In the interview below, Jim Rogers discusses with RT how much danger the global economy is in right now, specifically because Deutsche Bank is teetering on collapse, but that is just one of many potential reasons the global economy is in danger. Jim is very blunt in his response about what a Deutsche Bank collapse would mean for the world. Jim says, “If Deutsche Bank goes bankrupt, it is going bring down the entire world financial system.”
Who is Jim Rogers? Why should you care what he says? First of all, listen to him because he’s right. Start learning facts, and stop listening to mainstream media propaganda. They are lying. Your life may depend on being prepared. Second, Jim is hardly alone in his line of thinking.
Many of the world’s best economists are saying a global reset is coming that will have an effect on the world like nothing mankind has ever seen before. One famous investor even goes as far as to say the collapse of the U.S. Dollar, and the global reset that follows it, will be the single biggest event in all of human history. Let that sink in…
Third, and lastly, you should care what Jim Rogers says because Jim is a legendary investor, one who co-founded the Quantum Fund, and retired at age thirty-seven. Do you know who his partner used to be? George Soros. Do you recall who is involved in virtually every major geopolitical firestorm anywhere on the planet, including the U.S. presidential election right here domestically?
Jim used to be partners with George Soros. Needless to say, Jim knows a thing or two about currencies, and he knows all about currency collapses as well, considering George Soros’ two nicknames in global currency markets are 1) “The man who broke the bank of England; and 2) The Currency Killer.
In an interview included at the bottom of the article, Jim Rogers is asked by RT if the economy is really as bad as some are saying, and if it’s going to get worse. Jim’s response is quite animated. He says:
“Of course it’s going to get worse. You SHOULD be worried … Get KNOWLEDGEABLE, get WORRIED, and get PREPARED! It’s going to be MUCH worse, and worldwide!”
The main reason the US government wants $14 billion in penalties from the German bank is that it is deep in debt. They’ve got a gigantic deficit – they are desperate for money. They’ll try to get it anywhere they can, Jim Rogers, financial commentator and investor, told RT.
Germany’s Deutsche Bank reportedly failed to reach an agreement with the US on settling a massive fine. The bank is facing a $14 billion fine penalty from the US Justice Department for mis-selling mortgage securities in the run-up to the 2008 financial crisis.
RT: Firstly just to make it clear why has the US imposed such an enormous penalty?
Jim Rogers: The main reason is that the US government is deep in debt. They’ve got a gigantic deficit – they are desperate for money. They’ll try to get it anywhere they can. I can’t imagine that Deutsche Bank should be liable for $14 billion, but I’m not involved.
RT: The bank said it won’t pay anything near to what the US has asked for – how will this be settled?
JR: Either Deutsche Bank goes bankrupt, which is going bring down the entire world financial system, or they are going to come up to some kind of compromise at a lower number. If Deutsche Bank does have to pay $14 billion – you should be very worried anyway, but especially if they have to pay $14 billion.
RT: How desperate is Germany’s main bank at this point? Will it survive without a bailout?
JR: If you look at its balance sheet you will see it has huge, staggering debts both on balance sheet and off balance sheet, which means their debts that they don’t reveal directly. It probably will survive if it has support, but otherwise we all are going to have huge problem in the next couple of years. I’ve told you before: you should be very worried. The western world, the world is going to have a lot of problems the next couple of years. Be worried!
RT: Just back in August the US was furious over the EU’s decision to demand billions of euro from Apple in back taxes. Many see the recent scandal around Deutsche as revenge from Washington. What’s your take on that?
JR: These governments do play tic-tac-toe and tic for tac over and over again, which is not good for any of us. But that is what they do. You give these bureaucrats power – they take it and they run with it. Power corrupts, it has been happening for hundreds of years.
RT: In the event Deutsche Bank fails what would that mean for the EU and the financial world in general?
JR: Then the EU would disintegrate, because Germany would no longer be able to support it, would not want to support it. A lot of other people would start bailing out; many banks in Europe have problems. And if Deutsche Bank has to fail – that is the end of it. In 1931, when one of the largest banks in Europe failed, it led to the Great Depression and eventually the WWII. Be worried!
