Saturday, August 23, 2008

Jim Rogers says the Dollar is Doomed

In this dated interview, Jim Rogers said that he was dumping his US dollars. Rogers also commented that he did not believe that a strong economy could be derived from debasing the US dollar and decreasing interest rates. He likened the US dollar to the sterling which saw its decline over the years.

Rogers also commented that the price of oil could go up to even more surprising levels as no new major oil field had been discovered in the last 40 years.

When asked to compare between the Bank of England and the Fed Reserve, Rogers said that he would prefer the Bank of England to run the Fed Reserve. In fact, he said that he would prefer the EU bank or even the Central bank of China to run the Fed Reserve.

Jim Rogers concluding remarks state that he believed the Fed Reserve would disappear within the decade.

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