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%.