The World Is Overdue For A Currency Crisis: Jim Rogers

saliva · Dec 11, 2009

Quote from hoodooman:

I fondly recall many years ago when he told an interviewer on CNBC that Kudlow was a liar.

Suffice it to say that he disappeared from CNBC for quite a while.

I'm even more surprised that he didn't call Kudlow an outright moron, which he is. Oh wait, I forgot that status is already reserved for Cramer.

hoodooman · Dec 11, 2009

Agree.He almost did Kudlow justice.

DrPepper · Dec 11, 2009

Quote from hoodooman:

I'm surprised that he was bullish on gold. Recently, I emailed him and asked where an individual with gold could sell it at the spot price. He had no idea. He hemmed and hawed and said I would probably have to get it assayed.

Try ebay:

http://shop.ebay.com/i.html?_nkw=1+...d=p3286.m270.l1311&_odkw=gold+eagle&_osacat=0

pspr · Dec 11, 2009

Quote from saliva:

I'm even more surprised that he didn't call Kudlow an outright moron, which he is. Oh wait, I forgot that status is already reserved for Cramer.

Aren't they the same person but wearing a clown costume when he plays Cramer?

crgarcia · Dec 11, 2009

Quote from observer67:

Jim Rogers -- who has just gone long the dollar -- does a good interview with TechTicker explaining his surprising new trade. Among other things, he expects a major currency crisis in the next year or two, and he's still uber-bullish on gold.

"It wouldn't surprise me at all to see a nice rally in the dollar,â says Jim Rogers. The legendary investor tells Tech Ticker he has started to accumulate more greenbacks as of late. Rogers is still negative on the long-term fundamentals for the dollar, noting "the U.S. is the largest debtor nation in the history of the world."

But "when everybody is on one side of the boat, invariably you should run over to the other side, for awhile," he tells Aaron [Task] in the accompanying video.

http://www.businessinsider.com/jim-rogers-the-world-is-overdue-for-a-currency-crisis-2009-12

The economy is so weak that anything may trigger another panic, and a flight to quality, and this means US T-Bonds (in USD, of course).

DrPepper · Dec 11, 2009

Quote from crgarcia:

The economy is so weak that anything may trigger another panic, and a flight to quality, and this means US T-Bonds (in USD, of course).

You are correct, however, it is amazing to me that the US dollar can go up in value despite the vast quantity of paper money the Fed has printed this year.

http://www.chartingstocks.net/2009/03/chart-of-the-us-money-supply-1917-2009/

Unfortunately, the rise in value of the US dollar only encourages the Fed to print even more dollars. As a result, when the dollar does crash again, it will be even that more dramatic.

I consider this a Christmas present that will allow people to buy gold and silver at even lower prices.

PlusMinus · Dec 11, 2009

Quote from DrPepper:

Try ebay:

http://shop.ebay.com/i.html?_nkw=1+...d=p3286.m270.l1311&_odkw=gold+eagle&_osacat=0

Or APMEX, or about half a dozen other places.

PlusMinus · Dec 11, 2009

Quote from DrPepper:

You are correct, however, it is amazing to me that the US dollar can go up in value despite the vast quantity of paper money the Fed has printed this year.

http://www.chartingstocks.net/2009/03/chart-of-the-us-money-supply-1917-2009/

Unfortunately, the rise in value of the US dollar only encourages the Fed to print even more dollars. As a result, when the dollar does crash again, it will be even that more dramatic.

I consider this a Christmas present that will allow people to buy gold and silver at even lower prices.

You are so damned right, couldn't have expressed this better. Gold bears who are grinning this week are not able to see the forest from the trees. Oh well, our gain.

Debaser82 · Dec 12, 2009

I emailed Rogers a few times and got a response back within 24 hours each time.

To me that tells a lot.

crgarcia · Dec 12, 2009

Quote from DrPepper:

You are correct, however, it is amazing to me that the US dollar can go up in value despite the vast quantity of paper money the Fed has printed this year.

http://www.chartingstocks.net/2009/03/chart-of-the-us-money-supply-1917-2009/

Unfortunately, the rise in value of the US dollar only encourages the Fed to print even more dollars. As a result, when the dollar does crash again, it will be even that more dramatic.

I consider this a Christmas present that will allow people to buy gold and silver at even lower prices.

Yes, but remember this freshly printed money just got into the bank balance sheets, without getting into circulation in the real economy.

I doubt that this printed money will get into the economy anytime soon:

Banks aren't lending, and they are right.
If I owned or managed a bank I would be very cautious lending into this weak economy, with households so heavily indebted.
I would only buy existing debt cheap (only good or fair debt).