash?

We'll talk to Mike Maloney, founder of www.goldsilver.com about the path the US is now on, and whether or not that path is sustainable. We will also discuss the latest republican internecine conflict over capitalism and whether the debate is giving capitalism a bad name. 

After all, the leading contender is a millionaire with a 15 percent tax rate. Is this the kind of capitalism that is causing people to equate capitalism with inequality? What about the people fighting for real capitalism, the kind the really rewards hard work and punishes failure? The kind that doesn't subsidize the rich and big business? 

We will ask Mike Maloney, author of Rich Dad's Advisors, a guide to investing in gold and silver, about this as well, and we will also speak with him about the precious metals space and how to protect yourself from currency debasement.

China Becomes Africa´s Biggest Trade Partner

Eurocrisis is a Global Crisis

Gerald Celente: Occupy Movement is just Starting

We are not even a month into the New Year and there are many controversial laws that are in the works or have been passed. From SOPA, Stop Online Piracy Act, to the NDAA, National Defense Authorization Act, many Americans feel their liberties are slowly slipping away.

The Occupy Wall Street movement has been more than vocal with their dissatisfaction with the job Congress has been doing and Gerald Celente, director of Trends Research Institute, joins us to discuss an array of topics and gives us some of his predictions for 2012.

Keiser Report:Scam On Epic Scale

In this episode, Max Keiser and co-host, Stacy Herbert, discuss 419 scams and Tim Geithner's gimp. In the second half of the show, Max talks to financial blogger and semi-retired Wall Street executive Warren E. Pollock about MF Global, wealth confiscation and bank holidays.

China Releases Key Economic Figures for 2011

Latest figures show that China's economy maintained steady progress during the 2011. Total trade volume and the use of foreign direct investment have both seen steady growth while exhibiting new features at the same time. Meanwhile, with economic woes haunting the US and the EU, trade and investment with emerging economies showed growing momentum.

Against a gloomy international economic environment, China's domestic consumption as well as foreign trade maintained relatively rapid growth in 2011.

Total domestic retail sales for 2011 saw a 17% year-on-year growth, an inflation-adjusted increase of over 11%.

Latin America Migrants Run Away from the Spanish Crisis

In December 2001, Argentina went through its strongest economic, social and political crisis. Thousands of Argentinians were forced to leave the country seeking better life and job opportunities in Spain, the most popular destination in the European Union for new immigrants at that time.

French Unemployment Becomes Key Issue

Some French people are upset with their country's unemployment situation, which has reached nearly 10 per cent. To calm people's nerves, Nicolas Sarkozy, France's president, has been holding a summit to cut the country's unemployment rate, but he has apparently failed to convince the public of his ability to lower unemployment.

Marc Faber: Correction in Gold is not over yet!

Marc Faber - Fox Business News - 17 January 2012

Peter Schiff: U.S. is In Worse Shape Than Europe

Jan 13, 2012 - Euro Pacific Capital CEO Peter Schiff sounds off on the U.S.'s ballooning deficit and Obama's request to raise the debt ceiling.

Keiser Report: Economics of Suicide

In this episode, Max Keiser and co-host, Stacy Herbert, cover the great unmentionables: Ron Paul, Vermin Supreme and blackstonesucks.com. In the second half of the show, Max and Stacy discuss Treasury Secretary Geithner trying to coax China into committing economic suicide and learning your maths in America by counting slaves.

China's Economic Growth Weakens

Growth in the world's second biggest economy, China, slowed to its weakest pace for two and a half years at the end of 2011.

"Money and Power: How Goldman Sachs Came to Rule the World"

In this edition of the show we discuss the book Money and Power: How Goldman Sachs Came to Rule the World, written by William Cohan.

The book's behind-the-scenes account shows how, supported by the most aggressive and sophisticated PR machine in the financial industry, Goldman Sachs has continually projected an image of being superior to its competitors - smarter, more collegial, more ethical, and more client-focused.

Kirkuk: Financing the Future

Kirkuk lies on the well of Iraqi oil. The ethnically diverse city contains 40 per cent of the country's oil exportation, while representing just 2.2 per cent of its territory.

