Jim Rogers: The problem of too much debt is not solved by more debt. That’s ludicrous.

Want to make money in the stock market? For investor and commodities bull Jim Rogers, "you have to own silver, you have to own rice, you have to own real things if you’re gonna survive," he told CNBC Tuesday.International investor Jim Rogers The CEO of Rogers Holdings also owns gold, which after 11 years of rising has been "consolidating" for the past three months. "I hope it continues to consolidate. I hope it goes down so I can buy more," he said.

Elsewhere, his strategy is to be short in U.S. technology stocks, emerging markets and European stocks, and be long on commodities, "because if the world economy gets better, I’m going to make a lot of money in commodities," he said.

He also owns currencies including the Japanese yen, the Swiss franc, the euro and even the U.S. dollar, which while "not a safe haven" is nevertheless where investors go in times of turmoil, he said."There’s lots of currency opportunities in the world," he added. "There’s plenty of ways to protect yourself."He said the United States is a bigger debtor nation than Europe, when taken as a whole. Europe has "individual countries that are involvent...but they're in much better shape" than the U.S., with several insolvent American states.But he is avoiding Europe as he waits to see what the European Union leaders announce after their meeting Wednesday.The Europeans will "announce some good things and everybody’s gonna feel better for a while," he said. "Eventually, people are going to say wait a minute, things are worse than they were before.
The problem of too much debt is not solved by more debt. That’s ludicrous."

Chinese Are Among Best Capitalists in the World: Jim Rogers

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Jim Rogers on the Silver Price

If traders like gold at today's prices, then silver should be bought first, says famed commodities bull Jim Rogers.

Speaking with India-based Economic Times (ET), Rogers, the man who looks and dresses like a gentleman plantation owner from Mississippi (without the accent), said, of the two precious metals, gold and silver, he prefers silver at this time.

“I would prefer silver because it is still depressed on a historic basis. Silver is 30 percent below its all-time high, he said. “Gold is 10 percent below its all-time high. I would prefer one just on relative value, silver is probably better.”

Talking like a bona fide billionaire, Rogers isn't going to play with charts and suggest a time frame for gold's ascent above the magical $2,000 mark. Instead, the alumnus of Balliol College at Oxford went out on the limb and expects gold to reach $2,000 by 2020.

Like many people in Asia, especially in India, where the audience for the Economic Timesis largest, he owns gold because he wants it—just as he likes all commodities that he can trade in a futures market. India is expected to import more than 1,000 tons of gold this year, according to the World Gold Council (WGC)—that's an equivalent amount of Switzerland's total gold reserves—imported into India in one year.

“Gold would certainly go to 2,000 [USD]. I do not know when it is going to go to 2,000, but I know it certainly would during this decade,” Rogers sidestepped the question of when he thinks gold breaks the 2k mark. “Whether it's an asset class or a safe haven is irrelevant, the fact that I own it is because I want it. The price would go higher.”

Maybe Monday's interview with Fox Businesswas a more suitable place to break any bad news from the 69-year-old father of two toddler girls. In India, the population isn't happy with high gold prices, as a lot of the precious metal is bought for ceremonial and cultural reasons.

In the Fox Businessinterview, Rogers warned of a coming meltdown next year (or 2013) in the world markets, much worse than 2008-9. As he has repeated said for several years, it's the US dollar that's the most troubled currency today, though blowups in other currencies throughout may precede the fall in the Greenback.

“We still have serious problems throughout the world. The U.S. is in fact in worse shape than Europe,” Rogers said, Monday. “Europe is getting the press these days because the debts are coming due but America is the largest debtor nation in the history of the world.”

And as far as the euro is concerned, Rogers believes the currency won't make it, which adds another 27 percent to the dollar's 61 percent of total reserves held by central banks expected to decline in purchasing power throughout this decade. Under that thesis, he believes investors need to hedge themselves through commodities holdings.

“I own the Euro, but longer term it is going to be a disaster for all of us, the whole world, especially for Europe, because this is not solving the problem,” he told ET. “A year from now there is going to be more debt in Greece and in Europe. Two years from now, there is going to be more and more debt. Debt just keeps going up and nobody addresses the real fundamental problem.”

Rogers and Kudlow Agree: QE Is Already Under Way - Motley Fool

Rogers: Larry, if things continue to get bad, they're going to print more money. That's all Bernanke knows to do. He's going to print more money, and you'd better own real assets at a time like that.

Kudlow: I actually think the [European Central Bank] and the Fed is going to print more money. We're going to have massive quantitative easing to get out of this crisis, Jimmy. If that is the case, and both the ECB and the Fed go into QE mode, what's your favorite investment?

Rogers: Well, agricultural commodities is where I would be. I've told you this before. But Larry, they're already in QE; at least the Fed is. When Bernanke said in early August, "We're going to keep interest rates low" ... Larry, the only way you do that is you go into the market and you force them down. He's already in the market. He's lying about it. If you get out the M2 numbers, Larry, from the first week of August, you'll see they jumped up as soon as he said that and they've stayed higher, going higher. He's in the market. They're lying to us again, Larry. C'mon, you're a Princeton graduate; you should know how they do it.

Kudlow: "I do. I do. [laughing] And I basically agree with you, Jimmy Rogers. I'm sorry, I'm flat out of time, but I basically agree."

The only sector commodity bull Jim Rogers would buy right now

Jim Rogers is a long-term bull on commodities based on scarcity in a growing world.
Silver and gold "will both go much higher over the next few years," he tells Economic Times. Oil prices will recover as "known quantities of crude continue to decline." Sugar is going to "at least double or triple before this all is over."
But there's only one sector he would buy right now:
I am thinking about buying agriculture right now. I am not thinking about buying base metals or gold or oil right now, but I am thinking of buying agriculture maybe this afternoon. That's where demand will come first. Probably precious metals second, then the rest of the commodities.
Agriculture is facing some very serious problems whether the world economy slows or not because we have shortages of everything. The inventories are very low. We even have shortages of farmers developing in many countries. The average age of farmers in America is 58, likewise Australia. In Japan, it is 66. You have hundreds of thousands of Indian farmers committing suicide. It has been such a terrible business. Higher suicide rate of any profession in the UK is in agriculture.
So farming has got serious problems facing it. We are going to see much much higher prices over the next decade. So I would buy agriculture soon. The others, I am more watching the world economy and the world markets before I step in.

Jim Rogers: Is World Currency War Causing Global Market Meltdown?

Some quotes:
“The U.S. dollar is not a safe haven, if you ask me, but I do own it.”

“Agriculture prices [are] getting banged right now. I am kind of planning on buying Swiss francs, more dollars and agriculture.”

On China “They’re doing their best to cool things off … I expect them to continue to do it, and that is causing more slowdown around the world.”

“The major problems are coming from the west," “They are coming from Europe and the [United States]. We are much worse off than we were in 2008 because the debt has gone through the roof.”

“At least in 2008 there was the possibility that the governments could bail us out. Now, of course, the governments have gotten deep, deep, deep into debt themselves,” “Everybody is in much worse shape.”

“Brazil sort of ignited a trade war [by putting a 30 percent import tariff on China and Korea ]. And right now China is trying to get the Europeans to let them open up the trade with China more. The Europeans are saying no, so China is saying, 'No, we won’t bail you out.'"

“I hope the trade war doesn’t break out" because throughout history when it does it has "caused depressions,” Jim Rogers added. “You saw what happened in the 1930s. It led to depression and it also led to war. So I hope it can be contained.”

Jim Rogers attacked Ben Bernanke stating, "is killing the people who save and invest, and that's really hurting a very, very large part of the population."