 |
Jim Rogers Sells Dollars, Plans to Short Treasuries
Bob Chen
Bloomberg News
Monday, July 6, 2009
July 6 (Bloomberg) — The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of Rogers Holdings.
“The government is printing lots of money and borrowing even more; that’s not the basis for a sound currency,” he said in a telephone interview today from Singapore. “The idea that anybody would lend money to the U.S. government for 30 years at 3 or 4 or 5 or 6 percent interest is mind-boggling to me.”
(ARTICLE CONTINUES BELOW)
Rogers, the author of books including “Investment Biker” and “Adventure Capitalist”, said he holds fewer dollars than a year ago and plans to “short U.S. government bonds someday.” A short bet involves selling a security you don’t own with a view to buying it back after the price has fallen.
The U.S. is stepping up debt sales to finance a record budget deficit as it tries to spend its way out of a recession and that’s causing the supply of the securities to balloon. After more than doubling note and bond offerings to $963 billion in the first half, another $1.1 trillion may be sold by year-end, according to Barclays Plc, one of the 16 primary dealers that are obligated to bid at Treasury auctions.
Prison
Planet.tv Members Can Watch
Fall Of The Republic
Right Now Online -
Don't Miss Out! Get
Your Subscription Today!
CANCER CONSPIRACY? Are
"they" suppressing the cure? Will YOU
be the next victim? Learn
the Secret Truth! - READ FULL STORY
-
- Social bookmarks
- Email this article
-
- Print this page
16 Responses to “Jim Rogers Sells Dollars, Plans to Short Treasuries”
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | |||||||
| By N2H | |||||||||||||||||||||||||||||||||||||||||
July 6th, 2009 at 4:41 am
If someone like Rogers is selling the dollar, that’s a very bad sign, in my humble opinion. The flood gates are slowly opening, once the market hears of the *big guys* and *hero’s* dropping the dollar, the rest of the market will follow shortly. These guys set the trend, and that trend is to shed themselves of worthless dollars.
July 6th, 2009 at 4:48 am
He’s been selling the dollar and predicting doom since the 1990’s.
Madman Reply:
July 6th, 2009 at 5:00 am
Humm, maybe the rest of the world is ready to follow his lead this time… seems like China, Russia, India, etc are on board.
July 6th, 2009 at 5:56 am
History shows that republics last about 200 years before people decide that they can vote themselves benefits at the expense of others. They clean out the treasury and tax those who are wealthy. The wealthy in turn decide it isn’t in their best interest to keep working to support others and they stop producing. In the end the system collapses becuase no one has any money left to be taken and the people start to look for a “strong man” to take control. The republic gives way to dictatorship and worse. I think we are at that point now.
Madman Reply:
July 6th, 2009 at 8:29 am
I think with the election of Obama, we are already in the Dictatorship state… they took away term limits etc a few months ago in a bill, shoved under another bill… if memory serves correctly.
Brandon Reply:
July 6th, 2009 at 10:47 am
I agree with you I think we are heading to that point with obama. I think obama becoming a quasi dictator is much more likely than ole bush was.
July 6th, 2009 at 6:57 am
A specific way to short treasuries would be to buy either TBT (10 year) or TMV (30 year)
July 6th, 2009 at 8:28 am
When is the US dollar really going to collapse? People continue to raise my hopes by promising the collapse is imminent.
July 6th, 2009 at 8:29 am
Democracy collapses in 200 years because THE RICH BUY THE GOVERNMENT AND WON’T PAY TAXES.
July 6th, 2009 at 8:37 am
I believe most are ignoring the obvious exit strategy to the irrational behavior our government has taken. It is my belief the wars in the Middle East will escalate. When Americans hold the globe at the barrel of a gun, the dollar will remain as the reserve currency.
I for one would like to see China buy out our defense treaty with Taiwan. I think the four trillion China holds in foreign reserves would provide a nice shot in the arm over at Treasury.
July 6th, 2009 at 8:44 am
let’s do something about it. yes, it is good to discuss what is REALLY going on (kudos to all you who are actually awake), but at some point we have to stop talking, stop thinking, and stop deliberating and start DOING. we have to move on to the next step now that we know. we have the responsibility on our shoulders to awaken the walking sleepers because we KNOW the TRUTH. if we all actually care and are pissed off, because i am very pissed off at this bullshit, then we have to start doing something about. first step, we have to get the message across to the sleepers by compiling a way to speak to them. the truth is very good at awakening people and we are delving in the truth. the second step would be to remove all politicians from office and start anew. i’m not really technologically savvy, but there has to be a way to break the mass media broadcasting and televise something for at lest ten minutes that will reach millions of people; millions of people who do not know what the hell is going on. i’m not talking about revolution, but a civil way to find a solution and the solution is to have everyone on the same page that way the power doesn’t seem to lie in the governments hands. people are ignorant, yes, but, there is a way to break that ignorance; people have the opportunity to NOT accept the bullshit being fed to us, by the FED and the government, and to stop being complacent on the double speak from very good questions. we pay their salaries, we’re their bosses, will you lie to your boss? will you not answer important questions from your boss? can you do whatever the fuck you want and put it on your bosses tab? can you give your boss bullshit? no, no, no and no. i would be a hypocrite if i do not follow what i’ve ranted about, but, in all honesty, i am doing my part. although, i have to admit, one person reaching out to one person at a time is not efficient enough. humans are naturally gregarious and if the sleepers see that a lot more people are actually taking light on this matter then let’s do something about. let’s start talking about how we can actually move towards progress. progress through truth. progress towards positivity. progress towards a new evolution, not towards a new revolution.
July 6th, 2009 at 10:52 am
Dude that is such a good point I can’t believe no one has brought this up yet. These guys are so obsessed with making money that they have completely lost sight of the basic thing IE the place you live. Why would someone want to invest in communist China just on general principal.
July 6th, 2009 at 4:54 pm
So what if the dollar becomes worthless, I could always use some more toilet paper with the money I have saved up.
July 6th, 2009 at 10:45 pm
It’s funny how American will sell there own mother just to gain for themselves.
At least the Hans keep it within themselves.
July 7th, 2009 at 1:02 am
One thing you can bet is that China isn’t going to hurt themselves. Now they are already unloading their dollar positions, but they are doing it slowly and quietly, the trouble is they are having trouble selling their positions, because no one wants them, not while the Fed is printing money like they are manufactoring toilet paper. So look for it to take another six months or so before China can get rid of enough of their dollar positions before they crash us with the last remaining positions, and when they do finally crash us, it will be ruthless.
The best thing to do with disposable cash is to convert it to a commodity, and I don’t just mean Gold, there are other metals, other commodities, and don’t forget Real Estate, though I don’t think we’ve come anywhere close to the bottom of the Real Estate Market yet, look for that to take another two years before we find a bottom to that, but there are always some pretty good deals on Foreclosures out there, you can always buy a forclosure then owner finance the property to someone else using a variable rate loan and you can collect on inflation as well. A Good Capitalist can make more money in a bear market than he can in a bull…
July 7th, 2009 at 7:08 am
If every American converted their dollars to gold and other real assets then the fed would be sitting there with all of the mountains of worthless paper they printed. It is nothing more that legalized hot checks.