INTERNATIONAL. The commodity bull market will last longer as a consequence of the global financial crisis, Jim Rogers CEO of Rogers Holdings, told Commodity Online in an exclusive interview.
”We have had eight or nine periods of forced liquidation over the past 100 to 150 years wherein everything was liquidated without regard to fundamentals. This is such a period,” Rogers said.
Rogers, said the commodities market is these days hit by the prospects of growth slowdown in countries like China and economic pessimism in the US and Europe.
”Historically the things which have come out best on the other side are things where the fundamental have been unimpaired. Commodities are the only thing I know with unimpaired fundamentals,” he said.
”The cyclical demand for commodities may slow, but the secular supply will be badly affected so the commodity bull market will last longer and go further in the end,” he added.
"I have an enormous amount of cash and I've been using it to buy more Japanese Yen, more Swiss Francs, more agricultural products....There's a liquidation phase going on, where everything is being liquidated. They're selling everything in sight," Rogers said last week speaking on CNBC.
"In a period like this the way you make money coming out of it is to own the things were the fundamentals have not been impaired."