Tuesday, Jan 20, 2009
Rogers urges investors to dump Sterling - UK is 'finished'. Typical end-game of a Labour government!
Bloomberg: Yen Gains to Record Versus Pound on Concern Bank Losses to Rise
I would urge you to sell any sterling you might have, said Jim Rogers, chairman of Singapore-based Rogers Holdings, in an interview with Bloomberg Television. Its finished. I hate to say it, but I would not put any money in the U.K.
Posted by tyrellcorporation @ 08:39 AM (918 views) Add Comment
5 Comments
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1. debtfree said...
$1.39 to £1
carnage.
gold now £595 o/z
2. drewster said...
Darn it! (and darn this swear filter!) Is it too late to get out now? Where should my money go instead, the Euro is looking distinctly rocky. I'd buy gold but I already have some and I don't want to be overweight in one single asset.
3. debtfree said...
drewster,
thought about swiss francs ?
4. plato said...
Short sterling......... then get in low........ make a killing....... who's he trying to kid?
5. bellwether said...
For about the 10th time in a couple of months HSBC do a pretty good offshore savings account, with good fx rates although limited to buying sterling yen usd and i think hkd and some interest
Personally I think it is worth having an account of this sort, as it allows you to trade long and substantial short term price movements. I am also of the view that sterling will continue to depreciate against the larger currencies ie usd and yen and possibly the euro, a situation that could deteriorate if our credit rating drops from AAA+ which I think it will.
No guarantees on any of this but the downward trend does appear to be continuing and it is difficult to see reasons why it will stop