Jim Rogers: CNBC Is A PR Agency

Jim Rogers, chairman of Rogers Holdings, told CNBC why he would not be a buyer of BP shares right now.
Jim Rogers : I am not rushing into buying BP , I am not short BP I am not doing anything I am watching because I know from previous experience that these things take a long time and that it takes plenty of time to do something later on , I will say Anna that this is going to put more pressure on the price of oil because this means less drilling more expensive drilling , less drilling more expensive drilling means less oil , , less oil means higher prices down the road ......Jim Rogers believes that BP have done what it was required to be done in fixing the oil spill....
Jim Rogers says that the European stress test was a total waste that was just PR and little else , it has no influence on what he does with the Euro , Rogers said that he still owns the Euro he is not selling the Euro and that he does have absolutely no clue how it is going to work out , the pressure was so great that he step in and buy it but he is still watching although he suspect he will go a bit higher but that he has no idea if he will keep owning it ( The Euro) ask him next week , next month next year events will dictate what happens ...the stress test was just PR they got the stocks up that's the whole purpose of PR Jim Rogers explains that's what CNBC and many other PR agencies are all about yes it makes things look better for a while , are they really better ? Jim rogers asks , no he answered they did not look at a lot of things that could go wrong , if you want to buy banks stocks by all means , I am not buying banks stocks at this point because I am not sure the problems are really solved I am not sure the problems are solved in most parts of the worlds economy so I am watching rather than acting Jim Rogers explains ...