Jim Rogers Comments on US Dollar
U.S. Dollar – Trade War With China
In 1973, Rogers co-founded the Quantum Fund with George Soros. During the following 10 years, the portfolio gained 4200% while the S&P advanced about 47%.The Quantum Fund was one of the first truly international funds.
Spot Gold Smashes Through $1,800
Arizona gold nugget
Spot gold as I’m writing this is over$1,826 per ounce! It was just about 10 days ago that I wrote that the spot gold price had just broken through $1700 per ounce!
Spot Gold prices hit new all-time highs after Morgan Stanley said the U.S. would grow only 3.9% in 2011, down from 4.2%. Growth expectations for 2012 were also cut, from 4.5% to 3.8%, and the investment bank delivered another blow by saying that the U.S. and Europe are close to a recession. Read more 
Gold vs Paper
gold nuggets
Fiat currencies never last. We are currently experiencing the worst economy in 70 years. Our balance sheets have ballooned and no one believes the debt can be repaid. Hence, confidence in fiat currencies has eroded and holders of those currencies are trading them for hard assets like gold. Its real money as opposed to paper or promise money.
Orderly Devaluation of the Dollar
Arizona gold nuggets
Without continuing to monetize the debt (QEIII etc), at this point I think we would head into a deflationary depression. Either way, our debt needs to be paid through austerity (deflationary), or defaulted through inflation.
Neither scenario is good, but the FED has made it clear they are trying an orderly devaluation of the dollar.
I just don’t understand why people are suprised at the actions in the precious metals given the state of the world’s reserve currency.
Direction For The Dollar, Silver, GDP, QE2 and Elections
Peter Schiff comments on the silver price jump, the weak dollar and more.
