Jim Rogers hasn’t given up on commodities, but he has given up on the U.S. Dollar. Jim said yesterday that he is using the current dollar rally to sell his dollar holdings.

“Commodity prices will go up whether governments impose controls or not as there is a serious supply-side problem.”

Jim doesn’t feel that governments and politicians understand markets and actually make things worse when they get involved. Jim, I think that’s an understatement. Further, Rogers feels that the U.S. Dollar will lose its place as the world’s reserve currency soon; and much of it has to do with oil. As for gold, Rogers said he will buy more if it gets cheaper and will buy any you want to sell him. And he is NEVER going to sell his gold.

“If you have gold, I will buy it from you. Gold is not something I plan to sell. Ever.”

Bailing out Fannie Mae and Freddie Mac was a mistake in Jim Roger’s mind. He thinks the government needs to let some of these institutions collapse; which will help clean up the economy so we can start moving forward again. Government intervention in my mind may reduce some short term pain, but I feel it will just draw out the global recession and delay recovery. Based on what came out of Paulson’s mind, Lehman Brothers may be the first one allowed to fail. We’ll see. In the mean time, precious metals stocks were on a tear yesterday. For the last several weeks it has been nothing but tears. Don’t be rattled and confused by those who intend just that for you. Get reliable information to grow your wealth here:
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