Jim Rogers holds on to the Dollar despite its Flaws
Jim Rogers, the Chairman of Rogers Holding, says he is still holding on to the dollar for a year or two, simply because everybody is running to it (despite its very bad condition - its value has gone done, the US debt is insurmountable, huge US deficit, China is dumping US dollar). The Euro last week was dragged down to its lowest rate of $l.236 due to the Greece concern ( and even Spain)
As with regards to Eurozone:
Spain, Italy, Belgium, Portugal and even France problems
He thinks the politicians in Europe are in denial.
He believes it is best for Europe to go bankrupt and start all over again. Then they will understand austerity and belt tightening rather than imposing that from the lender side.
On bail outs? That will be temporary. At some point in time, the credit will be declined.
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