Pound Could Collapse Within Weeks, Predicts Billionaire Financier Jim Rogers

[Humpy]

The obvious lesson is that some countries must be doing something right while the " stick-in-the-mud " countries are "has- beens" and whats tragic is that they don't seem able to change.

I mean who gives a stuff about medicare etc. when your life blood industries are on the ropes.

If politicians wages were tied to the country's economic performance they WOULD care and how !!

 

[Lojanica]

Quote from Lethn:

lol I'm not even going to bother, you should actually take a look at how your banking system really works instead of pretending I'm crazy just because you don't like the idea.

http://www.huffingtonpost.com/2010/01/10/china-becomes-worlds-bigg_n_417848.html

You people are living with your heads in the sand, stop pretending this is the boom and try getting some facts to back up what you say otherwise don't go claiming they're facts!

Old merry England, eh?

Um let say you actually have money and trade. Where you gonna put your money. Pound or USD. Have a looksie at this chart. Remember the markets discount for the future. So What is this saying about England?

http://finance.yahoo.com/charts?s=GBPUSD=X#chart1:symbol=gbpusd=x;range=2y

 

[Lojanica]

Quote from Lojanica:

Um let's say you actually have money and trade. Where you gonna put your money.

http://finance.yahoo.com/charts?s=GBPUSD=X#chart1:symbol=gbpusd=x;range=2y

Easiest trade in today's market. Here's a gift-----short the pound!!!

For retail investors the symbol is FXB.

Cheers!!! This round of drinks is on England. Hip, hip, hoorah!!!

 

[Wallace]

re Trexticle's post 'Off the Charts' - chart from article attached

 

[Lojanica]

Quote from Wallace:

re Trexticle's post 'Off the Charts' - chart from article attached

off charts.gif

This clearly illustrates why the Pound is overvalued due to that drastic drop in exports from Britian. It also shows why the Yuan/Remnibi is undervalued. These figures are based in USD. You can trade currencies off this chart.

Short the Pound.

 

[Instant Karma]

yikes..100% chance GBPUSD breaks 1.40

 

[ashatet]

Why am I not surprised. Just visit UK and you will find out. I did and I found everyone wanting to be an officer. No one wants to work there. They want to watch cricket, eat at expensive restaurants, Tip very well, live large. For work, they want a job as financiers and money managers. It worked for a long time, but how long can this model really work?

The very countries that became superpowers from the industrial revolution are the ones that are now de industrialized.

Quote from WallStWhizKid:

February 25, 2010 - Press Dispensary - The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.

This is the dire prediction of the legendary George Soros’ former business partner, respected billionaire financier Jim Rogers, together with millionaire investment adviser and best-selling author Dr Marc Faber and the controversial millionaire trader and coach Vince Stanzione, ahead of their keynote appearances at next month’s Global Trading Day seminar in Westminster.

As the UK economy stands on the brink of its much heralded double dip after a dismal January and rumblings about its credit rating, as Swiss Bank UBS speculates the risk of a run on the pound*, and as sterling hit a nine month low against the dollar on Friday, the three experts – who all have reputations for making much of their fortunes from predicting and riding economic downturns – are forecasting that a currency crash and then a full scale global “shakedown” are almost inevitable.

“The last few months have seen a ‘false bounce’, shorn up by massive short-term injections of government underwriting,” says Rogers, “but it can’t last. We’ve been applying temporary sticking plasters, not long-term cures. Later this year we’ll see the start of the real recession, with more Lehman-scale disasters and a fallout which won’t stop until the underlying malaise is genuinely cured.”

And for the UK, it could begin with the Pound.

“Other currencies aren’t strong and the Euro has real problems, with cracks much wider than Greece beginning to show,” Rogers continues, “but it’s the Pound that’s most vulnerable. In real terms, it’s already devalued against virtually every currency barring the Zimbabwean dollar and it’s especially exposed over the weeks running up to the UK election. In a basket of currencies, the Pound is potentially a basket case. And that will put Britain in an extremely bad position for the shakedown.”

Jim Rogers famously clashed with Lord Mandelson, as reported in the Daily Telegraph** last year, after Rogers predicted just how far behind other economies Britain would be in returning to growth. History is proving Rogers right.

“It sounds like a lot of doom and gloom,” continues Rogers, partly in reference to Dr Marc Faber’s widely read monthly investment newsletter, ‘The Gloom Boom & Doom Report’. “But it doesn’t have to be. With foreknowledge, experience, advice and skill, even the steepest downward slide can be turned to advantage. Recession can be just as much a source of wealth as growth.”

Marc Faber, who won his moniker ‘Dr Doom’ after advising investors to pull out of American stocks one week before the 1987 crash, and who was one of only a few vocal investors to predict the present troubles, believes that America is on the brink of bankruptcy as it is wholly unable to service its debt***. But, like Rogers, he sees foreknowledge as an opportunity, not just a threat.

It is with all this in mind that Rogers and Faber are joining British investor, coach and author Vince Stanzione on the platform of the Global Trading Day seminar on March 19, 2010, in central London. All three are flying in especially for the day, to meet with investors who believe there’s investment wealth to be found in the coming market conditions and who want to learn its insider secrets from those who have already proven how effectively it can be done.

As Stanzione says, “If the billionaires are betting on a deep second dip, the rest of the investment community should be doing more than looking on from the sidelines.”

http://www.pressdispensary.co.uk/re...Predicts-Billionaire-Financier-Jim-Rogers.php

 

[Renegen]

Quote from Lojanica:

Easiest trade in today's market. Here's a gift-----short the pound!!!

For retail investors the symbol is FXB.

Cheers!!! This round of drinks is on England. Hip, hip, hoorah!!!

It seems you lack a basic understanding of finance.

For the pound to go lower, there needs to be a GREATER THAN EXPECTED drop in its economy. The markets do discount the future, but for there to be a greater fall, things can only get worse. If the bleak future remains the same, the currency should remain the same.

 

[Lojanica]

Quote from Renegen:

It seems you lack a basic understanding of finance.

For the pound to go lower, there needs to be a GREATER THAN EXPECTED drop in its economy. The markets do discount the future, but for there to be a greater fall, things can only get worse. If the bleak future remains the same, the currency should remain the same.

O.K. Do not short the pound. My lack of understanding perhaps helps me. Trading is simple. I was trying to be nice. You can have the other side of my trade. Are we good on that for the record.

 

[dandxg]

The pound is correlated to the euro. All it will take is a worsening crisis in the EU, or unfavorable terms from Merkel to Greece, Spain is next, to drop the pound. I will say USD could easily go to .82-.83 this week which will drop both of the above in the blink of an eye.