Rogers: Dump Dollars, U.S. Bonds

[AirborneSapper7]

Rogers: Dump Dollars, U.S. Bonds

Tuesday, November 11, 2008 12:03 PM

By: Julie Crawshaw

"The fact that the dollar is gaining rapidly is only temporary," investor Jim Rogers recently told a group of private bank clients.

"Within a year you'll have to get rid of the dollar," the co-founder of the Quantum Fund says.

All hedge funds were short on the dollar, Rogers says, but because there has been a rapid increase in the dollar's value against other currencies, fund managers want to buy them now.

"This is temporary, Rogers says. "Fundamentally it is a drama."

In addition, U.S. government bonds are extremely overvalued, indeed, they are "the world's last bubble," he says.

Rogers has been buying Dutch bonds instead.

Rogers remains fiercely opposed to bailing out the banks. He advocated allowing seriously troubled banks to go bankrupt instead.

"Bailouts have never worked. In 1929 we had a recession but after the government interfered, it became a depression," he says.

"Right now, badly-managed banks are saved with money from good banks and from you and me," Rogers notes. "After that, the failing but nationalized banks are going to compete with the well-managed banks and gain their market share."

Financial author Satyajit Das agrees that the United States faces a major challenge in re-establishing its financial credentials.

"Without drastic and radical action, America's ability to continue to borrow from foreign investors to meet its financing requirement is likely to become increasingly difficult," Das wrote in the RGE Monitor.

http://moneynews.newsmax.com/streettalk ... 50023.html

[Rockfish]

Here comes the Amero..either we fight now or live under the rule of communism

[butterbean]

"Within a year you'll have to get rid of the dollar," the co-founder of the Quantum Fund says.

Why? To replace it with the Amero as planned in the "conspiracy theories"? No one believed the stories about the NAU, Amero or NWO. What does everyone think now? IMO Bush has sealed the plan. It is going to happen no matter what we do. Bailouts were part of the plan to wreck havoc on the American economy so that Mexico, Canada and the U.S. could become the great North American Union.

[4thHorseman]

Quote:
"Within a year you'll have to get rid of the dollar," the co-founder of the Quantum Fund says.


Why? To replace it with the Amero as planned in the "conspiracy theories"? No one believed the stories about the NAU, Amero or NWO. What does everyone think now? IMO Bush has sealed the plan. It is going to happen no matter what we do. Bailouts were part of the plan to wreck havoc on the American economy so that Mexico, Canada and the U.S. could become the great North American Union.

I think Rogers meant investors that 'own' dollars will need to sell them. Remember that some people speculate on currencies, and treat like commodities[/quote]