Speaking with The Economic Times of India, Commodities King Jim Rogers, of Rogers Holdings, said he’s betting on gold as he expects Europe’s member nations to receive downgrades of its sovereign debt. However, the U.S.-born 68-year-old Singapore resident is not adding to his position in the yellow metal at this time.
“Governments all over the world are debasing currency; yesterday, the U.S. Federal Reserve said it will continue to debase their currency. The more the governments will debase paper currency, people will take refuge in real assets, and gold is one of them,” he said. Full story
