Jim Rogers: British Pound could collapse within weeks

  • metta

    Posts: 39134

    Feb 27, 2010 10:04 AM GMT
    Jim Rogers: British Pound could collapse within weeks

    http://www.digitaljournal.com/article/288143
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    Feb 27, 2010 3:45 PM GMT
    The article sounds a little sensationalistic to me .. however it does end:
    http://www.digitaljournal.com/article/288143“It sounds like a lot of doom and gloom. But it doesn’t have to be. With foreknowledge, experience, advice and skill, even the steepest downward slide can be turned to advantage. Recession can be just as much a source of wealth as growth.”
    In other words .. buy my book to escape doom .. It sounds like someone is trying to sell something to me .. the question is .. if the pound is going to collapse .. why is he trying to accumulate it through seminars and books?
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    Feb 27, 2010 3:53 PM GMT
    The Quantum fund was previously responsible for bringing down the pound (or rather being the catalyst for bringing it down - it was overvalued at the time)... both he and his former partner George Soros are known for rather provocative statements and controversial views.

    To their credit though, they don't get invested in/married to their positions so if they realize that it's wrong, they change them quickly and seem to consistently come out making a good deal of money (particularly Soros).
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    Feb 27, 2010 4:15 PM GMT
    Right, opinion is not analysis and profiteering is not economics.

    This is just horse shit; the equivalent of incitement.

    This is the guy who yells fire in a crowded theater and then sells tickets to the exit door.

    E V I L
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    Feb 27, 2010 7:39 PM GMT
    UrsaMajor saidRight, opinion is not analysis and profiteering is not economics.

    This is just horse shit; the equivalent of incitement.

    This is the guy who yells fire in a crowded theater and then sells tickets to the exit door.

    E V I L


    Meh - When it comes to this stuff, "evil" is quite subjective - I mean look at the position the British have put themselves in - they basically have exhausted their financial position and it's not as if people haven't pointed it out to them repeatedly in the past. So who's evil? The people who allowed this to happen or the guy who is pointing it out?

    The analogy doesn't quite work - since all Rogers is doing is pointing out that there is a fire - he may make money by betting that there is a fire (though it doesn't make this clear in the article) or he might not as he also points out it's not inevitable either.

    Further, as far as Jim Rogers (I like him over Soros - though Soros is currently betting against the Euro - http://www.dailymail.co.uk/news/worldnews/article-1253791/Is-man-broke-Bank-England-George-Soros-centre-hedge-funds-betting-crisis-hit-euro.html)