By Jim Sinclair
The US dollar rally may end? The rally ended exactly where Dean Harry Schultz said it would at .8900 USDX.
Jim Rogers makes much too much of IMF gold. Where was he in the 70s? IMF gold will be sucked out of the IMF by other central banks, therein allowing them to get rid of the wilting US dollar.
There is no IMF gold. It is the members of the IMF’s gold. They must agree on all aspects.
IMF gold sales are a huge crock of BS the bears make a big deal of. It sound like a silver long and gold short spread talking its own case. That is my take.
Read a report on what Rogers says here:
By Chen Shiyin and Haslinda Amin
May 12 (Bloomberg) — The dollar’s rally is set to end in a “currency crisis,” investor Jim Rogers said, adding that he may bet on a slide in equities after nine weeks of gains.
The advance in the U.S. currency has been driven by investors covering their short sales, Rogers, 66, said in an interview with Bloomberg Television in Singapore. He may consider adding to his holdings of the yen and prefers the euro to the dollar or the pound, the investor added.
“We’re going to have a currency crisis, probably this fall or the fall of 2010,” Rogers said. “It’s been building up for a long time. We’ve had a huge rally in the dollar, an artificial rally in the dollar, so it’s time for a currency crisis.”
The dollar has climbed against all of the so-called Group of 10 currencies except the yen over the past 12 months, according to data compiled by Bloomberg. The U.S. currency was at $1.3592 per euro today from $1.3582.
Rogers joins “Black Swan” author Nassim Nicholas Taleb in avoiding the U.S. currency. Taleb told a May 7 conference in Singapore he preferred gold and copper to the dollar and the euro as the global economy faces a “big deflation.”
