Friday, September 9, 2011

Fri Post #2: Jim Rogers on Commodities and money printing

Jim Rogers was on CNBC earlier today.  Among the topics discussed were the recent currency intervention by the Swiss National Bank to devalue the franc and the overnight plunge in the European stock market.

Rogers explains why he is short stocks and ong commodities.

Says Rogers:
  • "If the world economy gets better I'm going to make money in commodities because of shortages that are developing. Especially in agriculture and precious metals. If the world economy doesn't get better, you're not going to make any money in Toyota or IBM but you might make money in commodities because they're going to print more money. It's the wrong thing to do but they will print money. Bernanke is already printing money again. You have to protect yourself. I'm short stocks but i don't expect the world economy to get better. Not much better anyway, if it does and I am long commodities as a protection."
Check out the clip above.

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