Mr. Rogers indicates that the only currency he is currently buying is the Yen, and will continue to do so on estimates that it will improve another 10% to 15%. Once that level is reached, he says his problem will be what to do with the yen, “The yen is not going to continue to go up forever, because there are many serious problems in Japan.”
my comments : I suspect once the Yen reaches those highs of 15% or so, it might be a good short-sell against a currency like the Australian Dollar or Euro. More on this later..
Rogers makes an interesting observation on the US dollar saying that the media is suggesting that that the dollar is going up as a result of it being a safehaven currency. He calls this a “balderdash”. His opionion is that the US dollar is being short-sold around the world, and the shorts are being forced to cover, taking the dollar on an artificual upswing.
My plan with the US dollar is sometime this year to get out of the US Dollar. I hope by this time next year i own zero of the US dollar.
We’re going to have serious financial problems starting in currency markets. Whether it starts with the Pound Sterling, the US dollar, or the Ruble.
I don’t know which currency I will end up in.
Jim Rogers says that investors should prepare themselves, as spectacular opportunities will exist in the currency markets.
Mac Slavo Views:
Read by 13 people Date: February 6th, 2009 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.