Investor Jim Rogers, who co-founded the Quantum Fund with George Soros in 1970, told Reuters that despite the U.S. government’s rhetoric about a strong greenback policy, the currency’s debasing continues.
“If we are going to continue to debase it, the dollar is going to go down a great deal,” he says. Rogers also said he doesn’t see any fundamental changes that would reverse greenback’s deterioration.
Rogers talked also about the stock market, saying it’s “overdue for a correction,” following a strong rally.
After the Reuters interview, Rogers said at a seminar hosted by ETF Securities that the bull market in U.S. Treasurys has come to an end.
[Reuters]“The next bubble that I see developing is in the United States government bond market. It is inconceivable to me that anybody would lend money to the U.S. government for 30 years in U.S. dollars at 3 to 6 percent interest rate,” he said. “So, somewhere along the line, this bubble is going to pop.”
Turning his attention towards commodities, Rogers said agricultural products, precious metals and oil remained among his favorite picks.
Rogers said he was certain crude oil could trade as high as $200 per barrel over the course of the bull market because of known reserves depletion.
