Thursday, December 9, 2010

Jim Rogers expects much, much higher interest rates


Wall street king Legendary investor Jim Rogers and author of ‘Hot Commodities’ agrees with Dr Gloom Boom and Doom Marc Faber in predicting ‘much, much, much higher interest rates’ in the US over the next few years and is now shorting US treasuries. He told a Reuters investment summit this week that ‘everybody in this room knows that prices are going up for everything’, Jim Rogers is not only an astute businessman, a voice of reason and a gentleman but is also blessed with a genuine sense of humor - Jim Rogers 's golden words: Investment in productive capacity is what leads to the long term growth of economy.

One important fact you need to remember. When the crash happens, a new system will be offered. Refuse it, unless it is a gold standard.I doubt that they would offer a gold standard due to what happened in the UK in the 1930s when Churchill tried. It'll just be another Fiat currency backed by nothing.