Thursday, February 25, 2010

Jim Rogers: British Pound Collapsing

Jim Rogers on British Pound

According to currency and commodity expert Jim Rogers, the British pound is ready to collapse in the near future, saying it could easily be within the next several weeks.

In typical response to that reality, the Governor of the Bank of England, Mervyn King, said the central bank is ready to print as much money as needed to deal with the situation, which pushed the value of the pound down even more. Keynesian's still don't get that printing money and simulating the economy don't work, doesn't create jobs, or have a lasting impact. They're learning the hard way now that this is true.

As far as the British pound collapsing, Rogers added that this will make the great recession look like a small blip in comparison, and could come near the end of 2010.

Rogers and Marc Faber agree that a currency crash will come before the coming economic crisis.

Taking into consideration the figures from the U.S. Labor Department, Commerce Department and those on the British economy, and the idea that we're in a recovery is a joke.

Those who want to get a more in-depth explanation of what's happening will have a chance to on March 19, 2010, where Jim Rogers and Marc Faber will join British investor Vince Stanzione to talk on how to successfully invest in the coming recessionary environment.

Jim Rogers on British Pound

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