Jim Rogers Says No Paper Currency Will Be Worth Much Of Anything In 2014/5

JIM ROGERS - All FIAT CURRENCY will be WORTHLESS in 2014. Dont SELL GOLD or SILVER
Legendary investor Jim Rogers sees now as a great time to load up on gold and silver coins - and he's not alone.

A record 7.5 million ounces of silver coins were sold in January as investors hunted for a safe haven investment.

"You can't get [silver coins]. They sell out," Rogers, who owns a rare 2013 silver coin, said on Yahoo! Finance's "The Daily Ticker." "Several mints have run out of coins because everybody's worried about the future of the world."

And 150,000 ounces of American Eagle gold coins were sold in January, the highest monthly total since July 2010.

Currency Vs Money

Is gold in a bubble?

By Detlev Schlichter

To answer this question is not straightforward. As the gold-sceptics keep reminding us, gold pays no coupon and no dividend, it does not offer a running yield, so traditional measures of ‘fair value’ do not apply. But gold is money, and just as the paper ticket in your wallet does not pay interest, neither does gold. Gold is a monetary asset that has functioned as a medium of exchange and a store of value for thousands of years, around the world and in almost all societies and cultures. Many modern economists believe that gold has now been successfully replaced with state paper money, such as paper dollars, paper euros, paper yen, and so forth. Holding gold is therefore redundant. The present crisis is a stark reminder that this faith in fiat money is misplaced.

Gold is still a superior monetary asset. It is not under the control of any political institution. It cannot be printed to artificially lower interest rates and to ‘stimulate’ the economy, to create fake booms in financial assets and in real estate, to fund credit growth with printed money rather than true savings, to subsidize the banking sector and then bail it out when the banks overreached, to allow the government to run never-ending budget deficits, to make unfunded promises to voters and fund wars. Gold is hard, inelastic, apolitical and truly international money. It does not bow to anybody. Paper money is a political tool.

Jim Rogers 'Don't Sell your Gold and Silver Coins'