European Leaders Pushing Problems Into the Future:
an interview with ET Now, Jim Rogers, Chairman, Rogers Holdings,
talks about the European situation and shares his outlook for gold,
silver and base metals. Excerpts:
How do you
see the European situation panning out? What are the key concerns
that you are monitoring at this point?
I am delighted
to see it. I own the Euro, but longer term it is going to be a disaster
for all of us, the whole world, especially for Europe, because this
is not solving the problem. A year from now there is going to be
more debt in Greece and in Europe. Two years from now, there is
going to be more and more debt. Debt just keeps going up and nobody
addresses the real fundamental problem.
Do you still
think gold is going to go to about $2000 per ounce? How would you
want to trade gold at this point in time as an asset class or even
a safe haven?
I own gold.
I have not sold any gold. I bought some more a week or two ago when
it was down. When gold goes down, I try to act and buy more. If
it goes down a lot, I would hope I would buy a lot more.
certainly go to 2000. I do not know when it is going to go to 2000,
but I know it certainly would during this decade. Whether it's an
asset class or a safe haven is irrelevant, the fact that I own it
is because I want it. The price would go higher.
gold and silver, silver of late has exhibited some resilience. So
for someone who wants to pick and choose between gold and silver,
which commodity would you like to endorse?
I would prefer
silver because it is still depressed on a historic basis. Silver
is 30% below its all-time high. Gold is 10% below its all-time high.
I would prefer one just on relative value, silver is probably better.
I am not buying either today, but I am certainly not selling. If
they go down, I will buy more.
the rest of the article
Rogers has taught finance at Columbia University's business school
and is a media commentator worldwide. He is the author of Adventure
Gift to My Children, and A
Bull in China. See his
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