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
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