Jim Rogers: 'Nobody gets out of this situation until there's a crisis'

`` Unfortunately from my point of view, and I own gold and haven't sold any, we are in a long overdue and much needed correction. The anomaly was that gold had been up 12 years in a row. That's not normal, typical action. It's abnormal, which worries me and should worry all the gold bulls. It has now corrected for some 18 to 20 months now. I find that encouraging. I mean, I don't know, because I'm not a very good market timer, but I do know that most corrections go on long enough to scare a lot of people and scare them out of their positions, and that's what I would expect to happen.'' -- Bit disappointing that Rogers doesn't seem to understand gold's monetary role is, at least, at a high level (i.e. the reason central banks own it).