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.