In an interview on Friday, July 28, with Kitco News, best-selling author and billionaire investor Jim Rogers warns of an economic downturn starting either this year or next year.
“I would expect it to start this year or the next…and it’s going to be the worst in your lifetime and my lifetime.” (Source: Kitco News)
By describing it as the worst in our lifetime, he is saying it will be the worst crash since October 1929. However, if history repeats itself, we should not be looking for a single calamity, but an extended downturn. After the 1929 crash, financial markets did not hit bottom until three years later.
Jim Roger’s warning sounds similar to a prophetic warning from Rachel Baxter, “This fall the mighty fall will begin in earnest and there will be no slowing.” (see complete post)
I believe the key words in her warning are, “will begin.” In other words, what is coming is likely to be the first tremor of an extended downturn. If history repeats, it might take several more years before we reach the bottom.
So what is Jim Rogers doing to prepare for what’s coming? Well, he’s not buying gold, at least not yet. In the same interview, he said he’s waiting for it to drop below $1,000.
“I’m not buying gold and have not bought gold. I own gold and have owned gold for years but I’m not buying or selling it at the moment.”
“If and when gold goes down a lot, or under $1,000, I hope I’m smart enough to buy more gold because in the end, gold is going to go up a lot because when people lose confidence in governments and paper money, they always put their money in gold and silver.” (Source: Kitco News)
Gold has not traded below $1,000 since 2009. However, the late prophet John Paul Jackson prophesied it would get there again before it eventually skyrockets, which is good news for anyone still wanting to stock up.
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
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