Jim Rogers Says Federal Reserve Printing Presses Guarantee $2,000 Gold

Super commodity investor Jim Rogers said he maintains his estimate on
gold prices of $2,000 an ounce, citing the misguided commitment by the
Federal Reserve to turn the printing presses on whenever they deem it
necessary.

Gold prices soared Tuesday on just those expectations, with gold futures
rising above $1,341 an ounce for December delivery on the Comex.

Rogers said in an interview with Maria Bartiromo, that “Bernanke’s going
to print more money. Mr. Bernanke doesn’t know what he’s doing ... He’s
been wrong, over and over. He and Mr. Geithner and Mr. Summers…have all
been dead wrong ... everything is worse instead of better ... The idea
that we continue to hold up dead companies and dead banks.”

Rogers gives a time-frame of five to ten years for his gold $2,000
prediction, which he has held to since making it in the early part of
2010.

Even though he remains a gold bull, he likes silver better because it's still 60 percent below its all-time high. Gold is of course breaking records almost every time it moves up lately.

Rogers says gold may level off some in the short term, but in the long term there can be no doubt “it is going much higher.”

Although Rogers is a U.S. dollar bear, he does see some temporary upside potential, only because the market is extremely pessimistic about its performance.

In the long term, for the same reasons gold will go up, Rogers see the dollar continuing to be debased because they refuse to stop quantitative easing, as they have nothing else in their power to do.

The best thing is for them to do absolutely nothing, but they refuse to do the right thing, and so gold, silver and other commodities will rise against the dollar, as well as a number of other currencies in the world, because their central banks are foolishly following the practices of the Federal Reserve.