Jim Rogers plans to sell all his US dollar assets

Investment guru Jim Rogers is planning to sell all his US dollar assets. He believes that the 'man-made' US dollar rally is nearing the end and now is the best time to switch to other investments.

Jim Rogers not long ago said that this year the US dollar will have a big rebound because investors were forced to liquidate. At that time when interviewed by Bloomberg, he said that before that a lot of investors shorted the US dollar but now they have to unwind their positions which causes the rebound of the US dollar.

Now the rebound will be ending. Jim Rogers thinks that it will be like the pound not long ago. The world's first choice currency, the US dollar has started its long path of depreciation.

Jim Rogers said that he as an American is not willing to say but he has to say it. He said that in the coming days, weeks, months, he is ready to sell all his US dollar assets. During an interview on Tuesday, Jim Rogers said that he is now using the rebound of the US dollar to sell his US dollar assets.

Jim Rogers said that comparing to the Euro and Yen, the US dollar is not like before any more. He said that although he is not wiling to say it, but he said that in his lifetime, it will be not so good for the US dollar. He even estimates that like the pound, the US dollar will depreciate by up to 90% in the coming few years.

Expressing his disappointment for the US dollar, Jim Rogers is also negative about the US stock market. He said that Citi fundamentals were damaged, GM's fundamentals were also not good. What Jim Rogers is investing now is still on commodities because he feels that the fundamentals for commodities are better. At the same time he is also concerned about China and other financial bodies which have not shown structural problems such as consumer finance and commercial growth.

Jim Rogers on last Wednesday mentioned that now is the time not seen in 150 years where investors are forced to clear their positions and the economy may enter into the second great depression. Other then commodities, there are nothing else with good fundamentals. Because of the lack of investments, commodities and food will face shortages in the future. When the economy recovers, commodities prices will shoot up. Jim Rogers belived that the last bubble for the US, the government bonds, will burst any time. He warns people to think thrice before investing in those 30 year government bonds paying 4% interests.