“Jim, economic collapse with the euro: will that lead to a recession?” asks Glenn Beck.

“That will lead to the end of the world as we know it,” answers Jim Rogers, founder of Rogers International Commodities Index. “That will certainly lead to the end of the world as Washington D.C. knows it. There’s no question about that.”

But who is Jim Rogers and what does he know about the global financial situation?

For those unfamiliar with Beck’s guest, Jim Rogers is a famous American investor who, along with George Soros, founded the Quantum Fund, one of the world’s first international funds. Also, as mentioned above, he is the creator of the Rogers International Commodities Index.

He is a well-known proponent of free market capitalism, a successful author, a regular lecturer of finance at the Columbia University Graduate School of Business, and he has been a regular guest on Fox News’ “Cavuto on Business.”

Needless to say, he knows what he’s talking about when it comes to finances and he has repeatedly proven his keen market sense.

“We do live in very perilous times and I hope you’re very careful and I hope you’re prepared,” Rogers said in regards to the growing financial meltdown.

The conversation then turned to the topic of gold and the importance the precious metal may play in the near future.

“Everybody knows what that [gold] is. You’ll be able to sell it, barter it you have to, if it gets this bad,” said Rogers.

But what could create conditions bad enough to force someone to have to barter gold?

A total financial collapse.

Beck asked Rogers to explain difference between a recession, a depression, and the much-feared total collapse.

“Well, a recession is when your neighbor loses his job and a depression is when you lose your job. And collapse is when nobody has a job and there are people foraging in the streets; happened in Argentina 10 years ago, happened in Germany in the early 20s—“

“But it’ll never happen here. This is the United States of America!” Beck interjected.

At that point, for both the host and the guest, trying to keep a straight face became an exercise in futility.

Watch Beck and Rogers discuss everything from the potential food shortages that may occur in the event of a total economic collapse, to the present-day agricultural disaster, and much more via GBTV: