Jim Rogers: Owning silver means you profit whether the economy tanks or not

Buying Silver is a no brainer as far Jim Rogers is concerned. And why not? Considering that governments are printing money, silver will prove to be a very good bet.

In a recent CNBC interview, Rogers says – “Throughout history, when things have gone wrong, they print money…when they print money, you should own silver, you should own rice, you should own real assets. Goldcould go down a fair bit more…but I’m certainly going to buy more gold if it goes down and silver.”

“I’m long commodities and currencies, because if the world gets better, the shortages in commodities will make sure I make money. If the world economy doesn’t get better, I’d rather own commodities because they’re [central banks] going to print money.” he added.

Bottom line – you profit in both ways whether the economy slips into recession or the economy rebounds and grows

He noted that the MF Global fiasco has created a temporary forced selling in the markets and this will provide an opportunity for buyers to accumulate more silver.

Though he remained uncertain as to the magnitude by which Gold and Silver will fall, he however remarked that he will be ready with his chequebook if silver and gold fall further.

Stephen Leeb, the noted American economist, had earlier said that he expected silver to hit at least $100/oz – CommodityOnline

Tags: price of silver, Silver, silver analysis, silver news, silver price, silver price 2012, silver price forecast, silver prices, silver spot, spot silver

Posted by Silver Guru on Nov 27 2011. Filed under Silver Analysis. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry