Jim Rogers: I'm Buying The Euro Even Though It's A Flawed Fiat Currency

Jim Rogers 616

Trading clearly isn’t a black-or-white affair for Jim Rogers.

You can buy something, even if it’s flawed, like a bad currency.

In fact, he has NAILED the current euro rally, having gone bullish in early June.

In an interview, he expounds further on his thinking.

Telegraph:

When no one wants something that should be a signal to buy it. Everyone has been selling the euro so I bought some, if only for the rally.

This doesn’t mean that I think European governments have got their act together. Far from it. But the euro could go up from a rebound rally so that’s why I’m interested.

But generally I think paper money is flawed. Nearly every currency in the world is flawed, the euro just happens to be less flawed than others.

I’ve also been buying the Danish Kroner and the Swedish Kronor but I’m not buying any more now.

The flipside of course, is that you can sell something even if it has great qualities. Everything has a price to buy or sell at, even fiat currencies, gold, AIG (AIG), or Apple (AAPL).

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