"I have sold all my U.S. stocks, but I will never sell my gold, silver, or copper," declared 84-year-old investing legend Jim Rogers at the start of 2026, a year of significant global financial uncertainty. He offered his survival guide amidst these turbulent times.
The legendary investor, who first made his name on Wall Street at age 26 and gained fame for accurately buying the Austrian stock market bottom in the 1980s, has a history of prescient forecasts, including the 1987 global stock market crash and the 2008 U.S. subprime mortgage crisis.
In December 2025, Rogers issued another stark warning about the global economy. He stated that the United States, as the largest debtor nation in world history, is being led toward an abyss by its massive $38 trillion national debt. He predicted the next crisis would be the worst he has witnessed in his lifetime, attributing its root cause to the world's suffocating debt levels.
In an exclusive interview on February 6, 2026, Rogers elaborated on his views concerning the looming crisis, his specific hedging strategies, and the fundamental logic behind his bullish stance on metals.
Confronting the potential crisis, Rogers revealed he has liquidated all his holdings in U.S. equities. Instead, he views physical commodities like gold, silver, and copper as "the perfect insurance policy" and plans to hold them as an inheritance for his children.
**On Commodities: Gold, Silver, and Copper as a "Sanctuary" – For Holding, Not Trading**
When asked about the sharp fluctuations in international gold prices since the start of 2026, Rogers advised, "I recommend that everyone should hold some gold and silver in their hands. Because in everyone's life, gold and silver will play a crucial role. If the situation deteriorates in the future, they will be your most solid 'sanctuary.' And if all goes well, provided you have good judgment, you are also likely to make significant money from them. In short, whether for hedging or appreciation, allocating to gold and silver is essential."
Regarding silver's 147% surge in 2025 and whether booming industrial demand has decoupled its price from gold, Rogers clarified his approach. "I want to reiterate my original intention. I own silver, but I am not trying to profit short-term by 'trading' it. I am happy to see it rise, but I would absolutely never sell it because of that. I hope to own this silver forever and leave it to my children. Silver is not just an investment; it is a perfect insurance policy. We all hope we never need to use our insurance; my attitude toward silver is the same – I hope I never need to sell it for an emergency, but I must own it. If it truly comes to a last resort, I would sell, but I sincerely hope that moment never arrives. My approach to gold is identical."
Asked if silver now constitutes a larger position than gold in his portfolio, Rogers responded, "Frankly, I don't calculate these specific numbers daily. I own a substantial amount of silver, and I own a substantial amount of gold. For years, my strategy has been very simple: whenever their prices fall, I try to buy more. I am not concerned about precise ratios; I only know that in an era of currency devaluation and high debt, physical metals are reassuring."
On the topic of copper, whose price recently hit record highs due to its core role in electric vehicles and infrastructure, Rogers was asked how long he believes its cycle can last. "In today's world, copper is used almost everywhere. From electric vehicles to various electronic devices, its importance will only increase. But at the same time, there are not many new copper mines being brought into production globally. Demand is surging, while supply is constrained. The logic is straightforward. So my advice to investors is: do not sell your copper, do not sell your silver, and do not sell your gold."
**On the Crisis: The Trigger Often Starts with Something Insignificant**
Comparing the current situation to the 1929 Great Depression or the 2008 financial crisis, Rogers identified the most significant red flag: "The most prominent signal is that the United States is already the largest debtor nation in world history, and this debt is worsening every day. The historical pattern is very clear: when a country gets into this kind of debt situation, it eventually faces a severe crisis. The United States is no exception. I am an American citizen, but I clearly foresee that my children will face extremely serious problems."
He drew a historical parallel: "A hundred years ago, Britain was the world's wealthiest and most powerful nation, but within just 50 years, it went 'bankrupt.' I fear the United States is heading down the same path. Massive deficits and debt are leading America toward an abyss, and the danger is getting closer to us."
Regarding the sustainability of the U.S. dollar's status as the world's dominant reserve currency amidst a $38 trillion national debt, Rogers noted, "In 1926, the pound sterling was the most important currency because Britain was the global hegemon. Fifty years later, it fell from grace. The U.S. dollar is now the number one international reserve currency, but as I said, with the U.S. being the largest debtor in history, the dollar's troubles are already evident. People are beginning to recognize the risks of the dollar and are looking for alternatives. This process has already started. But I don't yet see a clear single winner."
On his prediction that the next crisis will be the most severe of his lifetime, Rogers was asked what the trigger might be. "I don't know the exact timing. But I know the reason: debt. Because debt levels around the world have reached a suffocating degree, not just in the U.S., but everywhere. As for the trigger point, historical experience tells us it usually starts with some insignificant minor event. A small company fails in a remote country, or a small industry encounters problems. At first, no one pays attention, but then it spreads like a snowball. By the time it hits the news headlines, everyone exclaims, 'Oh my God!' We are already seeing some signs in smaller countries; these problems will eventually spread."
Asked about the common trait he observes when a crisis is approaching, given his successful past predictions, Rogers pointed to "overconfidence." He explained, "When everyone becomes very optimistic, when everyone tells you 'this time is different,' you must become extremely worried. People become complacent and start leveraging heavily. When you hear 'don't worry, the rules have changed now,' that is the most dangerous signal."
His most important advice for young investors is one word: "Skepticism." He urged, "Be skeptical of everything you read and hear. When you see everyone feeling content, when everyone looks out the window and says 'the sky is blue,' you must go check for yourself. Although I also want to be happy every day, my experience tells me that when everyone is immersed in happiness, at the very least you should start asking questions and considering alternative plans."
**On China: Unique Resilience, Bullish on Aviation Stocks**
Rogers, a long-term bull on China's economy since 1984, was asked what core belief supports his optimistic "China future theory" in the current complex international environment. "This is a judgment based on a broad historical perspective," he stated. "China is the only country in world history that has reached the top several times. Egypt was once great, but only once; Britain also only once. When China experiences a downturn for a period, it always manages to rise again. Although I cannot precisely explain the source of this resilience, it is unique."
On where China's next breakthrough might lie, and whether external technological restrictions are an obstacle or a catalyst, Rogers highlighted China's significant talent pool. "China has a vast number of well-educated, intelligent people, especially engineers. This demographic dividend is huge. When a country is overall on an upward trajectory, almost all industries will improve. I am particularly optimistic about China's tourism industry. In the past, it wasn't easy for Chinese people to travel abroad, but now they want to see the world, and the world wants to see China. Furthermore, I am also bullish on agriculture, as people desire better and healthier food as they become wealthier." Regarding technology, he noted that "history proves external pressure often stimulates stronger innovation."
When asked if he currently has specific investments in China, Rogers confirmed, "I hold stocks in many Chinese companies, such as aviation stocks. As I emphasized, tourism and its related industries have broad prospects in China."
On whether he has been following AI applications in China, Rogers commented, "AI is exploding globally, and China is part of that. But I haven't personally tested specific AI applications yet. I have compared AI to the discovery of electricity. During the electrification process, many people made money. AI now will also change everything we know."
Finally, explaining his decision to reside in Singapore, Rogers said, "I wanted my children to speak Mandarin. When we were in New York, we tried, but it wasn't easy. I realized that for them to truly master Chinese, they needed to live in an environment where they 'had to' speak it. I love China, but I don't speak Chinese myself. Singapore is a perfect balance, as both English and Chinese are spoken here." He added that his eldest daughter has already graduated from Columbia University and works in New York, while his younger daughter is about to enter university.