Friday, Feb 29, 2008
Printing dollars till there are no trees left
Times: Quantum's Jim Rogers says US 'out of control'
Investment biker Jim Rogers says America is “completely out of control”, there will be a 20-year bull market in commodities, and that prices will be in turmoil.
"In a blistering attack on US monetary policy and the “helicopter cash drop” responses of the Federal Reserve, Mr Rogers described the American dollar as a “terribly flawed currency”...The dollar may have declined recently, he added, “but you ain’t seen nothing yet”.
Gold would continue to rise, the analyst Christopher Wood told fund managers, “because it is the exact opposite of a structured finance product”." recons it will go to $3,500
Posted by happyrenterz @ 06:24 PM (1069 views) Add Comment
13 Comments
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1. happyrenterz said...
Getting worse for the dollar all the time New York Times: Russia Quietly Starts to Shift Its Oil Trade Into Rubles
2. happyrenterz said...
Can commodities serve as a reserve currency?
3. sold 2 rent 1 said...
The money supply evidence suggests a 1970s style stagflation and commodity bull run.
The scale of the debt problem is such that the inflation can never be brought down again like in 1980 with sky high interest rates, otherwise a depression comes on. There is no choice but to hyperinflate.
Add in peak oil and you have a world crisis on your hands
4. harold said...
Glad to have saddled the horses and loaded up the waggons...
5. harold said...
I think there was a rather ominous sign today. Usually around 2pm GMT there is a take-down in gold coordinated to coincide with end-of-week profit taking. But today? Nothing. They didn't even try. Things must be bad.
6. drewster said...
Good post, happyrenterz. Jim Rogers is a well-established investor with an excellent track record. He doesn't hedge his bets with caveats and what-ifs, he sticks his neck out and says what he really thinks. For all our sakes though, I hope he's wrong this time!
7. harold said...
If China unpegs, which they have to, the fat lady sings:
http://www.safehaven.com/article-9582.htm
8. trough2010 said...
i'm opening a rupee retirement account tomorrow
9. harold said...
trough2010, that's not as daft as it sounds. I was in India recently: okay so they have problems and poverty, but they also have a huge, highly educated and motivated middle class who are willing to work. Say "hello" to the new super-power. Before long, anything not nailed down in the UK will be bought and removed by these guys.
10. happyrenterz said...
Some Gulf states thinking about decoupling and Greenspan gives his opinion where is isnt wanted as usual Dropping Gulf dollar peg would ease inflation: Greenspan
11. trough2010 said...
i am in india at the moment (chennai). tell me about an educated and motivated population :) you're right, the future isn't problem free but they have superpower opportunities ahead for sure
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