But how can we not ask you on silver because you have been bullish and you have said in the past that if there is one thing that you wish to hold for the next 10 to 15 years, that is going to be silver. What is the latest that you are gathering because we have already seen silver hitting a 14-year high for itself. So, between silver versus gold, is that the same preference still for silver?
Jim Rogers: Well, I bought more silver last week. If silver continues cheap, I hope I am smart enough to buy more. I own gold. I am not buying gold. I am buying silver because silver is down. Gold is not. But both of them, I hope that my children have my silver and gold someday. I do not see any reason ever to sell my silver and gold. I hope they will be part of my estate for my children, for my family.
But what is your sense on the kind of move that we are seeing in the dollar index? It has slipped sharply ever since Trump has taken office and we have not seen a meaningful recovery so far. Any views on the dollar index?
Jim Rogers: Well, I own the US dollar. America is the largest debtor nation in the history of the world and the debt gets worse every day. So, my plan is that when the dollar goes up in a big spurt because people, I do not know why because they are afraid of other things, I hope that if the dollar has last spurt that I am smart enough to sell it. Now, my question is, where do I put my money then? And I do not have an answer yet. I do not know another currency that can compete with the US dollar. If you know it, please do not announce it on the air. Please send me a private email because I am looking.
I understand your scepticism about what the US tariffs are going to mean for the world and yes, you crib about the fact that you did sell early, but it is what it is. But tell me what happens to the domestic liquidity, case in point being markets like India. While month to date the foreign institutional investors have been sellers, but it is the domestic liquidity which is keeping the markets up. Do you feel that domestic institutional investors not just here in India but pretty much across the board will keep equities range bound and we may not see a very massive correction play out from the record highs which pretty much all world markets are sitting on?
Jim Rogers: Well, if I am right about India and if Delhi really has learned that prosperity is good for India and that success is good for India, India is going to be one of the great economies and great financial markets of the world. I mean, it has been there for hundreds of years. You know India has had some very successful periods in history. It looks to me like we now may be entering another period where India is going to be one of the new great countries of the world. It may be the new China.
It may be better. Who knows? But if Delhi understands because there are lots of very educated, smart Indians, ambitious Indians. Oh my gosh, if you go to an Indian market, you will see some unbelievably smart people, sophisticated people. India has it all. And if Delhi has the right attitude, India is going to take its place again as one of the most important countries of the world, most successful countries of the world.
But what is your world view on equities right now? I understand pessimism around US equity markets, but is that the same for emerging markets, maybe some of the South American indexes or China? What is your view there?
Jim Rogers: I have sold everywhere except China and Uzbekistan. I am looking for other markets. I have not found one yet. I need to find a country that is depressed for any reason, where there are good things, where there is good change taking place. China and Uzbekistan are the only two countries now that I know of like that, but I am looking and as I say if India goes down, I hope I am smart enough to buy India again.