Is a massive financial crisis about to occur? Perhaps it isn’t imminent as tomorrow or next week, but it could happen sooner than the average financial expert expects, says legendary investor Jim Rogers.
Speaking in an interview with Kitco News, Rogers explained that the “worst” economic collapse could unfold in his lifetime, and as early as next year.
Here is what the Commodities Guru told the website:
“We could see the worst crash in my entire life pretty soon.
“We’ve had economic problems in the US, in North America, every four years since the beginning of the republic, to say that we’re going to have a problem is not unusual.”
As a result of the impending financial doom, Rogers believes gold will skyrocket since investors will flock to the yellow metal as a safe haven instrument:
“Gold is going to be explosive in the next few years.”
At the time of this writing, gold is trading at $1,287 per ounce.
Mr Rogers neighborhood – gold bug king, has been pushing gold and doom and gloom since forever. Why? Because he makes money pushing gold. But ask anyone who purchased gold in 20011 at $1850 per oz, how that purchase has done in adding to their wealth. Gold price went down during the last financial crisis, not up.