Jim Rogers: Gold going higher, paper money being debased

Financial guru and author Jim Rogers stated this week that gold bullion's value will rise much higher over the next few years. He also said paper money is being debased and the price of real assets will enhance.

Co-founder of the Quantum Fund and Chairman of Rogers Holding, Jim Rogers, spoke with Reuters last week and stated that he will be a bull on commodities for the next decade, or even longer, mostly due to the current financial system weakening and fiat currency debasing. One ounce of gold reached the $1,220USD mark but then contracted down to now $1,177USD but Rogers sees gold reaching record higher for the next few years because of the major currencies, Euro, United States dollar, Swiss Francs and British Pounds, weakening. “I certainly expect gold to go much higher over the next few years. Paper money is going to be debased and the price of real assets will be enhanced,” said Rogers. “I don't see the new commodity supplies coming that will end the bull market.” In an interview with GoldSeek Radio this week, the author of “Hot Commodities” explained that he is not thrilled with the $1 trillion European bailout, which he says will “ensure that the Euro will disappear some day because now it means anyone can do whatever they like because they're going to be bailed out.” Rogers said he owns the Euro but is having second thoughts because of the recent policy implemented by the Euro Zone.