Jim Rogers "The dollar is going to loose it's status as the world's reserve currency" 25Feb08
Jim Rogers interview on 25 Feb 08 with Bloomberg is OUTSTANDING, the best 27 minutes of financial information available:
Highlights Jim Rogers on Bloomberg 25Feb08 Minute interview:
"Agriculture best place to be, maybe silver maybe palladium"
1:40 "inflation is going to be much, much worse... the price of most food is going to go up"
"Oil may down, but it will not stay down... I don't see where the supply is going to come from"
03:32 "all bubbles end badly, Ireland has a property bubble... every bubble in history of the world ends badly"
"I have never seen a soft landing in the history of the world... I know politicians and banker"
"I am short all the investment banks in America, I have no intention of covering, Citibank, BAC"
0540 "I see hard times for Banks and finance...anybody in that business is tainted and the stocks will not due well"
"the US is in recession. The government lies about it...[retail, housing, automobiles]...
0756 "Japanese did the same thing and they have not recovered in 18 years"
How low can the dollar go?
0834 "the British sterling lost 80% when it losts it's status as the worlds reserve currency... the dollar is going to go down a great deal"
"I am buying the Swiss frank, the Yen and the Rhinibi"
"The dollar is going to loose it's status as the median of exchange... just as a the Sterling did...it's enemies will move away and then its friends will move away...it will be a snowball effect"
"Debasing the currency will not work in the long term."
"I am not optimistic on finance"
1410 "as long as the Central Bank keeps making mistakes...we will have the same thing that happened to the Japanese, perhaps it will be the worse recession that we have had in a long time"
"Central bank of America is going from one bubble to another bubble. All of this printing money has not done much for America, it has been good for Wall street"
"I much prefer commodities. it is not a time for me to be buying stocks...I buying cotton, sugar, coffee"
"I hope to get out of my US dollars"
"Commodities are going to go up regardless, due to supply and demand"
"Iranians are trading oil in Euro right now"
"Wind power is not competitive. Solar power is not competitive right now."
"American politicians love biofuel...you can buy votes"
On the election,
"Whoever wins does not seem to understand America is way over extended"
2347 "America is terribly overextended"
"I am still short homebuilders"
"Central banks are still printing money. It is going to go into inflation or going to go into commodities"
"printing money is going to make the recession longer"
"Same mistake the Japanese made"