Skip to comments.Rogers: Dollar on Shaky Ground
Posted on 06/30/2009 6:08:56 PM PDT by FromLori
Super investor Jim Rogers hasn't changed his pessimistic view of the global economy, but he sees no need to change any of his trading positions at the moment.
He expects to sell U.S. dollars soon and remains enamored with commodities.
"I have no shorts for one of the first times in my life," Rogers told Reuters TV. "On the other hand I don't see much to buy."
The massive fiscal and monetary stimulus around the globe, and the debt burdens it will create, means trouble ahead for most major currencies, he said.
Rogers likes the Canadian dollar, one of the "soundest" currencies, whose fate is closely tied to commodities.
"I've got out of my pounds. I will be getting out of my (U.S.) dollars soon," Rogers said.
Commodities are his real favorite.
"I'd rather be a farmer than a stockbroker for the next couple of years," he said. "No one you went to school with became a farme ... so we have a shortage of farmers."
Rogers also still favors Asia over competing economies.
"If you're in London, you're in the wrong place at the wrong time. ... You gotta move east."
Many agree with Rogers about the state of the economy. Legendary investor Warren Buffett told CNBC: "We have had no bounce" in the economy.
Asked if he still sees the economy in "shambles," Buffett said, "I'm afraid that's true."
© 2009 Newsmax. All rights reserved.
(Excerpt) Read more at moneynews.newsmax.com ...
People I’m acquainted with including me are staying liquid.
Would you consider IRAs and 401Ks liquid or not liquid?
Liquid is good.
I’m betting on inflation.
Took $200 grand out when I downsized houses @ 5% for 30 yrs.
I hope to pay it back with Baraqqi minibucks.