The sanctions regime has given a big boost to the Russian
economy, especially in agriculture. It is a very, very strong growth industry
right now. It pushed the Russians together with the Asians, investor and
financial commentator Jim Rogers told RT.
Investors
worth around $11 trillion have assembled at the St. Petersburg International Economic Forum to discuss
the prospects for the world economy, as well as hoping to make some lucrative
deals on the side.
RT: Many financial analysts say the resilience of the Russian economy
is making it more attractive to investors. Can Russia expect an increase in
foreign investment after it nosedived in recent years?
Jim
Rogers: Absolutely. Russia was hated three years ago. Nobody was
putting any money here. Well, I was, but most people weren’t. It’s got to get
better and it is getting better, because Russia is getting better.
Russia can ‘live forever’ even with oil prices below $40 – economy
minister #SPIEF2017https://t.co/dJmzOGOC0c
— RT (@RT_com) June 2, 2017
RT: To what extent have Western sanctions harmed Russia’s economy from
your point of view, and what will it take for them to be lifted?
JR: In
many ways the sanctions against Russia have helped Russia. It has made Russia
an agricultural boom. It is a very, very strong growth industry right now. It
pushed the Russians together with the Asians. When you come to Moscow or St.
Petersburg airport now the Chinese are everywhere; Asians are everywhere. This
is actually helping Russia in some ways, and it certainly is not helping
America. We’re not getting anything out of it.
RT: You’ve said at the forum you see countries moving eastwards to
Asia. Is that accurate, do you think?
JR: Absolutely.
I live in Asia now. One of the reasons I live in Asia is because of what’s
happening there. There is no question that Asia is the place to be. That is
where the money is; that is where the population is; that is where the energy
is. Teach your children Chinese.
RT: What is it about the International Economic Forum, the annual
event in St. Petersburg? Roughly $11 trillion in capital here with all the big
people in attendance. Any specific outcomes or expectations this year?
JR: Whenever
I come here, I always keep my eyes and the ears open to see if I find some
opportunities. So far I have not. I continue to invest in Russian. I bought
more Russian shares this week, and bought Russia bonds last week. So far for me
I haven’t found anything, but I am sure that things are here. And as far as $11
trillion – I only have a couple of hundred dollars – not a couple of hundred
trillions [laughs.]
RT: These sorts of events are often branded as “all talk but little
action.” Is it so?
JR: I am
sure that some people are going to find opportunities and meet people and make
deals here. So far I haven’t. But I am mainly an investor in markets, stocks
and bonds, and commodites. So it is unlikely I will find much here. But I see
people meeting all day and all night. You cannot believe how late people are
out talking about things. Something is happening here.
#SPIEF2017: Russia-led economic bloc can boost
trade with India by 800% https://t.co/u2IlJtAbtR
— RT (@RT_com) June 1, 2017
RT: I want to bring us back to the issue of Russia and China buying
gold. In December 2016 an official of Deutsche Bank admitted there was a gold
fix. If there is indeed a manipulation of gold going on around the world. When
do you think it might come to a stop and what effect could that have?
JR: I
have some gold. I’ve got some gold here in my pocket. I even bought some of the
Soviet gold yesterday. I am not buying any more in any significant way right
now, but I do read that the Russians and the Chinese are buying more gold. Gold
is going to go up a lot before this is over. We’re going to have chaos in the
markets in the next few years and gold will skyrocket. I am not buying it now –
I expect it go down first. If it goes down, I hope I am smart enough to buy a
lot more gold, because before it is over the Chinese and the Russians are going
to be in a very good position with all their gold.
The
statements, views and opinions expressed in this column
are solely those of the author and do not necessarily represent those of RT.
Reprinted
from RT News.