Jim Rogers discusses the world economy, commodities, farmland and China on Kudlow and Company – March 4, 2009.

“I cannot say that the fundamentals for General Motors are getting better. I cannot say that the fundamentals for Citibank are getting better. but they are getting better for commodities.”

If you aren’t familiar with Jim Rogers, then let me clue you in on one of his investment strategies: Buy Commodities! Agriculture, Energy and Mining hard asset producers, as well as pure commodity plays on oil, wheat, corn, sugar, gold, silver, copper, iron and pretty much everything else in this sector.

I am director of a firm which is buying farmland in Canada and in Brazil at the moment. Both of those are great agricultural countries where you don’t have to worry about your capital being expropriated, or so we hope.

If you become a farmer, you’ll probably have a good business for the next 20 to 30 years, as Mr. Rogers recently said in an interview. This is the first time I’ve heard him come out and specifically say in which countries he is acquiring farmland.

There is an artificial rally in the dollar because everybody has been short the dollar, now they’re being forced to cover. There’s being forced to cover. My plan is, sometime this year, or maybe the next year,I don’t when, to get out of the US dollar because it is a terribly flawed currency.

Jim Rogers doesn’t like the dollar long-term, but it seems there is still some near-term potential for the dollar to increase as many investors around the globe still believe it to be the safehaven currency.

Kudlow mentions to Rogers that China has a zero percent capital gains tax, and they’re communists! Jim Rogers’ respone:

Mr. Obama is going to increase taxes on capital….And they’re going to increase taxes on energy.

The only market I’ve bought in the last few months has been China.

Watch Jim Rogers on CNBC March 4, 2009