Monday, January 9, 2012

The US dollar is a terribly flawed currency

Jim Rogers : I own US dollars. I do not own US bonds. It is a bubble as far as I am concerned. I expect sometime I will be shorting US government bonds, but I do plan to own US dollars. Now, the reason I own US dollars is because there were so many pessimists on the US dollar that I bought some and if we continue to have currency turmoil which I expect, then many people are going to flock to the US dollar. US dollar is not a safe haven, but many people think it is or they do not know what else to do. So they have put their money in the dollars. Somewhere along the line, if the dollar goes up, then I may be the seller.I do not know if I will ever own US dollar after that because the US dollar is a terribly flawed currency. - in MoneyControl