Jim Rogers Buying Gold Bullion On Dips
- Jim Rogers accumulating gold bullion on dips
- “Get prepared” as “we’re going ‘to have the worst economic problems we’ve had in your lifetime or my lifetime’
- Warns that Trump and his team are “very, very keen to have trade wars with China and other people”
- History shows trade wars lead to real wars
- Cashless Society – Cash-less means Freedom-less
- Cashless societies are about governments “looking out for themselves first”
- Gold and silver may head lower but advises accumulating bullion on the dip
- Advocates storing gold in Singapore
Jim Rogers holds a gold coin (Digital Journal)
I want to own more gold and silver
In a wide ranging interview with MacroVoices’ Erik Townsend, legendary investor Jim Rogers, co-founder of Quantum Fund with fellow investor George Soros, has said that he wants to own more gold and silver and will continue to accumulate on any price dips.
Set against a background of thoughts regarding the both the political and economic outlook, Rogers echoes the growing theme we have been touching on in recent months – heightened and arguably unprecedented uncertainty.
Basing much of his analysis and thoughts on history, Rogers reminds us that it does repeat itself and we’re not to assume that the ways of modern life mean that things will turn out differently.
Mixed feelings on Trump
When it comes to what President Trump will mean for markets, Jim Rogers believe that if the new Commander In Chief says all the things that he will do then it will stand for some overwhelmingly poor results on an international scale.
Whilst Rogers believes that Trump’s promises to cut taxes, improve infrastructure and bring back $3 trillion worth of US company assets from overseas will be ‘wonderful, wonderful things.’ Yet, he seems more concerned about the idea of trade wars that a few in Trump’s ear seemed to have a thing for.
“Mr. Trump has also said he’s going to have trade war with China, Mexico, Japan, Korea a few other people that he has named. He swore that on his first day in office he would impose 45% tariffs against China. He’s been there three weeks, two or three weeks and he hasn’t done it yet but he still got it in his head I’m sure or maybe he’s just another politician like all the rest of them. He says one thing and he doesn’t mean it at all but he does have at least three people in high levels in his group who are very, very keen to have trade wars with China and other people.”
Rogers says it could be ‘happy days’ for a while if Trump doesn’t follow through on campaign promises to take on trade competitors, but warns that if Trump does pursue these ideas that “it’s all over. I mean history is very clear that trade wars always lead to problems, often to disaster, sometimes even to real war, a shooting war.”
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