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Jim Rogers: Currency Crisis Coming Soon
The worst of the economic crisis is not over and a currency crisis can happen this year or the next year, because the problem of too much debt in the system has not been solved, legendary investor Jim Rogers told CNBC Monday.
The current recovery is just a consequence of the fact that consumption fell so dramatically in 2008 and people have to buy things they need in 2009, Rogers told "Worldwide Exchange."
"How can the solution for debt and consumption be more debt and more consumption? How can that be the solution to our problems?," he said.
"I would expect there to…
15Sep2009 | The Real Deal | 2 comments | ContinuedJim Rogers Selling Dollars Short U.S. Treasuries
The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of Rogers Holdings.
“The government is printing lots of money and borrowing even more; that’s not the basis for a sound currency,” he said in a telephone interview today from Singapore. “The idea that anybody would lend money to the U.S. government for 30 years at 3 or 4 or 5 or 6 percent interest is mind-boggling to me.”
My comment: The last sentence is the question I have asked for many years.…
7Jul2009 | The Real Deal | 0 comments | ContinuedJim Rogers says Dow could go to 1,000,000
But not the way you think:
While he’s negative on US assets — he says he’s gotten rid of all of his dollars, for the most part — he advises against shorting this market.
It’s a bear market rally. I was going to say I don’t think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then S&P could go to 50,000, Dow Jones can go to 1,000,000. Which is one reason why I…
4Jun2009 | The Real Deal | 2 comments | ContinuedJim Rogers on US Currency Crisis
The dollar’s rally is set to end in a “currency crisis,” investor Jim Rogers said, adding that he may bet on a slide in equities after nine weeks of gains.
The advance in the U.S. currency has been driven by investors covering their short sales, Rogers, 66, said in an interview with Bloomberg Television in Singapore. He may consider adding to his holdings of the yen and prefers the euro to the dollar or the pound, the investor added.
“We’re going to have a currency crisis, probably this fall or the fall of 2010,” Rogers said. “It’s been building up…
15May2009 | The Real Deal | 1 comment | ContinuedHow Do You Say “Higher Taxes” In French?
Yesterday in the UK publication, Metro, Jim Rogers advised investors to move to China if they spoke Chinese. Today, I have my own piece of cultural advice: Tell your children to take French and German in school. And while you’re at it, grab your own Rosetta Stone guide to foreign languages… You might need it sooner than you think.
We now have a government that wants to dictate how we live, work and earn money. Tax cheats can aspire to running the IRS, with the recently confirmed Timothy Geitner as their model. In addition, it seems that a large enough majority…
28Jan2009 | Smart Profits Report | 0 comments | ContinuedJim Rogers Teams Up With Macquarie To Create New Index
Investing icon Jim Rogers and Australia’s Macquarie Funds Group have teamed up to create an agricultural-commodities index that will help investors profit from shifting patterns of food consumption in the burgeoning market of Mainland China.
The Macquarie and Rogers China Agriculture Index is an investable index that will track price changes of the market “basket” of the agricultural commodities most commonly consumed in China. Macquarie Funds is the asset management arm of Australia’s Macquarie Group.
Macquarie actually created the product in November, and continued to operate it in December, when the China agricultural index posted a return of better than 11% – outperforming most…
28Jan2009 | Money Morning | 0 comments | ContinuedJim Rogers Says Buy These
“Historically, the way you make money in times like these is that you find things where the fundamentals are unimpaired.” – Jim Rogers
That sounds easy enough, right? Just find unimpaired companies, buy them, and wait. In essence, there couldn’t be better advice right now.
Of course, the question then is, “When should I buy unimpaired assets and businesses?”
For instance, Google (NASDAQ:GOOG) is going to be a mainstay on the Internet for years to come. Its market share is growing and its competition is fading.
And it’s making all the right moves during a downturn. It’s cutting expenses. It’s socking away cash (as much…
20Jan2009 | Q1 Publishing | 0 comments | ContinuedWill 2009 Be Even Scarier?
Great Depression II…15% drop in home prices…Food riots…9% unemployment…Another 50% drop in the Dow…
My how the world has changed?
A year ago, the bulls were off and running. Many were “buying on the dip.” Commodity prices were soaring. Farmers were making a killing. Emerging markets consumers couldn’t get enough of anything.
It seemed like the boom would never end. Any talk of a full scale global depression or 50% decline in the Dow would have been laughed off. This year, it’s a totally different story. The bears are out in force and the leading opinion-makers in the investment community couldn’t be…
13Dec2008 | Q1 Publishing | 0 comments | ContinuedInvestment Guru Jim Rogers Says Commodities are the ‘Place to Be’ Despite Their Decline
Commodity prices have plunged from the record highs they hit earlier this year, but in a recent interview with Bloomberg, investing guru Jim Rogers said he is still bullish on commodities, which he expects to take off as soon as the clouds of the global recession lift.
The Reuters/Jefferies CRB Index of 19 commodities has fallen more than 54% from its July peak and is now at its lowest level in six years. Oil spearheaded the decline, with light, sweet crude for January delivery dropping $2.36, or 5.4%, to settle at $41.31 a barrel on the New York Mercantile Exchange…
8Dec2008 | Money Morning | 0 comments | ContinuedJim Rogers: Commodities only unimpaired asset class
Bloomberg
Nigel Stevenson and Brett Foley
The fundamentals of commodities are “unimpaired” and prices will rebound when a lack of new supply leads to shortages, said Jim Rogers, chairman of Rogers Holdings.
“Commodities will be the place to be if and when we come out of” the downturn, Rogers said yesterday in an interview from Miami. “The only thing where fundamentals are unimpaired are commodities. Farmers cannot get loans for fertilizer now. Nobody can get a loan to open a zinc mine. So we are going to have some serious, serious supply problems before too much longer.”
The Reuters/Jefferies CRB Index of 19…
8Dec2008 | The Real Deal | 0 comments | Continued
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