Prominent Investor Likes Gold

Jim Rogers,the Chairman of Rogers Holdings and author of several books,says the fundamentals are terrible for all the paper money except Canada's and Singapore's.This money has to come from somewhere.He's concerned about all countries.Nothing about the new rescue package is gonna get countries to cut their deficits enough to solve the problem.The European Union is ignoring their own rules.Even the present generation is gonna pay for this.
Mr.Rogers doubts if the Euro will be around in 10-15 years.It's continuing to weaken;be careful.The politicians all over Europe are using it as a scapegoat whenever there's a problem.It's a political currency,Jim Rogers believes.
The way things are going,people are gonna grab for something.The only thing they can grab for now is gold.It will certainly go up to 2,000 dollars an ounce by 2020.His children will own his gold,Mr.Rogers suspects.
Jim Rogers,a resident of Singapore,is a frequent guest on business television.Another Jim Rogers is the CEO of Duke Energy.
Duke Energy(DUK)

Rogers Reports

Investor Jim Rogers of Rogers Holdings,who recently moved to Singapore,notes that real estate has been down in Asia,on account of Westeners not coming there as much as they had been.There was too much speculation in China,but China and Taiwan have the best markets now,while there is a slowdown in the U.K.,the Netherlands and Spain.The U.S. recession will be worse than expected,but he's been hearing about an oil bubble since it was 3.00 U.S. a barrel.There has been no major oil field discovery in 40 years.There is no production of commodities.Three billion people in Asia want to live as the West does,and now they're working very hard.They have huge ambition and drive.It's a world that used to exist in America and Europe.It's astonishing,Mr.Rogers observed.