If you are invested in the lofty stock markets of the United States or Japan, legendary investor Jim Rogers has a message for you ...
Euphoric gains always lead to hangover pains - it's just a matter of when.
"This is artificial, as I've repeatedly said," Rogers told Money Morning during an exclusive interview Sunday night. "This is the first time in recorded history where nearly all the central banks in all countries are pumping out lots of money, debasing their currencies, printing money. I've never seen this in history, and now we've got everybody - or nearly everybody - doing it."
In a wide-ranging interview from his home in Singapore, Rogers warned that this "race to insanity" will likely do maximum damage to the global economy.
Here's why Rogers is highly "skeptical" that anything good will come of it...
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Jim Rogers Exclusive: It's a "Race to Insanity"
Jim Rogers: Hold on to Your Gold and Silver Coins
Legendary investor Jim Rogers sees now as a great time to load up on gold and silver coins - and he's not alone.
A record 7.5 million ounces of silver coins were sold in January as investors hunted for a safe haven investment.
"You can't get [silver coins]. They sell out," Rogers, who owns a rare 2013 silver coin, said on Yahoo! Finance's "The Daily Ticker." "Several mints have run out of coins because everybody's worried about the future of the world."
And 150,000 ounces of American Eagle gold coins were sold in January, the highest monthly total since July 2010.
"Gold has been up 12 years in a row which is extremely unusual for anything," added Rogers. "A lot of speculators are rushing into gold right now. I'm not rushing into gold, but I'm certainly not selling it. If it goes down, I'm buying more."
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Recession 2013 Is On the Way; Here's What Jim Rogers is Doing
If legendary investor Jim Rogers is right, not only is Recession 2013 unavoidable, it's going to be a doozy.
In recent interviews, Rogers has been predicting a 2013 recession, bowled over by a potential blowout in Europe and unsustainable spending by the U.S. government.
Jim Rogers Says New Greece Deal Can't Save Europe
Investing legend Jim Rogers said that although the latest Eurozone deal for Greece is more generous than he expected, it's not enough to solve Europe's problems.
"Politicians have delayed addressing the problem yet again," Rogers told Investment Week. "It will come back in a few weeks or a few months and the world will still have the same problem, but this time only worse because the European Central Bank and other countries will be deeper in debt."
The deal European leaders hammered out on Thursday includes boosting the region's rescue fund to $1.4 trillion (1 trillion euros) and asking bondholders to take a voluntary 50% haircut on Greek debt.
"Politicians have delayed addressing the problem yet again," Rogers told Investment Week. "It will come back in a few weeks or a few months and the world will still have the same problem, but this time only worse because the European Central Bank and other countries will be deeper in debt."
The deal European leaders hammered out on Thursday includes boosting the region's rescue fund to $1.4 trillion (1 trillion euros) and asking bondholders to take a voluntary 50% haircut on Greek debt.