The town is located in the northern region of Iraq, around 250km from Baghdad. With the recent withdrawal of US troops, protecting this veritable goldmine is a high priority.

Who are the rating agencies serving?

Press TV interviews Max Keiser, journalist and broadcaster in Paris about the credit rating agency's role in having nations impose austerity measures on the people of Europe and the damage this is causing to sovereign nations.

Striking Greeks Bring Transport to a Halt

Striking Greek workers have brought the Athens metro to a standstill and kept ferries docked in protest against austerity measures, as the country's lenders visited the capital to try to avert a debt default.

India Opens Stock Market to Foreigners

India has opened its doors to individual foreign investors who want to put their money into Indian stocks. 

The country has up until now limited how much foreigners can own or invest in Indian businesses by regulating it through packaged products offered by banks and financial institutions. 

With India's economic growth increasing, opening the stock market to foreign investors indicates the country's willingness to do business with the global business community. But some people do not agree that this is a good move

Europe Anti-Austerity Rallies Turn Ugly

Police forces have clashed with anti-austerity protesters in Spain, Greece, and Romania, arresting several activists and injuring many others.

Jim Rogers: Lazy Bank & Ratings Clique Must Take a Hit

European markets haven't let the massive ratings downgrade cast a shadow over trading today, with only a slight fall. On Friday, ratings giant Standard and Poor's slashed the scores of 9 EU nations, including the triple-A scores of France and Austria. RT talks to Jim Rogers, a financial commentator and co-founder of Quantum Hedge Fund.

Analysing Europe's Economic Crisis

Al Jazeera's Jacky Rowland and Jonah Hull report from Paris and Madrid on the latest developments in the economies of eurozone countries, as the French and Spanish leaders meet for talks.

Sarkozy Breaks Silence after French Downgrade

Nicolas Sarkozy has called on French people to resist and fight in the face of the crisis, two days after France saw its credit rating downgraded by a leading agency, Standard & Poor's.

Gold-paved Gulf Cities Mere Mirage for Indian Migrants

Some regions of India are seeing a mass movement of people seeking their fortune abroad. Enticed by the promise of prestige jobs and big money, all too often they find only physical and mental exploitation at the end of their journey. ­Kerala state in India is famed for its beautiful beaches and the country's highest health and literacy rates. But it is also known for something else -- a darker side.

Suicide Rate Drives up in Greece After Recession

So far this week, a 27-year old woman and a 54-year old man hanged themselves, an 80-year old man set fire to himself and another 88-year old man also hanged himself while another 45-year old man used the rope to tie the final knot.

Iran, Venezuela Carry Out Joint Projects

During the five past years, Iran and Venezuela have developed a number of projects led by Presidents Mahmoud Ahmadinejad and Hugo Chavez. The close relationship between the two countries began when Ahmadinejad's predecessor Seyed Mohamed Khatami and Chavez signed a framework agreement in Teheran.

Counting the Cost - Who Needs the IMF?

Hungary resumes loan negotiations with the IMF and the EU, Egypt's economy is faltering - and who benefits from piracy?

French Downgrade Timing is Dire for Sarkozy

Three months from a presidential election, France's credit rating downgrade is the last thing Nicolas Sarkozy needs.

Keiser Report: Wall Street Gangsta!

Every week Max Keiser looks at all the scandal behind the financial news headlines. In this episode, Max Keiser and co-host Stacy Herbert discuss corruption with a clean face and Jamie "Spaghetti Face" Dimon. In the second half of the show, Max talks to investment adviser and blogger Michael Krieger about Ron Paul, the Fed and political futures.

Italian and Spanish Debt Costs

Italy's borrowing costs plunged in its first auction of government bonds of the new year.

Egypt's Hushed Economic Crisis

Egypt's prime minister says the country is in the middle of an economic crisis and that most people there are not even aware of it. Foreign investors continue to pull their money out of the country, prices are rising and the tourism sector has taken a hit.

