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Investors Selling the US dollar before COLLAPSE

Posted By admin On December 17, 2008 @ 4:59 am In Commentary | Comments Disabled

The Coming Depression [1]
Wednesday, Dec 17, 2008

Investor Jim Rogers urged people to get out of the dollar and says he expects to be rid of all his U.S. currency assets by summer next year.

“If you have dollars, I urge you to get out,” Rogers said in an interview from Singapore. He is chairman of New York-based Rogers Holdings, formerly known as Beeland Interests Inc. “That’s not a currency to own.”

… Rogers, who predicted the start of the global commodities rally in 1999, criticized Federal Reserve Chairman Ben S. Bernanke for comments on the currency before a congressional committee on Nov. 8.

“He is a total fool,” Rogers said. “He said Americans who buy only American goods are not affected if the value of the U.S. dollar goes down. I was terrified.”


Investors Selling the US dollar before COLLAPSE 121208banner3 [2]

Bernanke said the only effect of a weaker dollar on a typical American with their wealth in dollars, buying consumer goods in dollars, would be “their buying powers, it makes imported goods more expensive.”

Rogers said that’s not right.

“If you only buy American products and the dollar goes down, the price of oil goes up, copper goes up, wheat goes up,” he said. “That affects you. He doesn’t understand the economy as far as I can see.”

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URLs in this post:

[1] The Coming Depression : http://thecomingdepression.blogspot.com/2008/12/investors-selling-us-dollar-before.html

[2] Image: http://www.efoodsdirect.com/products.html

[3] Panic selling of the U.S. dollar now underway as debt system implodes: http://www.prisonplanet.com/panic-selling-of-the-u-s-dollar-now-underway-as-debt-system-implodes.html

[4] Rogers Says Dollar to Be `Devalued,’ Buys Commodities: http://www.prisonplanet.com/rogers-says-dollar-to-be-devalued-buys-commodities.html

[5] Gold Usurps Dollar As Safe Haven for Worried Investors: http://www.prisonplanet.com/gold-usurps-dollar-as-safe-haven-for-worried-investors.html

[6] Our Politicians Are Selling Off Pieces Of America To Foreign Investors – And Goldman Sachs Is Helping Them Do It: http://www.prisonplanet.com/our-politicians-are-selling-off-pieces-of-america-to-foreign-investors-%e2%80%93-and-goldman-sachs-is-helping-them-do-it.html

[7] “Dollar Index Headed for Rapid Collapse” Over Next 3 to 4 Weeks: http://www.prisonplanet.com/%e2%80%9cdollar-index-headed-for-rapid-collapse%e2%80%9d-over-next-3-to-4-weeks.html

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