Friday, November 20, 2009

Jim Rogers Thinks Silver Bullish

Jim Rogers says that although he doesn't think he's a gold bug, gold has been in a bull market since it hit its low in 2001. He says that he is currently holding gold and has been holding it for a long time. When told by the reporter that when adjusted for inflation silver peaked at over $800 per ounce before Columbus discovered the New World and around $100 per ounce in the early 1980s Rogers comments that not just silver but all commodities will be in a bubble before long:

"Silver is more attractive than many commodities. Silver is 70% below its all time high. There are not many things in the world you can say that about and if I had to buy any precious metal at the moment, I'd probably buy silver rather than gold. Gold's been making all time highs, silver's far, far below its all time high. Likewise palladium. Palladium is another that's far below its high. But I think think silver is more attractive than gold."

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Rogers then goes on to explain that silver has been used as money much more throughout history than gold has. He also notes that commodities will be hot for the next 10 or more years, and then stocks will be back.

The above is a complete summary. To hear the full conversation see the Youtube video below

Part 2 has Rogers commenting on governments printing too much money, gold being nowhere near its inflation-adjusted high, eventual currency collapses, US defaulting on its debts, and other economic issues. Interestingly, Rogers says his daughters will be given gold and silver for Christmas in 2009!

Watch Part 2 below

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