A quick summary of Jim Rogers’ interview on Bloomberg from 10/24/08 – I just can’t get enough of Jimmy (if you couldn’t tell):
- The best place to have your money is (drumroll…) in commodities.
- Why? Because this credit crunch will drastically hurt the supply of commodities.
- “Farmers cannot get loans to expand. Nobody’s going to give you money to open a zinc mine in the next decade.”
- “If gold goes down, I’ll buy more. If it goes up, I’ll buy more. Gold’s in a bull market. I expect agriculture to do better.”
- “Inventories of food are the lowest they’ve been in 50 years…we have a shortage of farmers now.”
- “Massive inflation is coming…get out of paper assets.”
Video quality here is not great, but audio is fine. He busts out some gold bullion midway through, right out of his pocket, in case you decide to listen rather than watch.