Highlights of Jim Rogers’ latest interview

On Gold: Jim thinks Gold is “overdue for a rest” and “may go down for a while”, but still thinks it “will hit $2000/oz. this decade.”

On Rice: “I’d rather own rice,” Rogers said. “I’d rather own something that’s more depressed than gold.”

On Agriculture: Agricultural commodities are “going to boom” as demand increases in developing markets, especially Asia.  All commodities will be supported by the weakening dollar, which is losing value because Federal Reserve Chairman Ben S. Bernanke is “printing money” by buying Treasuries in an effort to shore up the U.S. economy.

On paper money and the dollar: “Paper money is made of cotton, and I’m long cotton, by the way,” Rogers said. “One reason I’m long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.”

On U.S. equities:  Rogers said he doesn’t own shares in U.S. companies.

On U.S. debt: He is short U.S. long-term treasury bonds.

On the renminbi:  It may offer, “almost sure profits over the next five to 10 years,” he said.

On stock brokers and cabbies: “In the future, it’s the stock broker who’s going to be driving the cabs,” Rogers said. “The smart stock brokers will learn to drive tractors, and drive them for the farmers, because the farmers will have the money.”

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4 responses to this post.

  1. Posted by Steve on January 14, 2011 at 11:29 am

    “the farmers will have the money”

    I guess you know we subsidize agriculture in the US big time, and have done so for decades? Hopefully this will change at some point, but I’m not going to hold my breath on that.

    Corn is greatly subsidized in Iowa and elsewhere. Same with tobacco in NC, wheat in KS, and most other ag products. This is very detrimental to Third World economies, where farmers can’t compete with the subsidized ag from the US.

    And don’t forget: Michelle Bachmann’s (R-MN) family owns a farm and receives thousands of dollars in subsidies each year, while she continually rails against “big government”. Nice work if you can get it. I’m sure there are countless other examples of this hypocrisy out there.

    Reply

    • Posted by the rookie cynic on January 14, 2011 at 1:22 pm

      I have no love of industrial agriculture (an oxymoron in my mind if there ever was one), just looking at commodity prices and what they mean. Thanks for commenting.

      Reply

  2. Mr. Rogers has a long history of good calls; he also provides advice for free (for those of us in the cheap seats). Investing in food production is a no brainer, as there are between 70 to 80 million new mouths to feed every year and farmland area is declining. It is much harder to invest without involving Monsatan or some such corp. I’m long gardening!
    Thanks for the article.

    Reply

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