The always outspoken Jim Rogers has more to say about the British pound, which he said last week was “finished”. He said that it could reach parity with the dollar, although it could take many years. ( He’s not apparently shorting the pound):
“I suspect it’s going to make new lows — it may take a decade,” Rogers told Reuters, adding the pound had neared parity with the dollar before. “Why not again?” he said.
“There’s two big holes developing in the UK’s balance of payments — North Sea oil drying up and the financial industry. I don’t see anything replacing those two big holes.”
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Tags: Autos, Bankruptcy, Barack Obama, Currencies, Currency, Jim Rogers, Politics