I am not selling my silver or dollars, says Jim Rogers
Source: BI-ME , Author: BI-ME staff
Posted: Wed January 5, 2011 12:58 am

INTERNATIONAL. Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers, said he would not buy silver right now as it has gone up so much so fast, but he is not selling any neither, and would buy dips.

Speaking in an interview with India's Economic Times (ET) published Monday, Rogers said: "I still own my silver. I am not sure if I would buy it today as it has gone up so much so fast, but I am not selling it and if it goes down, I will buy more silver".

Silver may outperform a lot of things, Rogers told ET. "Silver is still 40% below its all-time high. So silver has not been any sort of great bubble compared to perhaps some other assets we know. As a class between agriculture, energy and metals, I would rather own agriculture and in precious metals, I would rather own silver than gold," he added.

Replying to a question about the fate of the US Dollar, Rogers said. "As long as there are many-many skeptics, there is a good chance that the dollar will rally".

"I am not selling my dollars if it goes down, I might even buy more dollars, but longer term the dollar may be in terrible-terrible shape."

"It is a very flowed currency; I do not plan to own the US dollar 5-10 years from now at all and may be sooner, " Rogers told ET.

What currency could one day replace the dollar? "The only currency on the horizon that I see that will replace the US dollar is the renminbi," reckoned the legendary investor. 

"I own the renminbi," Rogers said adding that the Chinese have been opening the currency and "as it opens more and more, it will be a very attractive investment and it might some day be an international currency". 

Any investment tips for 2011? "I am selling short US government long bonds. Everybody seems to be optimistic. Even I felt unsure when Mr. Bernanke said he was going to buy them. I thought I was being foolish, but I am making a little bit of money right now," he said.

Last but not least, Rogers reiterated his investment mantra: Buy low and sell high.

In a CNBC interview, last month, the renowned investor warned that inflation has already started to creep up across the world and that will ultimately affect stock markets.

“Prices are going up, that’s called inflation....anyway that’s not good for stock markets.”

"They are printing money, it is causing inflation, inflation is going up, people are suffering, when people suffer, one of two things happens: Either the economy gets worse, or it works through to wage increases and this causes more inflation," Rogers stressed.


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