“Within a year you’ll have to get rid of the dollar,” Jim Rogers told a group of private bank clients.
But..but … what about the recent run-up?
“The fact that the dollar is gaining rapidly is only temporary”
On government bonds…
“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)
On bailouts…
“Bailouts have never worked. In 1929 we had a recession but after the government interfered, it became a depression”
Why….
“Right now, badly-managed banks are saved with money from good banks and from you and me”
“After that, the failing but nationalized banks are going to compete with the well-managed banks and gain their market share.”
Source:http://moneynews.newsmax.com/streettalk/dollar_weakness/2008/11/11/150023.html
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November 27th, 2008 at 10:13 pm
I don’t see anywhere in that source supporting the statement that Jim Rogers said to buy silver.
December 19th, 2009 at 11:58 pm
Thanks for having such an insightful view on this topic. Adding you to my feed reader right now.