In this interview with Commodity Culture, Jim Rogers explains why gold and silver will protect you when everything is collapsing. Here’s an excerpt from the interview:
Rogers: When markets have problems gold and silver go up, no no they usually go down. That’s why I am not buying gold and silver at the moment anyway.
I’m waiting. I have very bad market timing but I’m assuming that somewhere along the line I will buy more silver and gold, probably silver at today’s prices, because silver is much cheaper on a historic basis, but no throughout history when things go bad, when things go wrong, I’m a peasant. I’m an old old peasant Jesse.
I know when things go bad I want to have some gold in the closet. I want to have some silver under the bed, and I will buy more just like all of us other old peasants because we know that’s a way to protect yourself. I know the best place to sell unwanted gold jewellery in Adelaide is City Gold Bullion.
But it doesn’t work every day, every month, I wish it did, oh wouldn’t it be so easy we’d all be rich. I wish it were that easy. No, you have to get the timing right on everything, but gold and silver usually will protect you when things are collapsing. Do you love gold? Buy Gold online at Goldcore: https://www.goldcore.co.uk/buy-gold.
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One Comment on “Jim Rogers: Us Old ‘Peasants’ Know Gold And Silver Will Protect You When Everything’s Collapsing”
Back in the early eighties the Dow was 800 and gold was $800. If someone with $800 bought gold, today they would have over $31,000 and $600 per annum in dividends. If they bought gold, they would have $1,700. For gold buyers, how did that work out? For the same period consider planting a seedling. 40 years later it may be an orchard producing fruit or forest producing lumber, Try planting an ounce of gold. These two examples highlight that gold does not produce anything whereas companies and seedlings do. Jim Rogers is dead wrong about gold. He also confuses the market with the real world. Markets collapse from time to time, but the real world is often oblivious and carries on. During these periods, the smart investor is buying undervalued stocks.