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Jim Rogers discusses his views on commodities, and gold.
Rogers says about commodities bubble-talk, "What kind of bubble can it be if nobody owns it?" He says someday there will be a bubble in commodities, that by 2019 or 2020, people will be shrieking to own commodities.
He is bullish on gold, says it will go higher, not to sell it right now (if you own it), he owns it, but will not say whether its time to buy, that he's not smart enough to know "when?" He jokingly leaves that to Bloomberg's other guests who come on all day.
Rogers recalls speaking at a money manager conference in Prague, where polling showed that "76% of the audience had never owned gold in their portfolios - imagine that; so someday only 6% of them will claim they never owned gold." He continues, "That'll be the time to sell gold."
"What I will say is that as long as you have all the people running the Western economies, like Bernanke, commodities and gold have a wonderful future. They're gonna print money 'til we run out of trees."
Rogers refuses to make any predictions about where gold will go, but says that he expects gold to be at least $2,000/oz. by the end of this decade, maybe even higher.
Source: Bloomberg via Youtube, April 7, 2010
