posted on Sep, 14 2009 @ 09:51 AM
Chalk this up to another member of the economic establishment sounding more and more like one of us at AboveTopSecret.com
Jim Rogers a dual academic and famed investor, has bluntly said the worst of the economic crisis "is not over" and a dollar crisis will start this
fall or next year.
This about sums it up in my opinion:
"How can the solution for debt and consumption be more debt and more consumption? How can that be the solution to our problems?," he said.
For those with opposing views, it's worth to note that Rogers is one of the more famous "Austrian" economists -- i.e. doesn't believe in the
long-term stability of fiat currencies -- so his statement may be a little "duh!"
This article doesn't
clearly state why he expects a currency crisis, although maybe the statement
doesn't need to be said: Too much debt.
On his blog, Rogers also indicates the currency may not necessarily be the dollar that's the problem.
You can view the CNBC interview here
whether it starts with the british pound or the US dollar, or some other currency, the Ruble, who knows, we are going to have many, many currency