저자: JimRogers · 외국인
요약 보기
Rogers는 금 재진입 가능성에 회의적이며 정치인들이 규율을 싫어해 실현이 어렵다고 봄. 트럼프 행정부의 금 정책 기대와 달리 현재 금은 보유 중이나 하락 시 추가 매수 의향, 은을 최근 더 매수함. 연준 의장 교체 가능성과 그 후임이 건전하지 않을 것이라 전망. 부채 과다와 관세는 장기적으로 비용 증가로 부정적이라 평가. 중국·인도 등 경쟁 심화 언급.
다듬은 글
Jim Rogers, the iconic investor behind the Quantum Fund and author of Investment Biker, is a global markets legend with a lifelong passion for gold as a timeless asset. In 1984, a young Scott Bessent, now the Treasury Secretary, became Rogers intern, crashing on a pullout sofa in his New York office.
Under Rogers mentorship, Besson honed his macroinvesting skills and absorbed a deep respect for gold's role as a hedge against economic chaos. Today, Besson's gold positive stance as Treasury Secretary, pushing to revalue America's gold reserves is really thanks uh to I believe everything he learned while he was lucky enough to uh intern alongside Jim Rogers.
Jim joins us today. Jim, always good to be with you. Welcome back to the Dingle Konu Show. I am so delighted to see you again. It's wonderful. I don't I've known you a long, long time. I've known Scott Besset longer, but you are fabulous. It's great. Well, thank you. Thank you, Jim. Maybe I'll be Treasury Secretary one day.
Um, I did not know that fun fact until he brought it up, you know, randomly in some some interview. I think it was CNBC. I mean, first and foremost, uh, what do you make of the fact that, you know, he was your intern and now he's treasury secretary here? Well, I guess his life has gone downhill, you know,
for sure. He since being my intern, no, he was he knew nothing about money, finance. He had planned to be a journalist. He happened to have this internship with me, this summer job, quite by chance and it was wonderful. It was great. Uh part of the situation was I was trying to get permission from China to to cross China so I wasn't there so much.
But he was eager, enthusiastic, and a smart guy. Yeah. And look at him now. And look at him now. and look at how gold I mean since I've been covering gold I I I I've never seen an administration include it in the narrative. So I think the bigger question I have for you of what what do you make of the fact that there's talk of gold re-entering potential the system?
Well Daniela, I've been around a long time. There's always been somebody talking about gold re-entering the system. There are many people who want it, who advocate it, and maybe the world would be better off. I don't think I own gold. I own silver and I will buy more silver soon. Uh not gold until it goes down.
But no, I Yes, it would be wonderful if we could really change the system, but I've heard this talk all my investing life, which is a long time. You're doubtful. Well, I just say I've heard it before. I've heard it for many, many years. Many people advocate it and it's a very good. It's certainly something we should all discuss and decide on.
But will it happen? The problem is Daniela, there are many people who are against it, especially politicians. And the reason the the reason they're against it, Daniela, is because it imposes discipline. And politicians don't like discipline. You know, if if you have strict money, strict monetary standards, people cannot just run up huge gigantic debts.
Gold puts discipline on people. You It comes a time when you cannot print money freely. You have you cannot just spend money like crazy. So people eventually that's one reason people don't want gold. It's too too much discipline. It makes you wonder, right, Jim? But if the if the Treasury Secretary is a pro gold guy, if he can convince the president to become pro gold, which I believe he can, and if then they place a Fed chair, pick one that's in favor of gold, what could possibly go wrong?
Well, that's wonderful. I hope that happens. But Daniela, look out the window. There are many other countries in the world, and they all will have a say. And especially since the US is such a gigantic debtor, they all will have something to say. Now, it doesn't mean it won't happen. It's happened before.
We need some kind of outside discipline on all of us. Goals might be it if we can come up with an agreement. He's also spoken so much about detoxing the system. I mean, Jim, if you had to start, I mean, it's such a a massive topic. I mean, where does one even begin to detox the American system? Daniela, look out the window.
The debts are the highest in the history of the world, just in the United States. No country has ever been so deep in debt as we are. And it gets worse every day. And yes, I hope somebody can detox, but to really change things is going to cause a lot of pain for somebody. Yes, we need it. Yes. Yes. Yes.
But when people the problem, Daniela is that when people start, everybody will say yes. But then when the pain starts, people will say, "Wait a minute. Wait a minute. I didn't know it was going to be this much pain. Let's stop. Let's stop. I want the easy way." Makes you wonder what happened for our tolerance for pain.
Back in the day, people took the pain gym. Yes. Yes. No. No. No. I can remember when the America wanted to have a balanced budget. I can remember when America didn't want to run up huge debt. I can remember when people when America wanted to pay its bills in gold and other, you know, convertible assets.
I'm just saying to you if everybody tomorrow and maybe they would tomorrow say yes, let's do it. You're right. We've got to do something. We need something now. The problem Daniel is six months later, a year later, whatever it is, when the pain starts, people going to say, "Wait a minute. Wait a minute.
Yeah, we we need something, but this is too much pain. Let's try something else and we'll go back to it an easy way." want to ask you about the Fed a second here. Uh Jim, I know I've listened to another interview where you reminded us that this is not the first time in American history where a president has threatened to remove uh the Fed chair.
I think everyone thinks it's shocking, but you remind us it's not. What do you think? How does this play out? Does Powell remain till May? You think? What's your gut telling you? Well, my guts is saying that I don't know if it'll be till May, but he's going to stay for a while because it would just cause such chaos or certainly cause a lot of upset if they fired the Federal Reserve chairman.
