Pointing out today on CNBC’s “The Kudlow Report” that the US is not the only major economy in an election cycle, well-known investment guru Jim Rogers implied that government leaders from the US as well as Europe would heavily spend taxpayer money in an attempt to give a false sense of well-being going into the election cycle.
“Worry about 2013. Be panicked about 2014,” Rogers said. He went on to say that he feels Obama would win, pointing out how difficult it is to unseat a sitting president. “I don’t want him to win. It’s not good for America.”
Rogers has been steady and clear in his feelings about how to best weather the financial debt crises on both sides of the Atlantic: commodities, and in particular gold and silver. “You want to have a good portion of your money in something you can hold on to,” he stated.
Rogers is not alone in his feelings that pain is coming in the next few years. Dallas Fed Chairman Richard Fisher stated March 22nd of last year, “If we continue down the path on which the fiscal authorities put us, we will become insolvent, the question is when.” Fisher was in the news today stating that he felt the five largest US banks should be broken up to avoid future ‘too big to fail’ consequences of another financial crisis.(3)
So be clear, the warnings have been coming for some time and from all points of the economic compass.
Protection is easily purchased in silver and gold.
All opinions are of blogger alone and do not necessarily reflect the opinion of Birch Gold.