The next [financial crisis], when it comes, is going to be the worst in my lifetime.
Burbank, CA (PRWEB)
August 09, 2017
Jim Rogers, former business partner of financial industry magnate George Soros, has warned Birch Gold Group in an exclusive interview, “I know we’re going to have another [financial crisis]. What I said was, the next one, when it comes, is going to be the worst in my lifetime. 2008 was bad because there was a lot of debt. Well, the debt is much, much higher now.” He continues, saying, “People talk about austerity but nobody, nobody has reduced their debt. Everybody has increased their debt. The Federal Reserve in the U.S. has more than quintupled its balance sheet alone in nine years.”
As someone who has accurately forecast severe financial crises in the past, Jim Rogers was questioned about what moves he will personally be making. “I will not buy shares in the U.S., under any circumstances. Not now. If you have to buy shares, Japan is down 50% from its all-time high, China is down 50% from its all-time high. Russia is hated. There are markets in the world that are not racing after all-time highs if you have to buy shares. Now, I don’t have to buy shares so I’m not buying shares.”
He had equally compelling remarks to make about interest rates. “It’s all absurd what’s been happening! If 20 years ago we had said, ‘Interest rates are going to go to zero and they’re going to go to negative,’ people would have said that’s incomprehensible, it cannot happen.”
Rogers was also asked his opinion on precious metals as part of one’s savings. “I own gold and silver, I haven’t bought any gold and silver significantly since 2010, but I haven’t sold any gold and silver. I’m hoping to buy more gold and silver in the next year or two.” Interestingly, Birch Gold Group’s guest often carries precious metals on him and placed a handful of silver coins down on a table in the middle of the interview.
“We’re committed to sharing high-quality, educational information with our customers about the most pressing financial news that affects their savings,” says Peter Reagan, Financial Market Strategist for Birch Gold Group. “We’re thrilled with the insight that Mr. Rogers had to share with us and our customers. He has a…