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Globe "Overdue For a Currency Crisis"; Why Jim Rogers Is Buying Dollars

Submitted by bad__karma on Thu, 12/10/2009 - 13:19
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Posted Dec 10, 2009 12:25pm EST by Peter Gorenstein in Investing, Newsmakers, Recession
Related: gld, ewj, spy, dia, FXI, UUP, tlt

"It wouldn't surprise me at all to see a nice rally in the dollar,” 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 in the accompanying video.

At least for the time being, the U.S. remains the world's reserve currency. And, as St. Louis Fed President Jim Bullard reminded us in our recent interview, the dollar has rallied, not fallen, when things have looked especially worrisome during recent bouts of financial crisis. Rogers says it's nothing more than short covering, not an endorsement of the dollar or U.S. policy.

In fact, Rogers believes we're "overdue for a currency crisis" which will likely come "in the next year or two."

http://finance.yahoo.com/tech-ticker/article/387796/Globe-%2...

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I only got 1 question fer

Submitted by greatscott on Thu, 12/10/2009 - 19:43.

I only got 1 question fer yas? What will happen to the dollar when the next stimulus and bailout is implemented in 2010 just in time for the elections? I am not going anyhwere near the dollar.

Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny."- Thomas Jefferson

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There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

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I am going

Submitted by takeaction on Thu, 12/10/2009 - 19:38.

to go against Jim Rodgers on this one. I think he is losing some money on this one. I listened to his interview today on this topic, and he say he may get kicked in the butt on this one, but he is going to try it. We will see......I am going to stay long Gold and Silver and Short the dollar...

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Submitted by quiltingsando on Thu, 12/10/2009 - 19:35.

Thanks, for sharing this with us.

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