You are here

Bloomberg TV in Asia cites GATA during Rogers interview

Section: Daily Dispatches

7:54p ET Sunday, March 8, 2009

Dear Friend of GATA and Gold:

Friends report that Bloomberg Television's Asia program moderator, Bernard Lo in Hong Kong, tonight mentioned GATA in a question he put on the air to renowned investor Jim Rogers during the interview from which the Bloomberg story appended here was drawn.

Lo's question to Rogers went something like this: "Do you believe in organizations like GATA and what they have to say about gold price manipulation and other conspiratorial groups and the like?"

Rogers, our friends say, did not answer the question directly, simply acknowledging that he owns some gold and silver and other commodities.

Rogers long has been good for little more than self-promotion, but it's delightful and encouraging that an Asian journalist is not only well-informed about gold but courageous enough to mention GATA and gold price manipulation in an international broadcast. Let's pray for his health.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

China to Overcome Global Recession Before U.S., Jim Rogers Says

By Chen Shiyin and Bernard Lo
Bloomberg News
Monday, March 9, 2009

China's stimulus spending will help its economy overcome the global recession sooner than the U.S. and other countries, investor Jim Rogers said.

China's reserves allow the government to spend on projects that will make the economy more efficient and competitive as the global economy recovers, said Rogers, the author of "A Bull in China: Investing Profitably in the World's Greatest Market." Signs China is taking steps to liberalize its currency will also benefit the country, he added.

"I certainly expect China to come out of it sooner than the U.S.," Rogers, chairman of Singapore-based Rogers Holdings, said in a Bloomberg TV interview in Singapore. "They seem to be spending the money on the right things. China is doing a far better job than the others."

Premier Wen Jiabao reiterated last week the government's pledge to "significantly increase" investment in 2009 to help counter the slowest growth in seven years. He didn't specify new stimulus spending in addition to a 4 trillion yuan ($585 billion) plan announced in November.

China will allow trade settlement in yuan with Hong Kong soon, central bank Governor Zhou Xiaochuan said at a briefing in Beijing on March 6. President Li Lihui of Bank of China Ltd., the nation's largest foreign-exchange lender, said yesterday in Beijing the bank is already conducting trial international yuan settlements in Shanghai and Hong Kong.

"I'm glad to see they're taking yet another step toward convertibility," Rogers said. He said he owns Japanese yen because he expects more of the money to "come home."

Rogers added he remains bullish on agriculture and that commodities are "the only area of the world economy I know which is benefiting."

He said he owns "some" gold and silver, and regards silver as "cheaper."

* * *

Join GATA here:

Bahamas Investment Conference
Thursday-Friday, March 26-27, 2009
Atlantis Resort and Casino

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at