I reconnected yesterday with legendary investor and commodities bull, Jim Rogers. He shared thoughts on the US Fed’s recent announcement of over $1.2 trillion in annual debt monitization, the current correction in precious metals & corresponding debates of manipulation, agriculture, as well as the best long and short positions in the world at this time.

Starting our conversation on the recent correction in precious metals, Jim said, “The CFTC numbers show that the number of speculators piling into gold and silver has gone up a lot in the last several weeks. You have twice as many people buying gold calls as buying gold puts—there’s a lot of bullishness in gold, so it’s not surprising to me at all that it’s correcting.” 

In view of further downside, Jim added that, “Precious metals in my view need to continue to correct. Gold has been up 12 years in a row, which is extremely unusual in my experience. Also gold has only had one 30% correction in 12 years. That too is extremely unusual in markets…Most things even in a bull market correct 30% every one or two or three years…India  [for example] is the largest buyer of gold in the world and has been for a long time, so if India does something to hit gold, or to cut imports, it could have a big drop.”

When asked his thoughts on political or trading manipulation in the metals, he quipped, “This is not the 1920s or 1930s, when gold was central to the world monetary system. There’s no reason for them to manipulate it. In my view that’s mainly been disgruntled bulls over the past 30 years…I don’t buy it. There’s no reason for the government to manipulate gold or silver.”

In response to the US Fed’s escalating debt monitization, and ensuing global currency devaluations, he said, “Everybody’s joining in the currency war…the new Japanese Prime minister says he’s going to print unlimited amounts of money, they’re all doing it...Many countries are printing moneyThis is all going to end badly, whether that’s currency collapse, economic collapse, more bankruptcies, higher inflation, or higher interest rates—these are the things that have always happened in the past, and I presume they will happen again.”

Additionally, Jim commented on his upcoming book release entitled “Street Smarts”, which is currently available on pre-order through Amazon.

This is another interview of required listening for all serious market students and investors, as Jim’s wisdom and experience cannot be missed.

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>>Interview with Jim Rogers (MP3)

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Tekoa Da Silva
Bull Market Thinking