Exclusive – Jim Rogers: “MF Global to Help Push Commodities Business Away from Chicago and Towards Asia.”
I was lucky enough to catch Jim Rogers on the phone again for a few minutes to discuss MF Global’s affect on the commodity markets, the direction of the U.S., plus an emerging southeast Asian country which presents an “enormous opportunity” . In regards to the recent MF Global collapse and it’s impact on commodity markets Jim said, “MF Global is causing forced liquidation right now, but longer term people will forget about it. People still need to trade wheat, they need to trade oil. In the longer term it will be like many other disasters in markets, it will be a blip–an unfortunate blip.” Jim added that, ‘This event will be another push to move commodities business away from Chicago and towards Asia.” In terms of where the U.S. is going fiscally, Jim said, “The U.S. is the largest debtor nation in the history of the world, and we’re setting ourselves up for terrible, terrible, problems. No country which has gotten itself in this bad of shape has gotten out without a cr...