We know that in the long-term, investor Jim Rogers thinks the dollar will be worth as much as toilet paper. But in the short term, he’s joined the ranks of those who think the beleagured greenback is in for a pop.
Reuters: Over the past couple of months I have been accumulating U.S. dollars … because there are too many bears,” Rogers told the Reuters Investment 2010 Outlook Summit in New York.
But he said the global financial crisis is merely in a temporary reprieve. Longer term, huge U.S. government debt issuance and a debilitated dollar will drag the world into a deeper crisis, he said.
There is a strong possibility that within the next three years or so that longer maturity U.S. government bond yields could reach double digits, as in the early 1980s, he added.