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Friday, October 9, 2009

Jim Rodgers: Commodity boom to last years


The chairman of Rogers Holdings, based in Singapore, believes the weakness of the dollar will underpin a flight towards commodities.

"I don't see any adequate supply situation in any commodity market over the next decade or two," he said. "The commodities boom is not over and the bull market has several years to go.

"Commodities are the best place to be, if you ask me, based on supply and demand."

Oil could reach between $150 and $200 per barrel, as known reserves begin to decline.

Mr Rogers believes that "unless something happens", crude oil will run out in 15 to 20 years. Although plenty of large oil discoveries have been made lately, the commodity is increasingly hard to extract from the ground.

"The supply of everything continues to decline," Mr Rogers said.


3 comments :

Anonymous said...

Hey Palmoni,

What you think of the new auditor for MGOL?

Also what's up with Obama winning the Nobel Peace Prize?? It's going to be so ironic when he orders a missile strike against Iran down the road... LoL

Anonymous said...

on that rate rise/dollar strength topic:

on the rate rise/ dollar strength thing:

"With the tightening talk now growing louder, equity markets continued to perform well this week—stocks rallied sharply after the Reserve Bank of Australia made their surprise move. While that might seem counterintuitive on the surface, it’s actually normal behaviour for stocks to cheer rate hikes coming out of a recession. For equity investors, the benefit of strengthening economic and earnings growth outweighs the cost of higher interest rates this early in the cycle. As the cycle ages, and further rate hikes are needed to quell inflation pressures, tightening eventually begins to weigh on stocks (for example, it’s not totally uncommon to see them sell off on a strong employment report late in the cycle). Right now, however, we’re still in the first phase." BMO Capital

Palmoni said...

auditor is a non event--just being used for the auditing and the finalization of the merger-when that's complete MGOL then can raise serious cash on the assets in the ground.

then they'll engage a big 4 firm