Jim was busy hitting the airwaves with appearances on the Fox Business Channel and Bloomberg.
On Citigroup
“Why are 300 million Americans having to pay for Citibank’s mistake?” Rogers told Bloomberg Television. “The way this system is supposed to work, people fail, and then the competent people take over the assets from the failed people and you start again with a new, stronger base.”
On the greenback
“The U.S. dollar will be “devalued” as policy makers seek to weaken it, undermining the greenback’s role as an international reserve currency”
“They think that if you drive down the value of your money, it makes you more competitive, now that has never worked in history in the long term”
“It will be devalued and it will go down a lot. These guys in Washington, they want to debase the currency”
The Yen
“If I were doing it today, and what I have done today, is buy the yen,” Rogers said. “But, it is also an artificial move that’s going on. It’s a difficult problem to find out what is a sound currency.”
Commodities
“fundamentals have not been impaired and, in fact, are improved”
What to buy?
“In mid-October, I started buying commodities, I started buying China and I started buying Taiwan,” he said. “I bought them all, but I’ve been focusing more on agriculture. I mean sugar is 80 percent below its all-time high. It’s astonishing how low some of these prices are.”
Sources:
http://www.bloomberg.com/apps/news?pid=20601091&sid=aQUi9vdv7s9M&refer=india
http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5uFzsclsDQ&refer=home
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[...] continues to hit the airways with multiple interviews on CNBC, Fox Business Channel , Bloomberg and now MMT. The same questions keep coming up as the world and the media wants to know about the [...]