Jim Rogers: America is bankrupt

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1. Date: 2008-11-08 04:19:42
Subject: Jim Rogers: America is bankrupt
From: Don Tiberone <s...@m...com> Search message by this author

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Jim Rogers: America is bankrupt (with video)

America is bankrupt, according to investment legend Jim Rogers. "The
American government bonds are the world's last bubble and the price of
commodities has to increase."

Charismatic
The famous and charismatic investor, guru if you will, Jim Rogers,
visited ABN Amro Netherlands last Friday. RTL Z was at ABN
headquarters as well and recorded a number of statements, investment
tips and opinions about the world economy.

Rogers
During the seventies Jim Rogers (66) managed a successful hedge fund
with George Soros. After that, he traveled and went into commodities.
Click here for the wikipedia entry for Rogers.

Last Friday Rogers went at it in front of a roomful of ABN private
banking clients. We had an exclusive 15-minute interview with Rogers.

The most important points:
America is bankrupt. American government bonds are extremely
overvalued. "The world's last bubble." America is in debt for over
13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar
debt each year. According to Rogers this can not continue for long.
Therefore, he went short in long-term US goverment bonds. "These bonds
have peaked." By the way: Rogers owns Dutch government bonds. "They
are safe."

"The fact that the dollar is gaining rapidly is only temporary",
Rogers says. "All hedge funds were short on the dollar and because of
the appreciation of the dollar there is a short squeeze for the
dollar. Managers have to close thier positions and they have to buy
dollars instead." "This is temporary, within a year you have to get
rid of the dollar. Fundamentally it is a drama."

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2. Date: 2008-11-09 12:39:07
Subject: Re: Jim Rogers: America is bankrupt
From: raylopez99 <r...@y...com> Search message by this author

On Nov 7, 8:19 pm, Don Tiberone <s...@m...com> wrote:

> "The fact that the dollar is gaining rapidly is only temporary",
> Rogers says. "All hedge funds were short on the dollar and because of
> the appreciation of the dollar there is a short squeeze for the
> dollar. Managers have to close thier positions and they have to buy
> dollars instead." "This is temporary, within a year you have to get
> rid of the dollar. Fundamentally it is a drama."

Talking his book and this news is about a month old.

For all we know Rogers has lighted up on his position.

RL