Jim Rogers: Western world needs additional crisis to get out from under all its indebtedness

Jim Rogers admited in an inteview for IndexUniverse.com, that it will be required an additional crisis for the Western world to get out from under all its indebtedness. The author of "Hot Commodities" is so bullish—particularly on agriculture these days — that hearing what he has to say can leave you a bit unsettled. When IndexUniverse.com managing editor Olly Ludwig caught up with Rogers recently, he said new RBS' lineup of commodity ETNs that have his name on them are so far superior to the competition.

Surveying the world of agriculture, Rogers talked about the growing shortage of farmers around the world at a time of tight food supplies. He also reaffirmed his bullishness on gold—and his bearishness on bonds—both of which are closely tied to his skepticism that the US and the rest of the industrialized world will ever get out from under all its indebtedness without some additional crisis.

His most surprising revelation? After dismissing Russia for years as a dangerous investment destination, where losing money was almost guaranteed, he said Russian President Vladimir Putin has changed his approach to foreign investment. That means Rogers is poking around the commodities-rich country looking for ways to profit.

Prepare for the recession, get some agricultural commodities and silver, urges Jim Rogers

The recession is coming, there is no way to prevent it, warns renowned investor Jim Rogers. For couple of months the chairman of Rogers Holdings and Beeland Interests, Inc. is calling for recession. The reason for this is that he feels United States' enormous debt levels and upcoming fiscal cliff will propel into yet another economic spiral.

Jim Rogers stated his opinion that the next two years - 2013 and 2014 will be worse than the fallout four years ago in 2008. The Federal Reserve has announced an extremely aggressive QE3 and that forced Rogers to become extremely bearish on the U.S. dollar. In the investments guru's opinion, it will suffer the same losses that the pound sterling did years ago.

But there is something we can do about the upcoming fall as Jim Rogers shared his ideas how to overcome the recession. He advices to go for agricultural commodities. Based on history, Rogers feels these assets are depressed and that they will have plenty of room to run given rising demand for food around the world.

Second, Rogers stated that he likes silver better than gold as he feels it to be undervalued by comparison. The bull market in gold won’t end until it too reaches a bubble sometime near the end of the decade, so there is good chance to win if you bet on silver.

And lastly, Rogers has been boasting two foreign currencies. His eyes are set on Asia and he considers Japanese yen and Chinese renminbi as good investment. Mr. Rogers is not worried about a China slow-down in the last year.

Jim Rogers: Much bigger problems around the globe than the drought in the US

The international investor and commodities guru Jim Rogers warned that there are larger problems in the global agriculture than the drought in the United States. The problems in the US are very serious since the Midwest is facing a crisis following the lack of rains that is causing soybean and corn crops to wilt.

Although that the current temperatures in some regions of the United States are exceeding the records from the Dust Bowl era, Rogers believes that these problems are nothing compared to the larger problems in the global agriculture as a whole.