 The last financial crisis will be a fraction of what is yet to come, says our next guest, famed investor Jim Rogers. He joins us today from Las Vegas. Jim, great to have you back on. I am delighted to be here, Daniela. Nice to see you again. Yes, nice to see you as well, Jim. And I've been catching up on some of your recent interviews. And I know you don't usually like to make predictions, but you seem sure that we could see the worst crash in your lifetime and pretty soon. So why the certainty now, Jim? Well, first of all, Daniela, we've had economic problems in the U.S. or in North America every four to eight years since the beginning of the Republic. So to say that we're going to have a problem is not unusual. It would be bizarre if we didn't have a problem again. Janet Yellen says we will not ever have a problem again. But if you believe Washington, D.C., then you don't accept what I'm saying. But we've had these problems. We're going to have another one. It's been over eight years since our last one. The last one, Daniela, was caused by too much debt. Well, since 2008, the debt has gone through the roof. The Federal Reserve alone in the United States, its balance sheet is up over 600% since that time. That's just in eight or nine years. So the next time we have a problem, which we will, despite Janet Yellen, it's going to be the worst in your lifetime and in my lifetime. Do you know what time frame we're looking at, Jim? No, you should listen to Kidco. They know they have answers to things like this. I'm not smart enough. I would expect it to be to start this year or next. Well, of course, I said it doesn't have to happen every four to eight years, but it always has. One thing I do know is that it won't happen in one night. The way these things were in 2007, for instance, Iceland went bankrupt. Well, most people never heard of Iceland. Then you had Ireland go bankrupt. Then you had Bear Stearns. Then you had Lehman Brothers. Well, by then, over a year later, people knew something was wrong. That's the way that things evolve. Let's talk about the theory of cycles and whether they can be avoided or not. Why do they seem to always happen in certain periods? What's the greater nature behind them, Jim? Many people are smarter than I am who can answer that question, I'm sure. But we've always had cycles, whether it's economic or whether or you name it. We've always been cycles in world history. They will be here again. I don't know why we always have economic cycles. I can give you my theories, but who cares? Who cares? The facts are, we've always had economic cycles and we will continue to. Now, Danielle, if you can figure out a way to stop them, terrific. Do so. Let us all know. Well, I care about your theories, Jim. Well, the reason is people, when things are going right for a while, excesses develop. You have too much capacity. Demand drops down because prices go up for whatever reason. So then you have, after good times, people get fat and sassy and cocky and then things start going wrong. I mean, it's human nature. It's the way people have always worked. So how are you protecting yourself, Jim? Well, first of all, people should not listen to fear anybody else. Maybe they should listen to you, but people should invest only in what they themselves know a lot about. I, at the moment, own a lot of U.S. dollars for a variety of reasons. Agriculture is going to be okay going forward. There are a few ways to protect yourself, but it's going to be a mess. You know we love talking gold here. What role, what gold play in this scenario, Jim? Well, as I've told you before, I'm not buying gold and have not bought gold for a while. I own gold and have owned gold for years, but I'm not buying it. I'm not selling it at the moment. If and when gold goes down, a lot or under a thousand say, I hope I'm smart enough to buy a lot more gold because in the end, gold is going to be gigantic. It's going to go a lot because when people lose confidence in governments and paper money, they've always put their money in gold and silver and they will again. So I hope I'm, but I plan to happen. So I gotta get some water. The U.S. dollar will go higher. I will sell my U.S. dollars. Often when the dollar goes up, gold goes down. It doesn't have to, but if it does, I hope I'm smarter enough to sell my dollars and buy gold because gold is going to be explosive in the next few years. And yeah, easy just to get rich. We just got rich sitting right here in the last three minutes. Any thoughts on the crypto craze? Are you interested in Bitcoin and all those crazy? I wish I had been. I wish I had been smart enough to buy it, but now they're, I don't know, it's counting there between 800 and 2000 cryptocurrencies now. I certainly don't know which one will come out on top. If any of them will come on top, but I don't own any, I just sit here and watch. I do know it looks published when you see the kind of price action we had in Bitcoin and now you're having new ICOs, initial currency offerings, at least one a week now and they're going and they're exploding when they come out. That's bubble action. I don't know if we're in a bubble or at a top or anything, but it sort of sounds published. Jim, I know you're speaking at Freedom Fest, Freedom Fest in Las Vegas. Unfortunately, I can't be there this year and know you will have a packed audience. What's your message? Be careful. Be very careful. This morning, I was on the panel with six people. Everybody was very bullish except me. I was happy to see that. If everybody agrees with me, I know I'm wrong. Jim Rogers, I hope to see you soon. Thanks so much for joining us. Thank you. Bye-bye. And thanks for watching this edition of Kiko's Gold Report with Jim Rogers. We'll be back tomorrow.