MONEY.
PROFITS IN THE MACAU BUSINESS
FALLING SHORT STOCK DOWN 4% AS
WE SPEAK.
>>> I WANT TO BRING IN JIM
ROGERS.
HE IS THE CHAIRMAN OF ROGERS
HOLDING
>> BUT PROBABLY COMING,
BEGINNING LATER, CRASHES DON'T
HAPPEN IN ONE DAY.
MARKET WILL GO UP FOR A WHILE.
I'M OPTIMISTIC ABOUT THE U.S.
STOCK MARKET AND ASIAN STOCK
MARKET.
IT WILL GO UP, SOMETIME LATER
THIS YEAR OR NEXT THE DECLINE
WILL START IN.
IT DOESN'T HAPPEN IN A DAY.
STUART, WHEN I SAID IT WILL BE
THE BIGGEST MARKET DOWNTURN IN
MY LIFETIME, THAT IS NOT SO
STRANGE TO ME.
2018 WE HAD A PROBLEM -- 2008 WE
HAD A PROBLEM BECAUSE OF TOO
MUCH DEBT.
STUART, THE DEBT HAS SKYROCKETED
SINCE 2008.
SAYING IT WILL BE WORSE IN MY
LIFETIME, HOW WOULD IT NOT BE?
STUART: YOU'RE A DEBT BOMB GUY?
THE CRASH IS COMING, HUGE
SELLOFF IS COMING BECAUSE OF
DEBT.
YOU SAY, I ASKED YOU WHEN, YOU
KIND OF HEDGED A LITTLE.
MAYBE LATE THIS YEAR, EARLY NEXT
YEAR.
AND THEN I ASKED WHY, YOU SAY IT
IS THE DEBT BOMB.
THAT IS YOUR SCENARIO HERE?
>> YES.
STUART, DO YOU REMEMBER 2008 AND
2009?
THAT WAS BECAUSE OF GIGANTIC
DEBT.
IT IS GETTING WORSE.
IT IS MUCH WORSE NOW.
THE FEDERAL RESERVE ALONE'S
BALANCE SHEET IS UP 500% SINCE
THEN.
BY THE WAY, JANET YELLEN SAYS
WE'RE NEVER GOING TO HAVE
ANOTHER BEAR MARKET IN OUR
LIFETIME.
SO, MAYBE YOU SHOULDN'T LISTEN
TO ME.
STUART: ALL RIGHT.
I'M LISTENING, AND I UNDERSTAND
THAT YOU'RE IN MIAMI FOR A
BLOCKCHAIN AND A CYBERSECURITY
CONFERENCE.
OKAY, JUST STRIP OUT ALL OF THAT
FOR A SECOND.
WHAT DO YOU THINK OF
CRYPTOCURRENCIES?
ARE YOU INVESTING?
>> WELL, I HAVE NEVER BOUGHT A
CRYPTOCURRENCY.
THIS BLOCKCHAIN CONFERENCE, BUT
OF COURSE THAT INCLUDES
CRYPTOCURRENCIES.
THEIR THEORY, IF THEY EDUCATE
PEOPLE, THEY HAVE AMAZING
SPEAKERS, THAT EVERYTHING WILL
BE UNDERSTANDABLE AT LEAST.
I HAVE NEVER BOUGHT A CYBER
CURRENCY.
BLOCKCHAIN IS CERTAINLY GOING TO
BE A GREAT CHANGE FOR ALL OF US.
IT WILL CHANGE THE WORLD AS WE
KNOW IT.
I'M NOT SO SURE ABOUT
CRYPTOCURRENCIES.
STUART: BLOCKCHAIN THOUGH, IN
WHAT WAY DOES IT CHANGE THE
WORLD AS WE KNOW IT?
WHAT IS THE GREAT OPPORTUNITY
HERE IN BLOCKCHAIN?
>> I WISH I COULD FIGURE THAT
OUT.
I HOPE I WILL LEARN AT THIS
CONFERENCE BECAUSE I HAVEN'T
FOUND A BLOCKCHAIN INVESTMENT
YET.
BUT, STUART, IN CHINA, FOR
INSTANCE, THEY DON'T HAVE MONEY.
I TRIED TO BUY AN ICE CREAM CONE
OTHER DAY.
POOR WOMAN COULDN'T SELL IT
BECAUSE I HAD MONEY.
I DIDN'T HAVE ON MY PHONE TO PAY
FOR IT.
SHE GAVE ME AN ICE CREAM.
I WISH I WAS BUYING A MERCEDES.
STUART: YOU THINK BLOCKCHAIN
SOLVES THIS PROBLEM?
BLOCKCHAIN, DOES WHAT?
TELL ME WHAT IT DOES FOR ME.
>> WELL, FOR ONE THING INSTANTLY
PAYS EVERYTHING.
INSTEAD OF, IF YOU AND I GET A
BILL.
WE SEND A CHECK IN, IT IS
PROCESSED.
HAS TO GO THROUGH THE VARIOUS
DEPARTMENTS TO THE BANK.
THE BANK HAS TO PAY.
IT IS ALL DONE AUTOMATICALLY.
THIS IS A MIRACLE FOR SOMEBODY
LIKE ME WHO BARELY UNDERSTANDS
COMPUTERS.
IT IS ALL DONE INSTANTLY WITH A
LOT LESS PAPERWORK, A LOT LESS
PROCESSING.
STUART: JIM ROGERS, HAS NOT YET
DECIDED HOW TO GET INTO THE
BLOCKCHAIN TECHNOLOGY?
>> STUART, IF I FIND OUT AT THE
CONFERENCE TODAY AND TOMORROW I
WILL LET YOU KNOW.
STUART: WHAT IS YOUR MAJOR
INVESTMENT RIGHT NOW?
WHAT IS IT?
IS IT IN A STOCK?
IS IT IN A BOND OR WHAT IS IT?
>> I OWN A LOT OF U.S. DOLLARS
BECAUSE THE U.S. DOLLAR IS DOWN.
IT WILL GO HIGHER.
I GUESS I OWN A LOT OF CHINESE
SHARES, RUSSIAN SHARES, JAPANESE
SHARES.
ASIA, I'M MORE INTERESTED IN
ASIA.
THE JAPANESE STOCK MARKET IS
DOWN 50%.
U.S. STOCK MARKET IS NEAR
ALL-TIME HIGHS.
I KNOW YOU BUY LOW AND SELL
HIGH, STUART.
I HAVE KNOWN YOU A LONG TIME.
STUART: DISHING OUT THE
COMPLIMENTS THIS MORNING.
THAT'S REAL GOOD, JAMES.
>> ALL I SAID WAS I'VE KNOWN YOU
A LONG TIME.
I DON'T KNOW IF THAT IS A
COMPLIMENT OR AN INSULT.
STUART: YOU LIVE IN SINGAPORE
NOW ADAYS?
>> I DO LIVE IN SINGAPORE BUT
I'M IN MIAMI TODAY FOR THIS
BLOCKCHAIN CONFERENCE.
STUART: JIM ROGERS, THANK YOU
VERY MUCH FOR JOINING US.
ANYTIME YOU WANT TO COME ON THE