Jim Rodgers gives his thoughts on the current situation in the US. Gold is not in a bubble, but silver is a better deal. This is not the time to buy US stocks, and stay far away from US bonds and government debt. Jim is looking at commodities and foreign markets. Foremost he is urging us all to become farmers.

Maria: What about copper and things that are tied to the global economy?

Jim: I think I’d rather buy agriculture. If your good at it you can buy futures. If your not you can buy stocks that trade right here on the New York Stock Exchange, but maria, become a farmer. I’m saying your should become a farmer, go learn to drive a tractor.

Inventories of food are the lowest the’ve been in decades. Not years, but decades. We have a shortage of farmers here too.

Jim also commented on Washington and the Federal Reserve’s actions during the financial crisis.

Jim: Like everyone else I’m pessimistic on the dollar. Everyone is pessimistic so maybe there will be a rally. But, gigantic spending and incompetence in Washington…I see nothing that is going to turn the dollar around.

The federal reserve has tripled its balance sheet, full of garbage. Which you and I are going to have to pay for. Why do we want to have the FED, they’re bad for everybody. Mr. Geithner is a very smart person, but he’s been wrong about everything for the last 15 years.

Why are we listening to him, why are we listening to any of those guys down there? They are making our situation worse. They said it in writing just yesterday.

“The solution to our problem is to spend more money, to spend our way out of this.”

Isn’t that what got us into this problem, too much debt, too much spending, and now we’re going to fix the problem with more debt and more spending. Its making the situation worse, and we’re all going to pay the price for this in one or two or three years.

Next time we have problems in the economy, which will be not too long. We don’t have any bullets left, we’ve shot all our ammo, and we don’t have anything left. What are they going to do, quadruple the debt again. Print more money?

We don’t have even have any more trees left.