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we spoke with commodity Guru Jim Rogers and um let's see what he's been buying and what are his views on the commodity rally right now I know that what is supposed to happen is another one of those cases of what everybody knows doesn't happen uh yes gold has often been a inflation hedge but many times as you know I'm sure you watch ET now many times gold has done badly no matter what's going on in the world so I I wish life so simple okay so that's a take coming in I'm guessing that perhaps people must be buying more gold when it comes to the Valentine's Day gift as well uh Jim Valentine Day gift Anisha that's a new one for me I've heard people buying roses on Valentine Day you actually get the game I'm just no you got gold on Valentine Days Anisha I'm just curious that's the first one I've heard hints that perhaps it's not a diamond goal this time let's see what I really get but Jim if you had to buy something what would that be well had to buy something I would buy silver silver is much cheaper than gold on a historic basis but I did send my wife flowers today and my daughter's flowers so I bought flowers and maybe some silver here's some silver in my pocket in your pocket so you have it handy and that's a that's a sweet gesture Jim but uh clearly not seeing any love I know you were talking about all that pessimism and you know perhaps back home as well we're discussing uh a lot of factors like inflation maybe not recession back home but what is it that you're expecting is going to be the next big uh trigger in terms of uh you know what is going to be that asset class really that is likely to outperform down the line what do you believe one should do when it comes to diversification in their portfolio well if I I would say probably Japan probably uh China right now because both of those markets are still down from the historic highs um May India I mean India's been a strong market for years as you know you've done a very good somebody's done a very good job in India but I would suspect Japan or China would be a better place to diversify diversification is the name of the game but Jim what about uh the dollar of course from that 115 level we had seen the dollar Index reverse quite a bit but it's been quite sticky around that 103 Zone uh do you see a bit of a correction here or is it likely to head higher well first of all no diversification is not something I am keen on diversification is something that Brokers thought up so that they don't get sued if you want to be successful you don't diversify you focus you focus you focus you have to be right if you're wrong you're going to go broke but if you want to be rich you have to focus narrowly in the right things uh so please I I know everybody talks about diversification but I'm not going to talk about diversification as far as the dollar I own own US dollars I expect the dollars to go higher before this is over because when we have turmoil again everybody's going to look for a safe haven and they think the US dollar is a safe haven it's not it's not but everybody thinks it is so I own a lot of US dollar still Jim now whether it is recession or uh peak of inflation some would argue that interest rates globally are nearing its peak at least in the interim is it a good time to park cash back to bonds well cash depends on which cash first of all um you own the wrong currency you're going to get ruined uh I am not buying bonds I expect interest rates to go higher over the next few years I mean you're not you don't remember but in 1980 when we had the last inflation interest rates on short-term treasury bills in the United States were 21% that's not a typo short-term treasury bills were at 21% it's going to take a lot to kill inflation this time because inflation is worse now not this month not this week but before this is over interest rates will go much much higher Jim the Joker in the pack is that Ukraine and Russia are still at a war now there are two assumptions here if they continue to remain at War what impact it will have on inflation and Commodities and in next 6 months if there is a ceasefire how will that impact commodity prices and underlying demand very good point uh if I I I don't know why this war keeps going I don't know who's getting anything out of it neither Russia or America no Ukraine but if it ends or if there's a ceasefire everything is going to react stocks are going to go up a lot bonds will go up a lot and oil will go down grain will go down but if I what I plan to do if that happens is to buy Grain and to buy Commodities because that will be a buying opportunity
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