"If you cannot spell gold you should not own any gold until you learn something about it. If you can't find Europe on a map you shouldn't think about investing in Europe until you know something about it."
"Everybody should have some of their assets outside of their own country, whatever their own country is as an insurance policy if nothing else."Everybody has life insurance, fire insurance, health insurance, car insurance, and you hope you never use your health insurance policy, you hope you lose money on it. Well that's the same thing about having some of your assets outside your own country. You hope you never need it, but it is terribly good insurance. Because every country in world has had economic upheavals at one time or another."Then everybody should have some real assets. [Held overseas] they are a very good safeguard. Whatever kind of safeguard you've got, whether it's gold, silver, farmland, silos full of rice, everyone should have some kind of assets that will come through an economic upheaval."
"If I had to buy one rather than the other today, I'd buy silver because it certainly has gone down more than gold. Gold is down what, 30-35%. Silver is down 60% from its all-time high. So on a historic priced-basis if nothing else, I'd rather own silver."
"But that doesn't mean silver cannot go down [from here]."If gold goes to $1000 or $950" – and that's only on "if" as Jim Rogers was also keen to repeat – "then silver's gonna go down, too."
"If it goes down more, I hope I'm smart enough to buy."