Thursday, January 29, 2009

Another wealthy man believes the US dollar is in trouble

Another wealthy investor has indicated his belief that these stimulus packages will not help the US or global economy and refers to it as just printing money, a historic way to cause a currency crisis and high inflation. Jim Rogers apparently made a lot of money when he predicted the Pound would lose its value some years back and now predicts the same for the US dollar. I am no economist but it concerns me that some very financially successfully individuals like Jim Rogers and Robert Kiyosaki are making such predictions. They are asking why rich wall street bankers are being bailed out by the American tax payer. Both of them suggest buying commodities like Gold and Silver. In South Africa on the JSE you can do this with ABSA’s EFT New Gold, code GLD. I am still trying to make my mind up! A least in the short term it seems like the markets like these bailouts. I have also heard to interesting reports that say the Meryl Lynch CEO bought a carpet for his office cost R 1 000 000, total office decor $ 1 000 000. Another saying the Lehman Brother’s CEO Richard Fuld sold his multi-million dollar mansion ($14 000 000) to his wife for $100. Sounds like someone is protecting his personal assets from litigation???? Anyhow use the google search on my page to listen to some of Jim Roger’s interviews, it’s very interesting.

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