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When we asked Jim if we are finally in a recovery his answer is much to what we expect: “Overall the situation is not improving in fact the situation is degenerating because there’s debt piling up everywhere, staggering amounts of printed money out there, this is going to end very, very badly. I’m not the only one who knows it…It’s going to be worse than 2008 and 2009” On if this is a good time to buy Gold: “Many mines are still can produce gold at cheaper than current prices, but commodities can sell below the cost of production…often you see in history…It cost a lot of money to close a mine, it cost a lot of money to open a mine…likewise oil fields, farms; people continue normally to produce for a while at below the cost of production” On his children and how he’s preparing them to be successful: “I’ve moved them to Asia…in their lifetimes Asia will be the most important part of the world. They both speak fluent mandarin Chinese like natives. I’m trying to expose them and prepare them for the 21st century.” |
