Bear12feet
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- Aug 14, 2011
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Agricultural commodities are the place to be in for investors, points out Rogers saying that it will be farmers not bankers driving Ferraris in the coming decades.
Rogers and Faber argue that the US dollar is on a path to death and Gold prices will continue to rise on the declining dollar value. Both of them agree to Stansberry & Associates Investment Research founder Porter Stansberry that if you divide US gold reserves by the total number of Federal Reserve base money, you get something $6,000 per ounce of gold.
According to Rogers, governments have not addressed the underlying problems which triggered the crisis, but instead have "flooded the world with money." He argues that trying to solve the problem of too much consumption and too much debt with more consumption "defies belief," and will result in epic failure.
Faber's outlook echoes the sentiments of Mr. Rogers. He says, "If we agree that excessive credit and excessive leverage led to the crisis, then what the FederalReserve is doing is giving a wrong medicine to the patientthey are giving the drug addicts more drug instead of sending them to rehabilitation, which is not good for the economy. So I think that the whole policy will eventually end in another disaster but we dont know when and many things can happen in between."
Read more:
commodityonline.com/news/Farmers-not-bankers-will-drive-Ferraris-Jim-Rogers-24066-3-1.html
Rogers and Faber argue that the US dollar is on a path to death and Gold prices will continue to rise on the declining dollar value. Both of them agree to Stansberry & Associates Investment Research founder Porter Stansberry that if you divide US gold reserves by the total number of Federal Reserve base money, you get something $6,000 per ounce of gold.
According to Rogers, governments have not addressed the underlying problems which triggered the crisis, but instead have "flooded the world with money." He argues that trying to solve the problem of too much consumption and too much debt with more consumption "defies belief," and will result in epic failure.
Faber's outlook echoes the sentiments of Mr. Rogers. He says, "If we agree that excessive credit and excessive leverage led to the crisis, then what the FederalReserve is doing is giving a wrong medicine to the patientthey are giving the drug addicts more drug instead of sending them to rehabilitation, which is not good for the economy. So I think that the whole policy will eventually end in another disaster but we dont know when and many things can happen in between."
Read more:
commodityonline.com/news/Farmers-not-bankers-will-drive-Ferraris-Jim-Rogers-24066-3-1.html