Keiser Report: Death by Thousand Revelations

In this episode, Max Keiser and co-host, Stacy Herbert, discuss death by a thousand revelations and destroying the City to save the City. In the second half of the show, Max talks to author, Nomi Prins, a former investment banker, about the role of JP Morgan in Jon Corzine's MF Global crime.

Portuguese Seek Jobs in Former Colonies

Portugal has been hit hard by Europe's economic crisis, with its economy continuing to shrink and unemployment still rising. Many Portuguese have been forced to leave their country to seek a brighter future, and an increasing number are applying for visas to former colonies such as Mozambique, Brazil and Angola.

Keiser Report: Hollywood Cons Congress

In this episode, Max Keiser and co-host, Stacy Herbert, discuss copyright and how Hollywood cons Congress by using Wall Street accounting. In the second half of the show, Max talks to Amir Taaki about hackers, piracy, technology and bitcoin.

China-ROK Trade Enjoys Rapid Development

One of the goals of South Korean President Lee Myung-bak's visit to China is to speed up negotiations over a free trade agreement.As Andrew Dupuis finds out, bilateral trade between China and South Korea has seen rapid development over the years, with great potential waiting to be unleashed. For years, China has been South Korea's largest trading partner and largest export market, with 30% of South Korea's total exports heading to China.

Gonzalo Lira, "People quietly moving their money and themselves out of the US"

Could you imagine paying someone to lend him money? In a normal world...if I lend you money, I want something in return. It costs money to borrow money. Can you imagine a world where I'm so desperate to lend you money that I'm willing to pay you to do it? That's the paranormal world we're living in today. Pretty unbelievable, but now it's just happened in Germany.

The government auctioned off 2.9 billion euros in six-month notes. The yields were negative. The investors paid the government to lend them their own money. This in the era of the eurozone debt crisis where people appear more concerned with the return of their money than a return on their money.

Detroit Auto Show Opens Amid Signs of Recovery!!

As the Detroit Auto Show opens the US car industry is celebrating a total turn-around, gearing up for good times having morphed from meltdown three years ago to robust health now.

France & Germany Push Controversial Tobin Tax

The idea of taxing financial transactions has resurfaced with both Paris and Berlin agreeing such a levy in the EU should be imposed.

Switzerland's Central Bank Chief Resigns

The Swiss National Bank chairman has resigned abruptly, bowing to a public uproar over his private currency deals. Philipp Hildebrand's decision comes just as a Swiss parliamentary committee is preparing to grill him behind closed doors. His resignation took effect immediately on Monday, Switzerland's central bank said in a brief statement.

DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY.

James Turk:"We Could Easily Go Over $2000 per Ounce" for Gold in 2012

This is the web exclusive of our Capital Account interview with GoldMoney founder James Turk, from Wednesday, January 4th 2012. In this web extra, James Turk speaks makes a prediction about where the price of gold will head in the new year, along with his outlook for central bank printing, and the problems in europe in light of increased liquidity hoarding by banks at the ECB's deposit facility. 

James Turk also reminds us that nothing moves up always and forever, and the type of correction we have seen in gold recently is normal, and a good buying opportunity.

Keiser Report: Spiral of Debt Towards the Paranormal

Every week Max Keiser looks at all the scandal behind the financial news headlines. In this episode, Max Keiser and co-host, Stacy Herbert, discuss Brits using payday loans to pay off interest only mortgages while Greeks bury their cash for fear of being Gaddafi'd by the banksters. In the second half of the show, Max talks to David Morgan of Silver-Investor.com about silver, Sprott and bonds.

Banking System Crisis - On the Edge with Max Keiser

In this edition of the show Max interviews Paul Craig Roberts, Economist &Author. He talks about the rampant and increasingly blatant banking frauds in the US and around the world. Paul Craig Roberts is an economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as a co-founder of Reaganomics.

What Crisis? 'Austerity-hit' Italians Run for Luxury Sales

Thousands of people packed the streets of central Rome on Thursday eager to get a bargain as the first day of sales began. On Rome's chic Via Condotti there were lines outside expensive designers stores. Shoppers said they were eager to take advantage of sales despite the economic crisis. Dozens of people stood in line outside the exclusive Cenci store in the morning, waiting to be among the first to bag a bargain.

