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why have you sold US Stocks I have sold US Stocks because I think America is going to have problems I would be suspect that the recession is going to be the worst in my lifetime I will buy more gold and I will buy more silver so I would mainly look at China if I were looking to invest more money Indian stock markets have not are not down enough for me yet to buy hello and welcome to Mint Money Talks I your host aaja and today we have a very special guest today we have invited renowned Global investor author and commodity group Jim Roger and he will talk about global markets and where India stands at on a global front welcome Mr Roger welcome on the show today I am delighted to be here I am a fan I'm very pleased thank you sir so let's begin with us markets you have sold US Stocks so do you think that US president Donald Trump will be able to make America great again and at what cost and why have you sold US Stocks I have sold US Stocks because I think America is going to have problems America has not had a serious problem since 2008 that's the longest in American history so I expect America to have problems whether it's Mr Trump or anybody else America's overdue for a problem and we're going to have a problem all right what sort of problems if you can elaborate well we're going to have economic problem we have not had a recession for the longest period in American history it's been 15 or 16 years we have never long gone that never in history gone that long without a problem so in my view we're going to have inflation problems economic problems economic slowdown recession inflation we're going to have various problems all right and uh tariff war is also going on and but Donald Trump has gone ahead with it but he has also delayed uh tariff Wars for some for Canada and Mexico some tariffs he has delayed now what do you think is really Us ad Administration is trying to achieve here exactly what is happening well part of the situation is Mr Trump himself doesn't know what he wants to do you know he's always changing his opinion changing his mind uh he says he doesn't want a recession he wants America to be successful which is great but just because he says it doesn't mean it's going to happen so I would suspect we're going to have an NE economic problems in the US in the next few weeks and recession and probably in inflation as well correct so on tariff War what do you think uh should us Administration do well what I think you know us politicians have very rarely done the right thing but as far as I'm concerned they should cut spending dramatically very very dramatically they should cut spending they should cut the debt and they should cut taxes they're not going to do it they never do the right thing but that's what I would do all right and uh what about uh us recession you think how far is it and we see that dollar Index has already started reducing it's going down so what do you think that how far ahead is the recession now in the US well I would be suspect that the recession is going to be the worst in my lifetime because it's been so long since we've had a very serious recession in the US uh and it's probably going to be very bad because we haven't had a very bad recession in a very long time so now I don't like it but with we're overdue and we're going to have a serious recession and now talking about us Federal deserve uh they have maintained a aggressive stand so far in a long time now if recession does hit America then you think that US Federal Reserve will start maybe easing interest rates will that happen or what is your say on it where do you see interest rates moving going forward well at some point they will cut interest rates because they don't know anything else to do you see the Central Bank in America in most countries but especially in America they're not very smart people all they know is to cut interest rates and that's what they will do they will cut interest rates they will hope that that causes the the recession to get less bad and they hope that the economy will get better it's not but they hope it will all right and uh now talking about gold prices uh gold prices have rallied so you think that with gold already ried should we look at Silver now and have you invested in silver and what should investors do I hope that I'm smart enough to buy more gold if it goes down some more and I certainly hope I buy some more silver Silver's already down and I hope that I'll be buying some more silver soon and some more gold I want to buy more of both and I suspect they will continue to go bound and that will be a good place to invest so the rally in gold and silver will continue that's what you believe I will buy more gold and I will buy more silver gold especially is down from its alltime high silver is down almost 50% from its alltime high so I will buy more more silver first but I will buy more both all right and uh if we talk about Chinese markets then we have seen that foreign investors have started going back to China you think that it's a temporary phenomena or you think that yes uh Chinese markets have recovered and they'll maintain so or is it a temporary phen phenomenon for an is going back to Chinese markets the Americans and the West is going to send more to Gold to China because China has been buying continuing to buy more gold and silver so I suspect there'll be more gold and going to China and partly because the Chinese do not want the American currency they're worried about the American currency so you will see more Chinese you'll see more money going to China from the West all right and uh Chinese markets we have discussed now looking at other Emerging Markets including China where do you see opportunities well I I would mainly look at China because most the markets have done well in the last few weeks Market nearly all over the world so I would mainly look at China if I were looking to invest more money okay so you are looking at China you your money is going to China since you have sold US Stocks so where has your money moved well I mainly have US dollars cash uh because in my view people will be when they're worried they will go to US dollars they think that's safe it's not but they think it is so money will go to US Dollars that's where my money is going now all right and among Emerging Markets apart from China you think that any other Emerging Market also look good in the existing scenario well I have been investing in India optimistic about India for the first time in my life I've been optimistic at time in China I in India before but now I really think that the people in Delhi understand they understand that you have to have a sound economy and prosperity they used to say it but now I think they understand it so for the first time in my life I want to invest in I've invested in India before but never with a lot of enthusiasm now I have enthusiasm when the prices are down okay so you do see valuation Comfort uh in Indian markets now that markets have corrected uh Indian stock markets have not are not down enough for me yet to buy you know Indian market made new all-time highs recently so I want to buy India but not yet okay so you want to buy India but not yet so you mean to say that the recent correction that has happened even factoring in that correction markets are still overvalued that's what you feel well you know I Market time is extremely important and difficult I hope that if Market timing goes down if prices go down that I'm smart enough to buy Indian shares not yet but I hope I hope later okay and uh in India exactly what you are looking at where have you set your eyes on well I don't know it will depend on what goes down the most if you can tell me what's going down the most in India you just send me a list of all the things that go down the most that's what I will buy oh that's great to hear thank you thank you Mr Roger nice talking to you today no thank you it's always I'm a big fan I'm always a fan thank you thank you thank you
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