Jim Rogers : "...The renminbi. I own and every chance I get I buy more renminbi because it's not that easy to buy the renminbi. You can't just pick up the phone and buy more renminbi, but when I can and I'm there I buy more renminbi. I don't like to use the word "safe" talking about investments but probably the least risky investment I know of any kind is to own the renminbi. I don't see how one can fail by owning the renminbi over the foreseeable future. ..."
How come?
Jim Rogers :"Well, first of all, it's a blocked currency and some people say it's artificially low. The Chinese are the largest creditor nation in the world. They have a huge balance of trade surplus so they are doing many things right so normally it means a currency will rise. They're not letting it rise as much apparently as they should, so as they continue to free it up, and they are freeing it up, you are going to see the renminbi go higher and higher. In the meantime, I get paid interest for owning the renminbi."
Via The Street.com>>>>
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