My largest currency position on the long side has been in the US Dollar for the last 2 - 3 years. The US is terribly over-indebted country with the largest debt in the history of the world. The US dollar is not sound. But with a lot of turmoil coming, people think US dollar is a safe haven. What I expect to happen is that turmoil will get worst and the dollar will go higher—it is already over-priced—and may turn into a bubble. My plan is to then sell US dollar.
What I will buy, I don’t know—gold or the Chinese renminbi, if it might be convertible by then—who knows.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
