Monday, February 28, 2011

Jimmy Rogers........

The one thing the smartest kid ever to come out of Alabama is known for is talking his book.  He has his money where his mouth is.  Hard to fathom a young upstart from Alabama and the Palindrome working side-by-side but money makes for strange bedfellows.    Of course it can also estrange great friendships.

Here is Jimmy Rogers today on ZEROHEDGE.com,  the finest financial website on the planet.

Jim Rogers joins Zero Hedge in being highly skeptical about just how credible Saudi's call for a 1MM + boost in its oil supply is: "Saudi Arabia has been lying about the reserves for decades. Saudi Arabia the last two times said they are going to increase production and they couldn't increase production. Don't fall for that. The reason oil is going up is the world is running out of known reserves of oil." Of course, then there is the question of do we trust the Quantum fund creator who retired at 37, or do we go with the sellside lemming brigade of monkeys with typewriters who will groupthink anything and everything to death, just to get paid another completely unwarranted bonus. As to those who are concerned that the commodity "bubble" is about to pop, Rogers says: "It's still years away." And some reinforcement for the gold and silver bulls: "Gold will certainly go over $2,000 by the end of the decade, and silver will pass $50."

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