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« Draghi, worried by strong euro, says ECB poised to act as soon as June | Main | Canadian Silver Maple Leaf Sales Shatter All Records »
Wednesday
May072014

Jim Rogers: Governments Will Loot Pensions, Savings – Hold onto your Gold

 

Jim Rogers co-founded the Quantum Group of Funds in 1973. He has warned investors that governments could loot savings and pension plans soon. With gold coming down again over the last month, I asked him about his gold holdings now.

Why still own gold?

“You see, there is going to be chaos out there over the next decade,” he began. “It could be a monetary disaster or even war. This turmoil could come from a gigantic debt problem, for instance, which could cause world economies to fall apart as well. Politicians don’t know what to do besides printing money – so that’s what they end up doing. We will see a wave of turmoil from all this that will surely take gold higher.

“I am on the record extensively since the fall of 2011, saying that gold would be going down for quite some time. Well, correcting, I should say. That is still happening; I am not rushing in to buy gold. I also have not sold any of my gold. A 50 percent correction from the top would put gold under 1,000 dollars. I am not predicting that will happen, but it is possible.”

Could certain countries really go to war over the next 5 years?

“Well, .................


To read Jims article in full please click here

 

The miners have started 2014 very well indeed on the back of rising gold prices, so the question is;

Is this the real deal or another head fake?

Is the bottom really in?

Could there be a final capitulation just ahead of us?

Will the summer doldrums take the PMs lower?

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