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Jim Rogers on The Oracle with Max Keiser

http://www.youtube.com/watch?v=k7PWkHgxkTI

[video:youtube:k7PWkHgxkTI]

I’ve not seen Max Keiser’s program The Oracle before, but since my current favorite billionaire Jim Rogers was on the show, I had to watch.

It’s about a ten minute clip and I can’t say there’s anything particularly new that comes out of it from Rogers (You can get almost all the same soundbytes from reading Jim Roger’s most recent interview with Maria Bartiromo). The new tidbits I did enjoy are paraphrased as follows:

  • Rogers doesn’t have much respect for the IMF and believes they will likely end up selling all of their gold before going the way of the dinosaur.
  • He points out how the Swiss banks are bigger than the Swiss government; the takeaway being that if the Swiss government tries to bail out the Swiss banks, they are likely to go bust themselves — the Swiss government being like a lifeguard trying to save a panicking man from drowning when the man can’t swim and is twice the lifeguard’s size.
  • When asked in a jocular manner if he had any gold coins on him at that moment, wouldn’t you know it he did (he pulled out a coin from his pocket)
  • Rogers is currently in Singapore. He’s moved to Asia (and sold off his NYC house), so this isn’t surprising though I think he’s officially calling China home these days.

(H/T to Ritholtz)

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Santelli’s Chicago Tea Party

http://www.cnbc.com/id/15840232?video=1039849853

Though I don’t think Chicago traders represent the silent majority in America (these guys make money on trading, volatility, etc.), you gotta love Santelli’s frank talk getting airtime on CNBC. Capitalist Chicago Tea Party on Lake Michigan? Sounds like fun.

Oh and I liked his soundbyte asking, “Who wants to pay your neighbor’s mortgage because they have one too many bathrooms?”

Here’s a YouTube upload of the clip (backup to CNBC’s clip):

[video:youtube:bEZB4taSEoA]

@ http://www.youtube.com/watch?v=bEZB4taSEoA

Update 2/20/09 11:05 pm: Just read this:

Gibbs Blasts CNBC Ranter ( http://www.cbsnews.com/blogs/2009/02/20/politics/politicalhotsheet/entry4816372.shtml )

Relevant quote:

“I also think that it’s tremendously important that for people who rant on cable television – to be responsible and understand what it is they’re talking about. I feel assured that Mr. Santelli doesn’t know what he’s talking about,” Gibbs said during the daily White House briefing for reporters, CBS News’ Mark Knoller reports.

The White House press secretary did not stop there. Knoller reports that Gibbs went on to criticize the objectivity of cable news reporting.

“If I hadn’t worked on the campaign but simply watced the cable news scorekeeping of the campaign – we lost virtually every day of the race….” he said.

Added Gibbs: “If I would have just watched Cable TV – I long would have crawled into a hole and given up this whole prospect of changing the country.”

After President Obama announced the details of his housing relief plan in Arizona Wednesday, Santelli, “the government is promoting bad behavior.” His increasingly outraged comments drew cheers from the trading floor where he was speaking.

Santelli then challenged the new administration, which he said is “big on computers and technology,” to “put up a website and have people vote on the internet as a referendum to see if we really want to subsidize losers’ mortgages.”

The White House is showing some awfully thin skin here. Santelli hardly said anything half as outrageous as the regular comments by Rep. Ron Paul. Mind, by “outrageous,” I of course mean, “dead on but relegated as fringe/insane/stupid by the mainstream corporate/political machine.”

Beyond that, is it really the White House’s responsibility to comment no a CNBC reporters opinions regarding their bailout bill? Is it getting stuffy to anyone else in here? Free speech ::cough:: ::cough:: …

Update 2/23/09:

Here is Santelli’s on-air address to Gibbs’ comments:
[video:youtube:SEoutkm5_Q4]

And Gibbs’ original comments:
[video:youtube:0cbsvu-4QWg]
Gibbs is a chump.

H/T to Tim for the extra videos.

Update 3/2/09: See also Barry Ritholtz’s: