As for the dollar, we’re going to have a currency crisis probably this fall or the fall of 2010. It’s been building up for a long time. We’ve had a huge rally in the dollar, an artificial rally.
it is time for a correction , Jim Rogers prefers the Euro and the Yen over the dollar....Jim Rogers likes agricultural commodities , prefers silver to gold and Palladium to Platinum...
The U.S. dollar is a very flawed currency.
JIM ROGERS BLOG is An Unofficial Tracking Blog of Global Investor Wall Street King and author Jim Rogers , his investments speeches interviews ideas and much more....
At what point will people finally stop paying on their debt? The Titanic is sinking. We're headed for a world where a credit rating is irrelevant. Don't people see this? Think of all those things that you think you need credit for--a house, a car, a college education and luxury items at the shopping mall and ask yourself, is there any other way that you can get these items without credit?
ReplyDeleteA house could easily be replaced by a rented apartment or a mobile home that you could save money for. They could say that people who don't pay their bills on time would find it hard to find an apartment. So, we're just going to have people who have money to pay for rent and are working just live out on the street because they didn't pay their light bill five years ago? Right.
What's wrong with moving closer to work, walking, a bicycle or public transportation?
I happen to think that I shouldn't have to pay for a college education. I think that should be paid for with tax dollars.
And do you REALLY need to buy luxury items at the shopping mall?
So you see....we don't need credit to survive. All of this credit was introduced into the economy as a means to help facilitate globalization. The long credit-fueled consumer binge in the United States has helped to give billions of jobs to third world countries, but it has also perpetuated the stagnant wages that has existed in the American economy since the 1970's. We now have people in Walmart making low wages helping to sell items that are made by people...making low wages. You only get what you give. This is the future.
So consumers should stop worrying about the fine china. The Titanic is sinking and it's only a matter of time before the rumors are confirmed. Consumers should stop trying to save their credit record because we're headed for a world where a credit rating is irrelevant.
Trying to figure out the timing of the currency crisis. What is his reason for saying it will be either this fall or fall 2010? What happens in the fall of each year that would make that the timing? Is it because of the change of the U.S. fiscal year?
ReplyDeleteAll the quantitive easing (money printing) has an inflationary effect on the money supply. In the case of what the Fed has done in the last year, hyperinflation is baked in...and inflation trails behind about 12-18 months. It will hit the unprepared like a freight train. You don't want to know how large M3 has become...prepare yourself and convert your wealth to tangible assets. They never talk about it in the news, why would they, but the derivatives insanity had reached 500 trillion and counting! World GDP or GWP is about 65 trillion a year. The couple of trillion dollars the fed had printed doesnt mean shit, they are taking the system down with it.
ReplyDelete