Germany has been rightly telling everybody not to bail out their banks, but if they have to suddenly bail out their banks, then other countries will be furious and the politicians will have a field day.
Below you can watch the interview I mentioned above between Jim and RT, but unlike the interview about Deutsche Bank, it was filmed 3-4 months ago. Personally, I think the interview is more relevant today than it was when it was filmed. Why?
Presumably beccause very few people seem to be too worried about the coming crash for whatever reason, the host asks Jim Rogers if he thinks “every day people” will be able to “feel” a global crash in their daily lives. Absolutely Jim says.
No matter how hard people like myself try to ring the bell about how bad the coming conditions are going to be, and no matter how hard we try to warn people to begin preparing NOW, the severity of what lies ahead is just not sinking in with far too many of the American people!
Aside from 2008 when some families lost jobs and homes, most “ordinary people” don’t normally “feel” the effects of the economic headlines discussed by the media in their day-to-day lives, so talk about a “global reset” probably feels like much of the same, but it is NOT!
For anyone under age 70, they’ve never known this planet to have any other global reserve currency other than the U.S. Dollar. Furthermore, no one who has ever lived has been a part of a truly global economy like the one we have today, so no one has ever seen what the collapse of a global reserve will look like, not unless they’ve studied or looked into it.
HINT: There’s a reason Peter Schiff says the collapse of the U.S. Dollar, and the global reset that follows it, will be the single biggest event in all of human history.
In the interview below, Jim’s says what SHOULD be obvious to everyone… but apparently to most people it isn’t somehow, and that’s sad. Referring to some of the chaos we’re already seeing, he says:
“If this is happening now, with the stock market soaring and unemployment a bit lower than it was during the depths of the last recession, what is going to happen when things start getting really bad in this country?
Desperate people do desperate things, and if people are willing to hurl rocks and set horses on fire because they are upset at a political candidate, what are they going to do when there is no food for their families?”
How many Americans realize that the United States imports almost 50% of our food, and we already have a trade deficit of almost $1 trillion dollars. How do they think we’ll get that food with a worthless U.S. Dollar? You might want to check out the post titled, How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)
For anyone who is still lucky enough to have a job, and still be working, it is absolutely crazy if they have not started making preparations for bad times. What’s the worst that can happen?
Can you ever be too prepared? For all the irresponsible comments Barack Obama has made about a nonexistent recovery, even he recently gave a speech where he said Americans cannot depend on government for everything, and they MUST begin making preparations for severe emergencies.
This past weekend I was near Jacksonville, Florida for Hurricane Matthew. I traveled west to a location one would expect to be “safe.” The video below shows what it was like when I walked outside at night. Not only did we lose power, we lost all backup generators too.
As you’ll see, there wasn’t enough light to see your fingers in front of your face. It was a criminal, or looters paradise. Speaking of looters, did you know the day after Matthew passed, Black Lives Matter announced it would be heading to ravaged cities to rob and loot people.
Gerald Celente, founder of the world famous Trends Research Institute, has a saying he likes to use when he talks about instances when society collapsed or broke down, even if just for a short time. He says:
“When People Lose Everything, They Have Nothing Left To Lose , And They Lose It”.
Would you be ready if economic or societal conditions went south, and people began to “lose it?” I practice what I preach, so I was prepared to be holed up for over two months if necessary. My question to you, is are you prepared? Would you have been prepared if Black Lives Matter showed up at your door in that pitch black? Obviously I had flashlights, but I left them off in the video to make a point. Besides, I’d imagine it would take more than a flashlight to ensure safety in that situation
For those of you who are finally starting to realize there is major trouble on the horizon, largely as a result of the failure of the U.S. Dollar and Western banks, deteriorating conditions socially domestically, and nuclear tensions reaching all new heights, then I suggest you get your FREE GUIDE for how to survive Martial Law here, because if/when things begin to go south, by then it will be too late to do anything about it. The writing is on the wall everywhere…
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