Currency Crisis Will Get Worse: Jim Rogers

[Lumi]

Currency Crisis Will Get Worse: Jim Rogers

[FONT=Times New Roman, Times, serif]American investor and financial commentator, Jim Rogers in an interview to ET Now said that the currency crisis is going to get worse in the next 1-2 years. He said emerging markets can fall in short term and did not see bailout as good option for Greece. Rogers' prefered agricultural commodities over others. (Watch)[/FONT]
[FONT=Times New Roman, Times, serif]You have been warning us for quite sometime now about our currency crisis. Is that what is finally upon us?[/FONT]
[FONT=Times New Roman, Times, serif]The currency crisis has been going on for a while. It did not start this week. It has been happening for a while. It started with, maybe depending on how you want to look at it, with Iceland or Latvia or many other countries who have been having problems, and the currency crisis is continuing and is going to get worse. This is not the end. Over the next year or more, we are going to see more. So prepare yourself. (Watch)[/FONT]
[FONT=Times New Roman, Times, serif]I was reading that you are long on euros. Is that the case?[/FONT]
[FONT=Times New Roman, Times, serif]I have been long on the euros and I am long some euros, I wish I weren?t. I have been going down but I am long some euros. I am long more US dollars for what that is worth but euros are not helping me that these days.[/FONT]

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[selkirk]

Rogers makes some several good points, and most of his views have not changed over time, he is in the first edition of market wizards (interviews with money managers, ect.)

do not agree that Greee should not have been bailed out, they had no choice, the German and French banks could not take the hit, and it would spread and only get worse.

Greece has a plan, if they raise taxes a small amount and more importantly collect half the taxes they are missing then the situation should improve...or at least by them time...time will tell.
the euro banks 962 million move is worth it just to delay the meltdown, it give the governments /countries in question, time....and that is worth a lot, hopefully they will make use of it, or we could be in the same place in a year or two.


thanks
selkirk

 

[Lumi]

SELKIRK,

How many EuroStates are we going to bailout?
How long will it take the American people to say enough of this shit, bail us out Mr. President !

 

[selkirk]

made a mistake that is 962 billion, well will be around 980 billion.

Illumanti this is a European bailout, in fact the German taxpayer will be the biggest contributor, not a popular notion there...as for the US it along with Canada, will provide money through the IMF.

compared to Europe it will be relatively small. I am not happy as a taxpayer in Canada to have even $1 dollar go to a bailout because to mismangement but one it is a relative small amount compared to the amount Europe will be putting up..

also tell me the alternative, 5 states crumble, Europe goes into a sharp downturn, believe US exports 25% to Europe ( they Export more than import) that is gone...the value of the trade will be cut in half...and those jobs are gone.

what happen when Europe goes, Asia economy slows down, in the end 980 billion will seem cheap if the credit makrets freeze up...

the only thing this buys is time, and hopefully Spain, Greece, Portugal, ect. get their act together, and there are signs...and again most of the bill is on Europe.

all of this recent bailout is on them, later some from the IMF.


thanks
selkirk

 

[selkirk]

also what happens if the greek bonds go to zero, and large european bank are holding them, and they go down...some of the biggest in the world.

since the world in so interconnected it would hit Large Asia and European, and BAnk in the US,....I wonder what some US financials in these markets.

they cannnot let it get that far, governments around the world have to much debt to jump start (or try ) the economy again.

thanks
selkirk

 

[Lumi]

The US is supplying 1/5 of the bailout, so far....
how long will it take untill we, the American Taxpayer realize that the Hay diddle diddle is going on, just as it has here? Into the bank and out of the bank and into the bankers pockets. It's going to be a big EFFFF YOU of Galactic Proportions.

Money created by the act of lending the money to some government or organization is merely creating debt.
It is theft by lending your institutions monetized debt. Your acceptance of their fiat money is the only way they can make this happen.
The money was an illusion in the first place so everything purchased with it is subject to debt and therefore stolen to begin with.
The collapse was inevitable because the money has been a fairy tale since leaving the gold standard.
The crash has already happened.