Thread: Rogers:U.S. Dollar is Doomed

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Street Talk

Rogers: U.S. Dollar is Doomed

Tuesday, November 25, 2008 9:22 AM

By: Greg Brown


The dollar is doomed, thanks to Washington, says commodities bull Jim Rogers.

U.S. government leaders have got it backwards, and their policies risk the dollar’s long-term role in the world economy, Rogers warns.

“They think that if you drive down the value of your money, it makes you more competitive, now that has never worked in history in the long term,'' Rogers told Bloomberg TV.

The dollar has rallied in recent months, but that trend will not hold up, he says.

The buck will eventually lose its status as the world’s reserve currency, then go downhill fast as fewer people see it as the default safe haven for wealth.

“It will be devalued and it will go down a lot. These guys in Washington, they want to debase the currency,'' Rogers says.

The dollar rally seen so far will last until next year, then collapse. Roger says he’s buying yen recently.

Both Templeton Asset Fund chairman Mark Mobius and Swiss Fund head Marc Faber see demand for U.S. dollars as untenably high.

The rush to buy Treasurys has increased demand for greenbacks. Once that cools, the need for dollars will decline, warns Mobius.

As Treasury rates drop to 1 percent, Mobius expects investors will sell their dollars, weakening the currency significantly.

Faber considers asset markets "terribly oversold" because investors are going overboard into the dollar and Treasurys.

"What you could see in the next three months is a very strong rebound in asset markets, in equities, followed by a selloff in bonds and eventually a selloff in the dollar," Faber told CNBC.

http://moneynews.newsmax.com/streettalk ... 54992.html

Any day npw we are going to be told that a new currency (the AMERO) is the ONLY way to save ourselves from total fiancial collapse.

BTW...I heard a finacial guy on George Noory say that the AMERO would be offered up as our "only" solution in about 18 months. I think he was off by at least a year.

We'll probably be told that the Amero and creating the NAU will be the "only way to solve the problem," and to prevent the, "total collapse of our economic system." Jorge Bush served his masters well, didn't he? He's really screwed us up bigtime.

What's Bush's final surprise for us going to be, nuclear war with China and Russia?

Originally Posted by patbrunz

What's Bush's final surprise for us going to be, nuclear war with China and Russia?

No the elites don't want that. They too would not survive that, nor the rest of the world.

Next year is going to be "interesting" to say the least!