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 24 people Date: February 6th, 2009 Website:www.SHTFplan.com
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