The bond market is a bubble ready to burst because central banks have flooded the world with cash and harmed the world economy, says investing guru Jim Rogers.
"I'm watching the bond market, I have no longs and no shorts," Rogers told CNBC. "It is a bubble which is developing; it's one of the few bubbles in the world which is developing."
"I think it's going to be a disaster and I plan to be selling them short sometime in the foreseeable future," he said.
"The people who receive the money think things are better, and they are better for them, but the rest of us have to pay the price," he warned, adding that his investment strategy is long commodities and short stocks.
Prices are creeping up all over the world but some governments "lie" about inflation, Rogers warns.
"We have inflation now. Everybody who shops knows there is inflation … prices are going up," he observes.
According to Rogers, the U.S. and U.K. governments both "lie" about inflation, while Australia, China and Norway – countries that have tightened monetary policy – are attempting to solve the problem.
Agriculture, Rogers notes, “has been a disaster for 30 years.”
Now, there’s a shortage of farmers. "You should all become farmers," Rogers says.
The U.S. Farm Bureau reports that the Cuban trade bill recently approved by Congress will help increase agriculture exports to that island nation and help make U.S. agricultural goods the products of choice in the Cuban marketplace.
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