Jim Rogers Talks Gold, Silver and Their Parabolic Moves

As the State moves to devalue the beloved dollar, hopefully many of you have been purchasing gold and silver. The physical metals have been on a tear of late and the miners have been doing quite well. For those that are so inclined these last few months have been like the dot com era of the late 90's.

Jim Rogers is a commodity hero of sorts in the trading world. He has been talking about the precious metals since the printing presses have been turned on as well as the deepening debt whole Bush and Obama have dug for us.

Lew Rockwell via Business Intelligence Middle East has an interview with Jim Rogers discussing the future of the gold run.

Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers warned that if silver continues to go up like it has been over the past 2 or 3 weeks and reaches triple digits in 2011, he will probably start to think about selling because then 'you've got a bubble'.

Speaking to Financial Survival Radio, Rogers said: " My hope is, silver and gold and all commodities will continue to go up in an orderly way for another ten years or so, and eventually the prices will be very, very high".

"I hope something stops it going up in the foreseeable future and we have a correction," he added.

Explaining his wish, Rogers warned that "a parabolic move and all parabolic moves end badly".

Most investors don’t notice something until there’s a good, nice bull market in place, such as with gold and silver, he said, adding after ten years of price rises in gold, people are starting to notice.

"Eventually, everybody’s going to be owning gold, and then we’ll all have to sell our gold. But that’s a long way from now, he predicted.

The legendary investor doesn't consider the recent increases in precious metals as parabolic.

"If silver continues to go up like it has been over the past 2 or 3 weeks, yes, then it would get to triple digits this year. And then we’ll have to worry. It’s not parabolic yet".

"There’s never one in history that hasn’t popped," he noted.

The price of gold bullion jumped above US$1500 per ounce on Wednesday, setting new Dollar and Sterling highs but falling sharply against the Euro as the single currency rose to its highest level since 2009.

"Silver prices remain very strong, but seem to have run ahead of the fundamentals," says bullion bank Scotia Mocatta's latest Metal Matters monthly.

With silver setting its 8th new 31-year high in 13 trading days so far in April, "If gold corrects expect silver to follow," says Scotia. "Longer-term [gold] investors generally seem comfortable to hold their existing positions...[yet] the level of interest is low considering how much uncertainty there is in the market and how weak the dollar has been."

Rogers advises watching the dollar and the price action in deciding when it is time to exit precious metals.

The Herd is All For Taxing the Rich But Keep Hands Off Medicare

The herd in America may want the debt and deficit controlled but it appears that no one is willing to take the pain of solving the problem. We have to be the most selfish group of people in human history. Many of our citizens, as well as politicians, choose only to see what is today and not plan for future generations and their tomorrows.We will bankrupt the country because we want what IS MINE, NOW! And we want someone else to pay for it. It's pathetic.

Agora Financial via 5 Min Forecast reports:

An overwhelming majority of the general U.S. populace polled by The Washington Post insists the government “keep its hands off Medicare.”

A smaller majority want to keep military spending intact. The only thing that gets majority support is raising taxes on incomes over $250,000 a year.

Awesome.

We’re all for it. But only if we enact legislation that completely dissuades people from innovating and starting new businesses while we’re at it. Let’s nationalize a few more industries too. We’ve already locked up mortgages and the auto industry… let’s shoot for oil and gas next.

If the U.S. is going to go the way of Venezuela, we might as well get it over and done with.

Police Arrest 11-Year Old for Drawing Violent Stick Figures at School

I have to wonder about the power police seem to wield in this country. If they would simply protect and serve that would be one thing but apparently they are tasked with providing the nanny state with force.

I was astounded to read that they arrested an 11-year old in Colorado because the kid drew a violent depiction with stick figures of shooting a teacher at school. The came to the boys house and put him in handcuffs, fingerprinted the boy, took his mug shot and placed him in a cell.

The boy is in therapy. His therapist said it was best for him to draw when he felt like he would act up. The school knew he was in therapy. The boy was charged with a third degree misdemeanor, interfering with staff and students at an educational facility.

From The Blaze via KDVR-TV:

The school was aware that the boy was in treatment, determined he was not a threat, notified his parents and sent him back to class. His mother, “Jane” was shocked when Arvada Police showed up at their home later that night.

She says she told her son to cooperate and tell the truth, but was horrified when they told her they were arresting him and then handcuffed him and hauled him away in a patrol car. His mother says she begged police to let her drive her son to the police department and to let her stay with him through the booking process but they refused.

They put him in a cell, took his mug shot and fingerprinted him. He says he thought he was going to jail and would never be able to go home again.

According to the police report, “Tim” explained he made the drawing to release anger and would never hurt teachers or anyone. At first the school did not want to press charges, but changed their mind when police called them later that night. A juvenile assessment report shows he’s never been in legal trouble before and is at low risk to reoffend.

He’s charged with a third degree misdemeanor, interfering with staff and students at an educational facility. The system says it’s doing what’s in the best interest of the child. But Tim’s therapist says handcuffing an 11 year old and putting him in a cell over something like this is “quite an overreaction” and does much more harm than good.

This is why we homeschool. This is why I believe some police are acting like the ghestapo in controlling the herd. It is truly scary.