Friday, April 22, 2011

Jim Rogers: Dollar to Collapse if Silver Hits $150

By Julie Crawshaw
MoneyNews.com
April 22nd, 2011

Famed investor Jim Rogers says he is worried about silver continuing to surge too highly and quickly and warns that if it hits triple digits in price this year, it could collapse the dollar.

He said there’s no bubble in silver yet but should the precious metal hit or top $100 an ounce this year, he will sell before the bubble bursts.

Silver’s move “is not parabolic yet,” Rogers tells gurufocus.com. “I hope something stops it going up. All parabolic bubbles pop. All parabolic moves end badly. Maybe the U.S. dollar becomes confetti and silver goes to $150 — that would be a U.S. dollar collapse.”

“I’m worried about silver,” he said. “If silver continues to go up the way it has been in the last two or three weeks … then it will get to triple digits this year,” he said.

“My hope is for silver and gold and all commodities is that they will continue to go up in an orderly way for another 10 years or so … eventually the prices will be very, very high,” he said.

Rogers shorted gold when it went parabolic in 1980. “It eventually collapsed,” says Rogers. He said gold and silver will be a bubble some day, as he says all commodities will. But he doesn’t think it wilhttp://www.blogger.com/img/blank.gifl happen in 2011, but likely in a few years.

What has gotten people’s attention is that gold has been going up and up, according to Rogers.

“That is the wrong way to invest,” he says. “I own gold and silver, but it was five and 10 years ago that they should have been buying gold and silver.”

Continue reading here: http://www.moneynews.com/Headline/jim-rogers-silver-metal/2011/04/22/id/393764

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