Jim Rogers is a guest today on the Everything Financial Radio program.

Many countries are past their capacity for debt. Germany could take on some more, but in general the world is over its head.

The end of all this could very well occur between 2012 to 2015.

The best thing to do right now is to recognize reality. Let people suffer. They are bankrupt. The longer they delay, the tougher the market will be. At that point the whole system may collapse.

There will definitely be problems in the United States somewhere in 2012 or 2013.

No country is going to have decreasing debt in the near future. The debt will continue to go higher. The markets will eventually force us to act.

When the markets are crashing, everyone is panicking, and the whole system could collapse.

2012 is an election year, so the governments and central banks will do everything they can to get the politicians reelected. However by 2013 the game will be up.

A few people will benefit from all this, but on the whole we will be worse off.

Commodities will go up whether the economy does well or badly, so that can be a good place to be.

The difference between the 1930′s and now is that the central banks are all ready to print money. We will have an inflationary collapse, which will lead to deflation around the world.

It’s hard to find a sound paper money anymore. Singapore is sound, but if they remain that way, they won’t be able to compete on the world market. Paper money is being destroyed all over the world.

It is going to be a very interesting world in 10 years.

If you have your money in a brokerage account or a 401K, then you need to be careful. Unless you know a lot about something, don’t invest at all.

Learn about real assets, like silver and rice.

Jim Rogers most recent book is A Gift to My Children. It is all of the wisdom that Rogers has collected over the years from his own failures and triumphs.