Jim Rogers to Buy More Gold, Silver

Legendary investor Jim Rogers has always cut against the grain, but he has been consistent for at least the past decade in his accumulation of gold and silver. Rogers called the commodities rally in 1999, which is generally appreciable from the guy who co-founded the Quantum Fund with George Soros. The Quantum Fund, you will remember, outperformed the S&P by 400 percent.

Rogers also retired at 37, before setting to Guinness world records. He has since, of course, returned in some capacity to the market and currently resides in Singapore. When Rogers speaks, aware investors listen. He’s a bit like Warren Buffett without the political strings. He’s very critical of the US monetary policy and the Federal Reserve administration of Ben Bernanke, in particular.

But Rogers has always been a very clear proponent of gold and silver. He has major holdings in the commodities that he often speaks of increasing. Right now, Rogers is predicting a great buying time in gold and silver and, as he states, “I hope I am smart or alert enough to buy more gold at that point.”

It’s not difficult to see the reasons why Rogers is seeing such a golden road for commodities ahead. There is very serious trouble in the globalized world financial system that is currently most at risk from the rot in Greece. If Greece’s problems spread to Spain or Italy, it threatens not only the whole European bloc, but associated institutions and markets, as well. The MF Global debacle, headed by Jon Corzine, could be a warm up to the kinds of troubles we could see.

This is the basis for most safe-haven buying as it has been occurring in the past couple years. However, the risks have never gone away or been mitigated through policy. We are still seeing a situation in Europe that could really throw a monkey wrench in American finance.

That’s why Rogers is in gold and silver for the long haul. These are great commodities and they are long-term investments. There are great ways to make fast money out there, but they have much more risk associated with them. Gold and silver are the best ways to hedge that risk and protect yourself from the global financial crisis as it is playing out.

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