Sell Mercedes, Put Gold Rims on Tractor; Jim Rogers on Commodities and Stocks (CNBC Video)

Jim Rogers (Rogers Holdings) was back on CNBC yesterday giving market calls. Below is a summary of what he said plus the video after the jump. He thinks you should dump your Mercedes and put gold rims on a tractor while farming agriculture (not necessarily in those words). Look at previous posts featuring Jim Rogers. He's been right the majority of the time and has timed trades publicly very well.

  • If the economic recovery fails, stocks will go down but commodities will do well (or less bad) as the Fed prints money
  • Sees recession in 2-3 years, perhaps by 2012
  • Waiting to short bonds
  • Farming and agriculture will be a good place to be in next 5-10-15 years. Has been a horrible business for 30 years
  • Silver is 60% below its all time highs
  • Don't sell your gold, if you adjust it for inflation it should be $2,000+ ounce (in 5-10 years)
  • Not all commodities have the same fundamentals (tin vs. aluminum example)
  • Wouldn't sell the Dollar right now due to pessimism; would rather buy it
  • "Mr. Bernanke doesn't know what he's doing"
  • Wouldn't jump on Brazil bandwagon right now