Friday, February 29, 2008

Printing dollars till there are no trees left

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 (1483 views)
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11 thoughts on “Printing dollars till there are no trees left

  • sold 2 rent 1 says:

    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

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  • Glad to have saddled the horses and loaded up the waggons…

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  • 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.

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  • 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!

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  • i’m opening a rupee retirement account tomorrow

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  • 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.

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  • 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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