So, I doubt if that's going to happen. I suspect even Trump knows that. But that I mean, he's certainly on the way out, Daniela. There's no question about that. We will soon start figuring out or Trump will soon start figuring out who is going to be his replacement. People will start talking about that.
And once it's known who the replacement will be, that's as good as he's gone because the replacement will start having more and more influence and more and more sway. Now, your next question could be, is the next chairman going to be sound? And I would say probably not. We should have a sound Federal Reserve chairman.
We need it. We've had a few in history. I'm not hopeful. Let's give some tools now that I have you on. People want to know how Jim Rogers sees things. And one important thing I I've read that you've said is that the difficulty with President Trump is that there's he doesn't have like an underlying philosophy.
So it's difficult for outsiders to predict what's coming or to prepare or have some sort of understanding of okay I could turn here, I could turn there. So what does what should how does what should we be how can we prepare Jim is the question. Well, that's a brilliant question. I hope you can come up with the answer.
You know, if it were Margaret Thatcher and something happened, we more or less knew what she would do because we more or less knew how she thought and what she thought. The situation with Mr. Trump is he doesn't know. He changes all the time. He gets up, watches you on television or somebody on television and that's his mood for the day.
I don't think it maybe Mr. Maybe I'm wrong. Maybe Mr. Trump does have a deepseated underlying philosophy that guides everything he does. But so far, I have not seen him. Mr. Trump blows with the wind, which is fine as long as you blow the right way. And I don't know what Mr. Trump would do in a crisis.
I don't think he knows. This administration seems intent on getting a lower dollar. Is that a right strategy? Well, I mean, many politicians throughout history have tried to debase their currency. They think and it does make the economy more competitive, at least in some ways, at least for a while. But debasing the currency and drives up the cost of living for your citizens and eventually everybody suffers.
If you ask me, debasing the currency, driving down the price of doing business, it's great for a while, but in the end, we all suffer and we all pay the price. I mean, Daniela, I'm not the first person in history to realize that a sound, strong currency is good for a country. I've never heard anybody say the best thing we can do is debase our currency and ruin our currency.
Maybe there are people who believe that and there are certainly have been many people who've done that in history around the world, but nobody's ever figured out a way to make that a good policy for the long term. Jim, some comments on tariffs here. I know we've spoken about it in past interviews and I know how you feel about them.
I've had very few experts come on this show saying they are a good idea, but from what you're seeing, and maybe it's still too early, the data can't tell us yet. Uh, do you think there's any do you think there's any chance that this might actually be a good play? But Daniel, tariffs are an extra tax.
It drives up the price of doing business. It drives up the price of everything. If you want to pay more for your wool sweaters, great. But in my case, I prefer not to pay more for things. I prefer to pay the light lowest price possible. And tariffs or taxes, taxes which drive up the prices of goods.
In my view, that's not good for America. That's not good for anybody. People have been doing tariffs for hundreds of years. They would all tell you I'm wrong that tariffs are good. I don't see it. I know that temporarily they they are temporarily they help some people, but it's temporary and it's only a few people.
Jim, which nation would you say is the greatest threat to the United States right now? Threat? Well, it depends on what you mean by threat. If you mean who's going to invade the United States, I doubt if anybody is. But as far as trading threat is concerned, I mean many people have learned to do business cheaper than we can.
We all know what's happened to China. We know I know what's happening in India now. India is getting itself together in a very very interesting way, exciting way. So they're going to be more and more economic competitors which have an advantage in the future. Jim, we've al we've obviously spoken about gold uh nauseium throughout the you know the decade or more that I've been it's more than a decade probably 15 years I've been interviewing you.
When we started eight it was $800 an ounce and now look at us look where we are now. Uh, what did you make of the recent rally and run that gold's had, Jim? Well, Danielle, all I can say to you, I don't have a I'm not a good market timer. I own gold. I will buy more gold if it goes down. If I were buying something today, I would buy silver.
I bought more silver recently, and that's because silver's down 30 or 40% from its all-time high. Gold is making all-time highs. So, I own both. If I were buying, I I have bought more silver recently. If gold goes down, I hope I'm smart enough to buy more. And if you ask me when I will sell my gold, Daniela, I hope I never sell my gold.
Exactly. I hope that my children own my gold someday. Absolutely. So for the people out there watching who perhaps have not stepped in go on gold yet, Jim, what would you what's what's what you say to them? Buy some silver now and if gold goes down, buy some. Everybody should have some gold in the closet.
Everybody should have some gold under the bed because whether we like it or not, gold will always be there when we need it. Fantastic, Jim. Thank you so much for joining us today. But Daniela, it's always a great thrill and pleasure for me. I'm very flattered and I hope you go home and buy some gold.
I I you know I own gold, Jim, but I'm still buying gold. I know. I know you bought some gold. Buy some gold for your kids. Absolutely. Like you those babies need gold. Like you. I hope uh I never have to sell it and they will get all of it uh one day. So there you go. And if if you don't want to leave it to them, leave it to me.
Okay. Well, you know what? Uh you've been a great mentor to me. So, thank you. Just like Scott Best said. So, that that you're you're a big part of the reason I'm on this gold trajectory. Thank you, Jim, for showing me the way. And thank you all for tuning in to the Della Cambon Show here on ITM Trading.
We we spoke about gold investing. If you haven't started yet, look, I know it's the summer and we kind of get a little lazy or you know lose the eye on the prize, but it is so critical to be prepared and get ahead of the game. So, call my wonderful colleagues at ITM Trading, tell them I sent you. They'll take extra good care of you and just get started.
It's a free strategy session. I urge you all to do it. There's a Calendarly link below in the description and you could choose the best time uh and date that works for you. We will see you soon.
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