JIM ROGERS

JIM ROGERS

Sunday, September 11, 2011

The long-term forecast on the US dollar is disaster, a catastrophe

Jim Rogers on CNBC - 09 Sept 2011

Jim Rogers : The long-term forecast on the u.s. dollar is disaster, catastrophe. having said that, as I 've said on CNBC several times in the past few months I am long the u.s. dollar. and the only reason i'm long is because everybody in the world including me has been terribly pessimistic. And whenever that happens you should take the other side of the trade. I'm long u.s. dollar. i have no confidence in it. it's going to be a disaster. but as we speak I own probably more u.s. dollars than I've owned in many years and certainly more than other currencies .....Bob, to your point, Bernanke has been lying to us again. he announced in early august that he was going to keep interest rates at a very low rate for two years. Now Bob, how is he going to do that? you can't just say the words. you have to go into the market and force interest rates down. I mean come on. what is this, you believe in the tooth fairy? he's in there. that's the only way he can do it. if you don't believe the theory of monetary policy works, get out the unadjusted numbers since the beginning of august and you will see they shot up starting at the beginning of august as soon as he said we're going keep interest rates down. so he's in the market. he may be lying to us, they usually do, but he's in there. be prepared. ...- in CNBC

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%.





Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry 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%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "