Wednesday, July 7, 2010

Jim Rogers: Silver is One of the Few Safe Refuges Left

From Bloomberg:
Investors should sell bonds and buy commodities like silver and rice as a “refuge” as the world economy may continue having problems, Jim Rogers, chairman of Rogers Holdings said.

“Bonds are not a good place to invest in,” Rogers said at a conference in Kuala Lumpur today. “You should own commodities because that’s your only refuge” whether it’s silver or rice, said Rogers, who predicted the start of the global commodities rally in 1999.

Gold has gained 8.3 percent this year, leading advances in precious metals, as investors seek haven assets to protect their wealth amid concern the global economic recovery will falter. Still, commodities overall capped their worst quarter in more than a year on investors’ concern that slower growth from China to the U.S. will sap demand.

The best place to be is in commodities and other natural resources, including precious metals like silver, platinum and palladium, said Rogers, who co-founded the Quantum Hedge Fund in 1970. Commodities are good to buy as supply shortages are already developing, the Singapore-based investor said. 

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15 comments:

  1. The Market is charging out of the gate again today. Forget this precious metal bullshit and get in the Market now so you can ride this Bull Wave to the top.

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  2. 8:27 (OLE WISE ONE) WHERE IS THE "TOP"? THEN AGAIN, I THINK I WILL STAY WITH "HARD ASSETS"!!!THANKS.....BUT NO THANKS!!

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  3. 827 a loser shill, stock market heavily manipulated, crash coming soon, this shill will lose everything and he deserves it.

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  4. 8:27 -

    Roll another one dude........

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  5. BrianWilliamDotyIIIJuly 7, 2010 at 2:25 PM

    HFT y PPT props
    The DOW is not indicative of anything
    Anymore
    Other than a rigged system

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  6. Wow. The Dow is around 10,000 ten years later. Wall Street reminds me of a Craps table at Vegas, wow I bet on Hardways and won, until I lost, everything, or a Roulette Wheel, its red today, black tommorrow, gee bet on #27, I hear they have good EBIDA, damn 00 hit. Baby Boomers have bought as a generation (the rule, but there are exceptions) the brainwashing that they were investing, when they were really gambling. The problem with Gold and Sivler now with interest rates near zero these metals may be topping out, but silver is still not at its historic peak. I bought silver and gold when the NASDAQ was at 5,000, and no one wanted metals. Today, everone is talking about silver and gold in glowing terms. If and when the Fed raises these effective zero interest rates, then the metals will revert back. I bought silver and gold 10 years ago as a store of wealth, and insurance, not as something to be traded. More like guns and bullets, you have to have them but really do not want to use them. Nevertheless, the real question is are we going to have deflation like Japan with interest rates near zero, or high interest rates like the late 1970's. I wish I knew that answer. I do know that Obama reminds me of Jimmy Carter.

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  7. 12:39 interest rates have 0 effect on GOLD and SILVER these days. There is nowhere to put your money when currency collapses, except GOLD/SILVER. The metals will go up when the FEDS raise the rates. You better read Jim Sinclair and the rest of the GOLD BUGS to understand how it works these days. The 70's and 80's have NO meaning on what is going on! Many dumb economists of the 80's still think the economics work the same way back when. They are DUMB AS BRICKS!

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  8. give me the interest rates of the late 70's!!! better than this shit of 1% or less.

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  9. Stock Market will be the best place to be over the next 20 years. Retails sales figures, consumer spending remains resilient and this will turn the economy around. All those in hard assets are up for a shit load of losses

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  10. These banks and credit unions are paying around 1 or 2 percent..unreal, total ripoff for retirees! Anything under 3% is loaning money to these banks free. Buy certain commodities, to incl: canned foods, ammo, extra shoes, socks, clothes for your climate (I have 8 swim suits!) Buy extra hand tools, garden tools (manual) and blankets, camping gear, etc.

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  11. 4:24 - The only reason retail sales haven't totally collapsed ( except for necessities ) is
    people like 4:53 who have 8 friggin' swimming suits

    The mentality of it all is absolutly hilarious !

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  12. 5:01PM

    ROFLMAO - good one!

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  13. What a crock, comments don't show if the gestapo don't approve, WTF?

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  14. Buy certain commodities, to incl: canned foods, ammo, extra shoes, socks, clothes for your climate (I have 8 swim suits!) Buy extra hand tools, garden tools (manual) and blankets, camping gear, etc.

    What you wrote made sense until the 8 swim suits?? Kind of reminds of the lady in Detroit who bought all this Kingfords charcoal for Y2K the reporter ask if she knew you can not used that in the house in the winter you would have to cook outside? Outside Detriot 10 degrees on Jan LOL A camp propane stove would be a better choice.

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  15. comments dont show if brockobama does not want them too.

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Everyone is encouraged to participate with civilized comments.