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Next Crisis Will Be in Currencies: Jim Rogers

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posted on May, 25 2009 @ 07:42 AM
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Next Crisis Will Be in Currencies: Jim Rogers


www.cnbc.com

The next financial meltdown will be in the currency markets, as central banks around the world have been printing money, giving the appearance of massive government intervention to weaken their currencies, legendary investor Jim Rogers, chairman, Rogers Holdings, told CNBC Wednesday.

"At the moment I have virtually no hedges, I suspect it is going to be the next problem, big crisis will be in the currency markets, I'm trying to figure out what to do there," Rogers told "Squawk Box Asia"
(visit the link for the full news article)


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posted on May, 25 2009 @ 07:42 AM
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Is everyone ready? It's already happening with the Dollar Devaluing.

While Rogers is talking in the long run in the article, we can already see the changes in the market. He went on to say...

For the moment currencies may look safer than anything else in the markets, as stocks may face a new bottom since they were artificially lifted by the amount of money created by central banks, but there are pitfalls ahead, he said.

"If I am right, you're going to see a lot of currency problems in the next decade or two," Rogers said.

"Governments around the world are doing their best to destroy currencies, many currencies in fact. And people need to understand that; if they don't understand it now, they're going to find out, they're going to find out the hard way," he added.


I have no doubt in my mind that currencies are next on the chopping block. With the US Fed printing money like crazy trying to keep the economy going and other countries seemingly following suit.

If you think the Stock Market and Economy are in the dumps now, just wait...


www.cnbc.com
(visit the link for the full news article)



posted on May, 25 2009 @ 07:59 AM
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I have Pound Sterling in England but I live in Thailand..... so what does this mean to me?

What should I do? A couple of years ago I was getting 75 Thai to 1 GBP. Then it dropped big time down to 47 and now it is slowly creeping back up. Today 53 Thai to 1 GBP.

Thanks



posted on May, 25 2009 @ 08:03 AM
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reply to post by muddyhoop
 


I would rather not give investment advice.

Why not look it up yourself and become knowledgeable in currencies. There are many sites all over the net that can help you out. I started by reading cnbc.com and branched out from there.



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