Jim Rogers : The Wall Street Journal Interview - 25 July 2011

Jim Rogers : " Well Kelly all this stuff in Washington , I know you have to report on something but it's basically a scam a charade if you ask me they're just trying to get publicity they're no going to default , if the US defaults it will be for a day or two they are going to put together some kind of false package they're going to say everything is alright but then everything is going to get worse . What is the status of the US Dollar ? I actually own the US Dollar at the moment because everybody is so pessimistic on it , including me , usually when that kind of thing happens something comes along and causes a rally "
"Well Kelly I have been investing a long time and I have found that normally when everybody is on one side of the boat , you should go to the other side at least for the moment . Yes longer term I said everybody is pessimistic on the dollar , including me . I am one of the most pessimistic , but I do know that everybody's been beating the dollar down so I bought it . If they announce a package or if they change some laws to encourage dollars to come home , who knows ? Something could happen to cause a rally in the dollar . Longer term will I own the dollar ? Absolutely not ."
"Because as I said everybody is pessimistic , everybody's sold the dollar on the scenario you have just said and that could very well change , no I don't expect them to have real spending cuts Kelly they've been doing this for forty years talking about how they're going to solve the problems of the deficit . You remember the Grace Commission ? You remember the Gramm-Rudman Act ? the Gramm-Rudman Act said we cannot have deficit spending anymore . well that was 25 years ago they've forgotten about it . "
“Kelly The U.S. Already Has Lost AAA Rating , Everyone who knows what's going on already knows that the U.S. has lost its AAA status,” Rogers said. “Anyone who knows what is going on, already knows that the U.S. is now the biggest debtor nation in the history of the world. It’s only S&P and Moody’s that haven’t figured out what is going on. The investment world knows that the U.S. is not AAA.”





Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.