Hitler Precious Metals Cartel Parody

enjoy!

Italian Austerity Plan Endangers 30,000 Jobs

Friday, the Ministry for Economic Development announced that over 30,000 jobs are in imminent danger of being swept away.

Rising Inequality in Canada Demands Attention

By noon on Tuesday, the first working day of 2012, Canadian CEOs made over 44 thousand dollars, which is the amount the average Canadian earns working full time for the entire year. That is according to the latest report by the Canadian Center for Policy Alternatives.

EU Agrees 'in Principle' on Iran Oil Embargo

The European Union has agreed to ban oil imports from Iran, pending a final decision to be made at the end of the month. Despite Iran's rejection of accusations by Western nations that its nuclear programme is in fact a weapons programme, the EU aims to cut off funding to it.

Keiser Report: Wall Street Saints Above God & Law

On this episode of the Keiser Report, Max Keiser and co-host, Stacy Herbert, discuss big lies, big cojones and the government eating your homework. In the second half of the show, they discuss Obama's request for $3 from Stacy while signing an order allowing him to indefinitely detain her and the Princeton students mic checking JP Morgan.

Jim Rogers - Outlook for 2012

Jim Rogers - CNBC - 03 January 2012

German Unemployment Down More Than Expected

Germany continues to buck the European trend for unemployment.

Another Year Older and Deeper in Debt

It has been calculated the world's top economies have 5.8 trillion euros worth of borrowings they will have to pay back in 2012.

Jim Rogers - Gold Could Go to $1,200-$1,300/oz

Jim Rogers believes investors are currently a little too bearish on the euro and that gold is overdue for a correction but,he remains bullish on commodities in general.

January 3, 2012
SINGAPORE (REUTERS)

The euro could rebound in the near-term despite the problems affecting continental Europe, as investors are overly bearish on the currency, investor Jim Rogers said on Tuesday.

Rogers, who co-founded the Quantum Fund with George Soros in the 1970s and is a well-known commodities bull, also said he remains bullish on commodities in general but expects gold will drop further given the run-up over the last 10 years.

"In my view, gold could go to $1,200-$1,300 (an ounce)... Gold has been up 11 years in a row which is extremely unusual in any financial asset so gold is overdue for a correction," he told Reuters Insider in Singapore where he now resides.

"Agriculture is what I own a lot of," he added.

Spot gold rose as much as 1.4 percent to $1,586.95 earlier on Tuesday, helped by investors renewed appetite for riskier assets.

The precious metal has, however, lost about 15 percent of its value since it hit a high of over $1,900 in early September.

On currencies, Rogers said he has a short-term bet on the euro as investors appeared too pessimistic.

"I own the euro just because there are so many people bearish and so many shorts in the euro. I do suspect that the euro will survive, in one form or another," he said.

He added, however, that he had short positions on European stocks.

He said he was still holding onto his long dollar positions given the market uncertainty. Rogers has been critical of the U.S. Federal Reserve for buying bonds with newly printed money, which he said will debase the currency over the medium term.

"People, rightly or wrongly, when there is international turmoil, put their money in U.S. dollars. It is the wrong thing to do but that's what they do, so I still own my dollars," he said.

Germany Booms Despite Eurozone Woes

There was not much positive economic news out of Europe in 2011, but the new year got off to a good start in Germany at least. The country's national statistics office has announced that more than half a million jobs were created last year despite the Eurozone crisis leaving that number at 82 million - a record for Europe's largest economy.

Is the Euro Crisis Over?

William K. Black, Paolo Manasse, and John Weeks discuss the Euro and the danger of global recession

Empire - Extra: It's the 'Stupid' Economy

Over the last four years the US household income has declined by almost 10 per cent. One in ten adults is unemployed and one in six is living on food stamps. The recent occupy protests are just the latest to question the American dream.

A Decade of the Euro

On new year's day 2002 euro notes and coins hit the streets for the first time. They were introduced with much enthusiasm and optimism as a currency that people could actually spend in the shops.