Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Jim Rogers: I will sell all US dollars
+ -
13:17, September 11, 2009

 Related News
 Jim Rogers: 4 trillion package significantly effective
 Jim Rogers: Real estate prices too high in China, I won't buy it
 China's lower holding of U.S. Treasury bonds "response to weaker dollar"
 China issues more than $300 bln T-bonds in 2007
 China to issue 200 bln yuan special T bonds to finance forex exchange firm
 Comment  Tell A Friend
 Print Format  Save Article
Jim Rogers talked about US dollars while he was attending the China International Financial Services Conference (CIFSC) held in Guangzhou on September 10, 2009.

Rogers believes that the last 50 years is U.S. government's journey into a huge debt and the U.S. government's decision-makers are still repeating this mistake.

Measures taken by countries to rescue the economy is continuously printing banknotes, which will lead to inflation (except energy prices), and this process will not be interrupted unless there are more banks close down.

Europe and the United States government have fallen into the vicious cycle of "issue bonds - inflation - issue more bonds – inflation again". I will not buy more United States Treasury bonds because the government is constantly printing more banknotes. The world will never be a lack of U.S. dollars. I will buy oil, minerals and stock of those companies which are engaged in the real economy.

US dollar economy has encountered major problems, the dollar index fell to a new low, and it will continue to fall. If the dollar rebounds in the future, I will sell all the U.S. dollars. My whole family has moved to live in Asia. The story of the United States is over. A new story belongs to China.

With regard to the U.S. Treasury bonds, Rogers thinks that both the U.S. bond market bubble and the crisis are growing. He could not tell when and how the bubble will burst, but he thinks lending money to creditors for 30 years and only takes 3% to 4% annual interest rate is a very unreasonable. In the short term, because there are more people to buy U.S. Treasury bonds, interest rates will be cut for a short time, but on the long run interest rates will surely rise. Therefore, China should further expand the U.S. Treasury holdings, or else China will suffer losses.

By People's Daily Online



  Your Message:   Most Commented:
Being African among the curious Chinese
Why India is pursuing military strength?
Baby alien found by Mexican farmer
What is beyond the physical Line?
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90857/90862/6754969.pdf