Tuesday, October 8, 2013

Jim Rogers Exclusive Interview with The Money Show ~ How High (or Low) Will Gold Go?

Jim Rogers Exclusive Interview with The Money Show ~ How High (or Low) Will Gold Go?

While gold has had a rough time this year, it doesn't matter, as legendary investor Jim Rogers is keeping his gold holdings and he shares his reasons why.

NANCY:  Welcome and thanks for joining us.  My guest today is Jim Rogers and we’re talking about the price of gold.  Hi Jim, thanks for being here.

JIM ROGERS:  I’m delighted to be here Nancy.

NANCY:  So are we having a rally in gold right now?  A mini rally?

JIM ROGERS:  Yes and no; it depends on which day you’re talking about.  I own gold and I’ve owned gold for many, many decades.  The situation with gold, gold went up 12 years in a row and Nancy, I know of no asset in history that’s gone up 12 years without a down year, so the anomaly has been how strong gold was, so gold is now correcting.  In my view, the correction will be an anomaly too, because of the previous 12 years, so I would suspect you’ll gold have correcting for a year…two….three, I don’t know how long, and how low it will go, but it’s not going to be normal.  There’s still too many people who believe and not enough people who’ve given up on gold yet.  So I own gold.  I haven’t sold any gold.  Every once in awhile when it’s down, I buy more.  But the bottom, I don’t think is in.  The final bottom is not in yet.

NANCY: But if you were an individual investor and, you know, one view of the market’s been really great for individual investors up until just recently, but some people are getting a little scared that we’re topping out here, so would you be a buyer of gold and, if so, what would you be buying—ETFs, mining shares, the bullion?

JIM ROGERS:  Well, I wouldn’t be buying anything and you said gold’s been good.  No, everybody who bought gold in the last three years is losing money, so gold has not been good.

NANCY:  Right…not the market, the stock market, not the gold market.

JIM ROGERS: Oh, the stock market…..okay.  Well, I am not buying gold.  When it went to $1200 I bought a little bit just in case, and if it’s goes back to $1100 or something, I’m sure I’ll buy more just in case, but no I expect the bottom, the market bottom, to be sometime maybe later this year or next year.  I think there will be another chance to buy gold.

NANCY:  Then how high do you think it will go.  Are you even forecasting that?

JIM ROGERS:  Well, I’m not forecasting because if the value of the papered money, if the value of the dollar becomes debased – if it turns into confetti – there is no high.

NANCY:  Sure, yeah exactly.

JIM ROGERS:  It’s astonishing how high the price would go, and they are continuing to debase paper money all over the world.  It’s a conscious policy by everybody, so no, I expect the ultimate price of gold to be who knows, partly because the money everywhere is going to be debased more and more.

NANCY:  Do you hold bullion primarily?  Is that what you buy?

JIM ROGERS:  I own ETFs and I own physical gold, yes.

NANCY:  Okay, well thank you, appreciate having you here.

NANCY:  Thank you.

NANCY:  Thanks for being with us on the Moneyshow.com video network. 
 Click here to watch the Full Interview >>>>>

Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "