Well this looks bad.

5141 Views 35 Replies 10 Participants Last post by AgentFlounder, Dec 29, 2008

Magus

Discussion Starter · Dec 17, 2008

Tuesday, December 16, 2008
Investors Selling the US dollar before COLLAPSE
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.''

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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NaeKid

· #4 · Dec 17, 2008

So - you are suggesting that I start gold-panning to have the gold in my back-pocket? Or, are you suggesting that purchasing as much gold jewlery would be the better choice? Or, finally, purchase raw gold bricks and hide them under my bed?

I wouldn't go for the "futures" stuff - that's part of the reason why everything has gone haywire in the last couple of months ..

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NaeKid

· #8 · Dec 18, 2008

endurance said:
I've been gradually acquiring a little gold for the last couple months, but now it's really starting to climb again. I'm debating whether to get more gold or get what I really want; full PV. I'm looking at an 8x180w off grid system that's $8k. Sure seems like that would be of more use to me after the hyperinflation started than a pile of gold. I just worry that if I don't get it now, I won't be able to afford it later. Plus, even without hyperinflation or a crash, I'll be off the grid, with fixed electrical costs for the next 20-odd years.

This is what got me a little nervous recently.

I believe that I posted that same information a while ago. I will take that information with a grain-of-salt - some of it seems to be far-fetched. Some of it seems quite plausable. I am not going to do the "wait-n-see" what happens next - I will continue my plans in such a way to be grid-free the way that my father and grandparents were ...

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