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Jim Rogers: We are buying land in Brazil and Canada and starting to farm it

http://www.youtube.com/watch?v=-u9gPykOkdA

Quotes from Jim Rogers’ interview (video at bottom):

  • “We’re still going to eat probably. We’re still going to wear clothes probably. You know nobody — Farmers cannot get loans for fertilizer right now. So the supply of everything is going to continue under pressure. Uh the inventories of food are the lowest they’ve been in 50 years. We have serious supply problems developing for many mining goods, oil, agriculture. So even if demand goes flat or down as it did in the 30s as it did in the 70s you can still have a nice market.”
  • “What we’re doing is buying land in Brazil and the other is buying land in Canada. … If I’m right agriculture is going to be one of the great industries of the next 20 years or so … 30 years … maybe we can change this to CNBC agriculture.”
  • “We are buying some land … and turning raw land into farm land. . . . we are hiring farmers.”
  • “You know the IMF is trying to sell their gold and if they do then they may drive the price of gold down a lot and if they do Martin you better buy all you can because that will be the last opportunity to buy gold in a long, long time.”
  • “Throughout history when governments have printed huge amounts of money it’s always – it’s always led to higher prices.”
  • “I still own the yen and hope to buy some more yen if it continues to consolidate for awhile.”
  • “I expect to own commodities for years.”

(H/T to Tim)

Rogers has been busy lately (Or in high demand). Here’s more from him:

[video:youtube:-u9gPykOkdA]

@ http://www.youtube.com/watch?v=-u9gPykOkdA

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Jim Rogers on The Oracle with Max Keiser

http://www.youtube.com/watch?v=k7PWkHgxkTI

[video:youtube:k7PWkHgxkTI]

I’ve not seen Max Keiser’s program The Oracle before, but since my current favorite billionaire Jim Rogers was on the show, I had to watch.

It’s about a ten minute clip and I can’t say there’s anything particularly new that comes out of it from Rogers (You can get almost all the same soundbytes from reading Jim Roger’s most recent interview with Maria Bartiromo). The new tidbits I did enjoy are paraphrased as follows:

  • Rogers doesn’t have much respect for the IMF and believes they will likely end up selling all of their gold before going the way of the dinosaur.
  • He points out how the Swiss banks are bigger than the Swiss government; the takeaway being that if the Swiss government tries to bail out the Swiss banks, they are likely to go bust themselves — the Swiss government being like a lifeguard trying to save a panicking man from drowning when the man can’t swim and is twice the lifeguard’s size.
  • When asked in a jocular manner if he had any gold coins on him at that moment, wouldn’t you know it he did (he pulled out a coin from his pocket)
  • Rogers is currently in Singapore. He’s moved to Asia (and sold off his NYC house), so this isn’t surprising though I think he’s officially calling China home these days.

(H/T to Ritholtz)