Thread: Avoid Dollar `At All Costs,'

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  1. #1 Avoid Dollar `At All Costs,' 
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    Avoid Dollar `At All Costs,' Investor Rogers Says (Update2)

    By Zhang Shidong

    June 30 (Bloomberg) -- Jim Rogers, who in April 2006 correctly predicted oil would reach $100 a barrel and gold $1,000 an ounce, said investors should steer clear of the dollar as the U.S. economy slows and favor commodities this year.

    The dollar has slipped 7.7 percent against the euro and 5.9 percent versus the yen in 2008 as the Federal Reserve cut interest rates to stave off a U.S. recession. Oil prices have doubled in the past 12 months, while gold is up 44 percent.

    Avoid the dollar ``at all costs,'' Rogers, chairman of Rogers Holdings, said in a speech in Shanghai today. ``The best investments in 2008 are commodities and natural resources. Agricultural prices have much higher to go over the next decade. We have a shortage of everything, including seeds.''

    http://www.bloomberg.com/apps/news?p...d=aLr71mSZqOLI
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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    I think he is spot on about commodities and natural resources. However, I don't see as much up side to gold past $1k per ounce as other natural resources such as oil, coal, iron ore, etc. I would not touch (invest in) the dollar with a 10 foot pole.
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  3. #3  
    Goldwater
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    Quote Originally Posted by lacarnut View Post
    I think he is spot on about commodities and natural resources. However, I don't see as much up side to gold past $1k per ounce as other natural resources such as oil, coal, iron ore, etc. I would not touch (invest in) the dollar with a 10 foot pole.
    So you're not as crazy as I thought. Interesting.
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    Quote Originally Posted by Goldwater View Post
    So you're not as crazy as I thought. Interesting.
    I always put my money where my mouth is. No doubt about it.

    I think you stated that you thought that Obama was going to beat McCain. If true, you can load the wagon up and we can place a wager on it.
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  5. #5  
    Goldwater
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    Quote Originally Posted by lacarnut View Post
    I always put my money where my mouth is. No doubt about it.

    I think you stated that you thought that Obama was going to beat McCain. If true, you can load the wagon up and we can place a wager on it.
    It's not a sure thing, but yeah I think Obama has more of a chance and McCain is the outside guy, especially when there are more factors against him than against Obama when it comes to the actual vote.
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  6. #6  
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    Quote Originally Posted by Goldwater View Post
    It's not a sure thing, but yeah I think Obama has more of a chance and McCain is the outside guy, especially when there are more factors against him than against Obama when it comes to the actual vote.
    I think that is a nutty analogy because McCain will win the majority of independents and wind up with more Hispanic votes than GWB. McCain has a good chance of picking off 2 or 3 northeastern states like PA and NJ. If that happens, the ball game is over and McCain will be declared the winner by 11:00 pm CST.
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