In his latest interview with The Wall Street Journal, famed
Quantum Fund co-founder and investor Jim Rogers tells it like it
is, as usual. Among other choice snippets, Rogers remarks that the
current debt talk negotiations are simply a scam and a charade,
and are just trying to get publicity. What follows are a few more,
and you can view the entire
video clip below.
On the US potentially losing its AAA status The
US has lost its AAA status. Anybody who knows whats going
on knows that the US is now the largest debtor nation in the history
of the world. Its only Moodys and S&P that havent
figured out whats going on. The world, the investment world,
the financial world knows that America is not AAA anymore. Who
cares what Moodys said? Moodys has gotten everything
wrong in the past 10 years, why do you pay attention to them?
On the US dollar I own the US dollar because
everyone is so pessimistic about it, and usually when that happens
something comes along to cause a rally. Everybody sold the dollar
under the current scenario, and that could well change.
On US long term bonds Im short United States
government bonds, long term bonds. I wouldnt lend money
to the United States in US dollars for 30 years at three or four
or five, or you name the interest rate.
Rocky Vega is a regular
contributor to The Daily
Reckoning. Previously, he was founding publisher of UrbanTurf
and RFID Update, which he operated from Brazil, Chile, and
Puerto Rico, and associate publisher of FierceFinance. He
specialized in direct marketing at MBI, facilitated MIT Sloan School
of Management programs, and has been featured on CBS. Vega graduated
with honors from Harvard University, where he was on the board of
Letís Go Publications and directed business programs involving McKinsey,
Goldman Sachs, and Harvard Business School faculty. He is also enrolled
at the Stockholm School of Economics.