Legendary Investor Jim Rogers Chooses Silver Over Gold at Today’s Prices
Legendary Investor Jim Rogers Chooses Silver Over Gold at Today’s Prices from KitCo News
Silver is currently better priced than gold, but price levels are not sufficiently low enough to entice legendary investor Jim Rogers, chairman of Rogers Holdings, to buy either precious metal.
“If I had to buy one, silver or gold, I’d rather buy silver. Silver is more depressed on a historic basis than gold. I’m not buying either in any serious way,” Rogers told Kitco News.
Rogers said that he maintains his gold holdings, and although prices are not attractive enough at the moment to buy, he is not selling unless a major crisis hits.
“If and when a bubble develops, and it probably will because the world is facing gigantic problems in the next few years, if that happens then I will have to sell my gold because you cannot, well you can but you’d be crazy to, hold any asset through a bubble,” he said.
He warns that the next bear market is going to be “horrible, compounded by too much debt and a trade war.”
Rogers said that the longest bull market in American history will be short lived, as macroeconomic problems will surface soon.
“Later, this year or next year when the economies around the world are getting bad, Mr. Trump is going to blame everything on the foreigners, the Chinese, the Germans, the Japanese, everybody, and then the trade war will come back and then it’s all over,” Rogers said.
Rogers added that trade war tensions may escalate as the Trump administration is determined to win.
“Mr. Trump is going to come back. Mr. Trump believes in his soul and his brain that trade wars are good and that he can win trade wars. Mr. Trump knows that he is smarter than everybody else so he knows that he can win a trade war, and it will come back strong. When the American economy gets bad eventually, he’s going to blame it on trade and the trade war and it’s going to be terrible,” he said.