Veteran financial guru Jim Rogers warned CNBC viewers today that the stock market has yet to hit a bottom despite people ploughing their money back into a sucker’s rally, as the Bilderberg Group’s plan to pull the rug out from under euphoric investors draws closer.
Rogers said that central banks “flooding the world with money” only attempts to solve the problem of too much debt with more debt and “defies belief,” adding that the method will not work because governments have failed to address the underlying problems that caused the crisis in the first place.
“I mean … you give me 5 or 6 trillion dollars, I’ll show you a very good time, there’s no question about that,” Rogers said.
“I’m not buying shares if that’s what you mean. Not at all,” Rogers told Squawk Box Asia.”The bottom will probably come later this year, next year, who knows when,” he added.
Rogers’ sentiment is given weight when one considers the noises coming out of the secretive Bilderberg cabal during this year’s conference in Greece.
As we reported last week based on investigative journalist Daniel Estulin’s inside sources, investors, whipped up into a false state of euphoria by the belief that the economy is recovering, are being suckered into ploughing their money back into the system as a set up for “massive losses and searing financial pain in the months ahead” as the stock market reverses its uptrend and plummets to new lows.
Rogers told CNBC he was still favorable towards commodities and precious metals because they were the only sector where fundamentals were getting better.
Watch the video below.
This article was posted: Wednesday, May 20, 2009 at 9:23 am