Sunday, February 26, 2012

Jim Rogers Comments on Silver & Commodities!

- Silver is one of the few refuges left.

- Right now there are over 7,000 mutual funds in which the public can invest... There are fewer than 10 commodity funds. By the end of the commodity bull market there will be many more commodity funds and products - Sept 20th, 2011. 

- Silver has a great future. The bull market in silver has a long ways to go. 

- The price of silver will never go to zero! 

- There are no sound currencies anymore. Do not sell your silver. 

- I would rather own silver than gold. Buy yourself some silver chopsticks or some silver cutlery and you will be very rich in five or 10 years. Comment made October 12, 2010. 

- Bull run in commodities. The shortest bull market for commodities lasted 15 years, the longest 23 years, so if history is any guide, they've got a long way to go. This is not a bubble.

- I am long Silver and if it goes down, I hope I am smart enough to buy more. I don't want to sell my silver. I want to own it 10 years from now.  

- Silver & The 1987 Stock Market Crash. In 1987 stocks went down 30 to 40 percent, smart people went in an bought more. If it goes down I hope I'm smart enough to buy more silver. 

- No bubble in Silver, No bubble in commodities yet. I hardly see how silver could be a bubble when it's below it's all-time high. That's not much of a bubble. A bubble is when things are screaming up every day and they go to new highs, two to three times their old highs. We'll have a bubble, we'll have a bubble in commodities, we're not there yet. 

- Stock prices can go to zero. Commodities cannot. Unlike shares in a company, commodities are real things that are always likely to be worth something to somebody.

- In the commodity world, the cure for high prices are high prices. You let prices go high and stay high, that is the cure, demand goes down, supply comes up.

- If there is war, commodities go up in war. If there is war America is going to print money. If there is not war, they are going to print money and so whenever there has been money printing, the result has been that you should have your money in real assets. 

- It has been a pretty clear thing throughout history. Real assets are the only way to protect yourself. 

- In my view whatever happens, if the world economy gets better, commodities are going to be good because of the shortages developing. If there is war, commodities go up in war. If there is peace and there is not going to be an economic recovery for governments, they are going to print even more money, it is the western government. So depending on how things work out tonight, I would probably use this opportunity to jump in and buy more commodities.  

- Wall Street's Outlook For the Next 2 or 3 Decades
"The city of London and Wall Street are not going to be great places to be in the next two or three. It's going to be the people who produce real goods."

- There will be more people buying silver (and gold), eventually everyone will own silver (and gold) and then we will have to sell our gold. But that is a long way from now.  

- Silver will definitely reach new highs. US dollar is in serious trouble, and will be debased a great deal in the future, and eventually will be problematical itself. So gold and silver will be measured by the US dollar but I hope there will still be some sound currencies no matter what happens. 

- The dynamics of a bull market. I've been trying to explain to people for a long time what's going on, but for some reason nobody listens. Normally at this stage of the commodity bull market you would expect new capacity to be coming on stream. The problem of course is that in 2008 and 2009 everybody got hit. So, many of the people who were thinking about adding capacity have pulled back, cancelled, delayed, rescheduled, etc Fortunately or unfortunately, the supply side of the equation seems to be getting worse not better. 

- You have to protect yourself with real assets such as silver. Silver is something that will hold its value in an inflationary time. I own silver coins in my hand, in my house, in my box. 

- Commodities are the place to be. If the world economy gets better, commodities are going to make a fortune. If the world economy does not get better, commodities are the place to be because they are going to print more money, and that's how you protect yourself. 

- It's not time to own stocks and bonds. Throughout history, go back and look, you know we had huge inflation in the 70s, stocks were not in a good place to be. This is the time when you should own real assets, not stocks and bonds. Paper money is not going to do it for you. 

- 75% of High-End Money Managers have never owned gold. When speaking to a room full of high-end money managers, they were asked how many of them owned gold. 75% of the people had never owned gold, or silver. So you can see most people still do not own gold. For most people in the world gold is still an unknown entity. Comments from 2010

- I am not selling my gold. I bought some gold this week. If gold goes down a lot, I would buy. I hope I am smart enough to buy a lot more gold. Gold is going to go much higher over the course of this decade. Do not sell your gold, not yet. - Comments from February 2012

- Gold is not a bubble. I expect there to be hysteria in the precious metals markets in 5 to 10 years. Right now, very few people own gold, and I can hardly call something a bubble when very people own it. Comments from 2010

- I don't own any US equities. I like to invest with the creditors not the largest debtor nation in the history of the world. Commodities are mainly my play of how I am doing that. 

- Printing money leads to huge inflation down the road. This helps commodities - real assets. 

- Probably none of us are going to own any paper money at all ultimately, but that's later in this decade, because paper money is becoming very suspect everywhere in the world. 

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