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hello everyone and welcome to the financial master channel today i have a very special guest one of the biggest investors in the world and best selling authors mr jim rogers mr orders welcome to my show and thank you for accepting this interview it's nice to see you milos i have a couple of questions for you mr jim rogers and first will be what is the current state of u.s and north america economy is it that bad well no it's actually getting much better because the u.s especially i'll start there has borrowed and spent and printed a huge amount of money and whenever you spend a lot of money and print a lot of money things usually get better at least for a while and that's what's happening in north america mexico canada and the us for those who are not familiar enough with this topic does printing money really decrease the value of dollar eventually of course it's like anything else if you have too much of something the value goes down it doesn't matter whether it's apples or whatever it is money everything goes down when you have too much of it you're often telling us that debt levels are unsustainable and about a terrible price we will have to pay eventually can you tell us something more about that well again throughout history countries that get themselves countries or families or companies or people that get themselves too much in debt have to pay eventually you either have to pay the price or or you suffer badly and every country in world history that has gotten itself too much in debt has gone into decline and eventually suffered and that means the citizens have also suffered for those who don't know you're in singapore now yes i live in and my question will be about that why singapore why not united states it is some private reason or maybe something else no no no for many years i have felt that people should teach their children and grandchildren chinese i had two children i wanted them to learn chinese so we moved to singapore in singapore they speak english and they speak chinese everything works in singapore so we moved to singapore so that my children would speak chinese and know asia what history really teach us should we forget about gold and silver as politicians advise us well i haven't forgotten about gold and silver i i own gold and silver um i will i'm not buying any right now but i i know i will buy more gold and more silver before this is over because whenever things get bad when people lose confidence in governments or in money they always turn to gold and silver and they will again and sometime in the next uh wild gold and silver will be much much more expensive when it comes to crypto are bitcoin and other cryptocurrencies really the future well i have never bought nor sold any cryptocurrency so so who knows but uh there are several hundred cryptocurrencies have already disappeared there are a few thousand cryptocurrencies now uh i don't know that they will succeed some people have made a lot of money buying and selling them some people have lost a lot of money buying and selling them my view is that if they ever become real currencies if they ever compete with national currencies governments will outlaw them because governments do not like to lose control governments do not like to lose the monopoly uh i mean i wish they would lose their monopoly but they don't like that and history is pretty clear that if a government doesn't like what you're doing they put you out of business but so far they're just trading vehicles nobody it's not a threat i don't think it's a threat to any government they're just trading vehicles and i don't see anything wrong with that if people want to trade them and you say the copper is the new gold can you tell me something more about that some people i mean copper is making an all-time high in price now some people are very enthusiastic because it looks as though we're going to have electric vehicles in the future and electric vehicles use several times as much copper as regular vehicles so if the world is going more and more electric copper is going to be more and more in demand it's in demand anyway for electricity for infrastructure for other things so copper many people think has an exciting future and it is making all-time highs next question is about inflation your point of view is this the beginning of the end the beginning of the end of inflation now unfortunately throughout history governments like to take the easy way and the easy way is to inflate so we will have more inflation in the u.s and the world not just in the u.s but everywhere in the world because when you have the large economies inflating everybody inflate so it's not good for the world but we have more inflation coming some people think that commodities are as they say boring can you tell me what you think about that statement well i do i have commodity indus indexes and i do i own commodity etfs that are traded on the new york stock exchange i i hope they're boring because if they're boring i might make a lot of money the things that go straight up and usually go straight down so i hope that these boring uh commodity and etfs just go up steadily for a long time i'll make more money that way next question is about something that you mention you say don't let hot tips ruin you why you say that and do you still think that we should not listen these hot tips hot tips will ruin you i've been around a long time and hot tips nearly always wrong it's somebody who doesn't know what she's doing or trying to drive the price of something up it's most often not a good way to invest if you can invest and make money with hot tips do it but nearly everyone will tell you that hot tips will cost you money stay if you want to be successful stay with what you know not do not listen to hot tips do not listen to other people just invest in what you yourself know a lot about you are a successful man can you tell me in short notes how you succeed what was your main goal and what is your goal now well my main goal when i set out i didn't have any money and i wanted to buy my freedom i didn't want a lot of cars or houses or airplanes or anything i just wanted to have enough money to be free to do what i wanted uh and i still don't have an airplane or boats or things like that or a lot of houses i just want the freedom to be able to live as i want to live and to do what i want to live without having to answer to a lot of other people that was my goal and so far i have succeeded and for the end if i ask you to tell me your message your advice to our listeners what advice that will be well if you want to be successful and make money as an investor you should stay with what you know do not listen to the internet or tv or hot tips just stay with what you know if i tell you you can only have 20 investments in your life you would be very careful about what you invest in and you wouldn't jump in and out you wouldn't listen to hot tips you would just make a few investments in your life and you would make a lot of money i hope that everybody will will just stay with what they know it may it may not be as exciting as jumping in and out every week but it's certainly much more profitable okay mr rogers thank you very much for your time and good luck thank you milos thank you very very much bye bye you
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