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Jim Rogers was on Bloomberg, talking about his most recent views about the global economy and financial markets. Insider Monkey published the excerpts of the Rogers' interview. He is insanely bullish about commodities. Here is what he said about each commodity, followed by how we can invest in accordance with his views:

Rogers: "Saudi Arabia has been lying about their (oil) reserves for decades. The reason oil is going up is the world is running out of known reserves of oil.”

We can invest in oil directly by buying US Oil Fund (NYSEARCA:USO), Crude Oil Total Return ETN (NYSEARCA:OIL), PowerShares DB Crude Oil Long ETN (NYSEARCA:OLO), United States 12 Month Oil Fund (NYSEARCA:USL), US Gasoline ETF (NYSEARCA:UGA), United States Brent Oil Fund (NYSEARCA:BNO), DB Oil ETF (NYSEARCA:DBO), US Natural Gas ETF (NYSEARCA:UNG), and Heating Oil ETF (NYSEARCA:UHN). Alternatively, we can buy oil rich country ETFs, such as Market Vectors Russia ETF (NYSEARCA:RSX), Market Vectors Gulf States ETF (NYSEARCA:MES), WisdomTree Middle East Dividend (NASDAQ:GULF), and PowerShares MENA Frontier Countries (NASDAQ:PMNA). Prominent hedge fund managers prefer buying energy stocks, such as BP Plc (NYSE:BP), Chesapeake Energy (NYSE:CHK), Plains Exploration (NYSE:PXP), Sandridge Energy (NYSE:SD), and Suncor Energy (NYSE:SU). George Soros likes Petroleo Brasileiro (NYSE:PBR) and InterOil Corp (NYSE:IOC).

Rogers: “Gold will go to $2000 in this decade. It’s pretty simple as far as I’m concerned. Silver will certainly go over $50. The old high on silver was $50. Silver will go to new highs again. All these prices are going to go to absurd levels by the end of the decade, by the end of the bull market.”

Hedge funds usually prefer physical gold, or gold ETFs such as SPDR Gold trust (NYSEARCA:GLD), Proshares Ultra Gold ETF (NYSEARCA:UGL), Gold Miners ETF (NYSEARCA:GDX), Junior Gold Miners ETF (NYSEARCA:GDXJ) and iShares Silver Trust (NYSEARCA:SLV). John Paulson, who made $5 Billion in 2010 from his hedge fund, also prefers Kinross Gold Corp (NYSE:KGC), Anglogold Ashanti (NYSE:AU), Novagold Resources Inc (NYSEMKT:NG), Randgold Resources (NASDAQ:GOLD), and Barrick Gold Corp. (NYSE:ABX).

Rogers: "Huge bull market in agriculture. Agriculture prices are still extremely depressed on a historic basis. You know, the price of sugar has gone up 600% in the last 6 years, 5 years. It is still 50% below its all time high. 50% below its all time high. The scope for price increases in agriculture is staggering.”

We can invest in agriculture through ETNs, such as Cotton ETN (NYSEARCA:BAL), Corn ETF (NYSEARCA:CORN), Livestock Total Return ETN (NYSEARCA:COW), Grains Total Return ETN (NYSEARCA:JJG), Coffee ETN (NYSEARCA:JO), Cocoa ETN (NYSEARCA:NIB), Sugar ETN (NYSEARCA:SGG). So far most hedge funds picked Potash (NYSE:POT) or CF Industries (NYSE:CF) to take advantage of soaring food prices. John Burbank's Passport Capital, David Einhorn's Greenlight, Daniel Loeb’s Third Point, Tom Steyer’s Farallon Capital, Andreas Halvorsen’s Viking Global, Jim Simons’ Renaissance, Richard Perry’s Perry Capital and Mohnish Pabrai bet on Potash. CF Industries is one of the 10 stocks hedge funds own the most of.

Finally, one can invest in most of these commodities by just buying the US Commodity Index ETF (NYSEARCA:USCI).

Disclosure: I am long CHK.

Additional disclosure: I am long physical gold

Source: Jim Rogers Is Insanely Bullish About These Stocks