Jim Rogers,the Chairman of Rogers Holdings and author of several books,says the fundamentals are terrible for all the paper money except Canada's and Singapore's.This money has to come from somewhere.He's concerned about all countries.Nothing about the new rescue package is gonna get countries to cut their deficits enough to solve the problem.The European Union is ignoring their own rules.Even the present generation is gonna pay for this.
Mr.Rogers doubts if the Euro will be around in 10-15 years.It's continuing to weaken;be careful.The politicians all over Europe are using it as a scapegoat whenever there's a problem.It's a political currency,Jim Rogers believes.
The way things are going,people are gonna grab for something.The only thing they can grab for now is gold.It will certainly go up to 2,000 dollars an ounce by 2020.His children will own his gold,Mr.Rogers suspects.
Jim Rogers,a resident of Singapore,is a frequent guest on business television.Another Jim Rogers is the CEO of Duke Energy.
Duke Energy(DUK)
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