Tags: Rogers | Buy | Euro | Swiss | Franc

Jim Rogers: Buy Euro, Swiss Franc This Year

Thursday, 05 Jan 2012 11:41 AM

International investor Jim Rogers, often a critic of currencies, says investors should buy the euro and Swiss franc in 2012 because the continent's leadership will navigate their economy out of the storm.

"I suspect (German Chancellor Angela Merkel) and that crowd will do something to make us feel better," Rogers tells CNBC.

The European Central Bank should not step in and buy government debt directly from debt-ridden governments like Greece or Italy, which would turn investors away from European markets in general.
_________________________________________________________

‘This Is Your Bible’ — Dow Jones
Millions have already heard the prophetic warnings of a 2012 economic meltdown. Will you be prepared? Watch the Aftershock Survival Summit Now and See the Evidence.

_________________________________________________________

European Central Bank officials have said they won't resort to such a policy, known as quantitative easing, in that it would bring about inflationary pressures.

"The market will start saying: 'Come on guys, we have had enough, this is shoddy and we're not going to play anymore,'" Rogers says.

jimrogersnmax200.jpg
Jim Rogers
(Newsmax file photo)
In 2011, Rogers advised buying the euro on sentiment the currency will survive.

Despite the ongoing debt crisis and the chaos it has inflicted on equities markets worldwide, the euro held up well against the dollar in 2011, although it did begin to slide as the year came to a close.

In November and December, the currency hit a fell to a 10-year low against the yen and a one-year low against the dollar.

The number of short positions in the euro outweighed long positions by a record 127,900 contracts by Dec. 27, up from 113,700 contracts the previous week, the Financial Times reports, citing U.S. Commodity Futures Trading Commission data.

The value of the contracts was not disclosed.

"When we see extreme short positions like this it normally means a short-term correction for the euro," says Carole Laulhere, a strategist at Société Générale, the Financial Times adds.

"In the longer term the economic fundamentals are more important, but those are also weakening."

© 2015 Moneynews. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Nevada's AG Joins Suit Against Obama's Deportation Relief for Illegals

Wednesday, 28 Jan 2015 23:21 PM

Nevada's newly minted Republican attorney general has joined a multistate lawsuit seeking to block President Barack Obam . . .

Research Institute: NKorea May Be Trying to Restart Nuke Program

Wednesday, 28 Jan 2015 23:16 PM

North Korea may be attempting to restart its main nuclear bomb fuel reactor after a five-month shutdown, a U.S. research . . .

Karl Rove: GOP Should Fight Hillary on Foreign Policy, Jobs, Govt Debt

Wednesday, 28 Jan 2015 22:04 PM

With former Secretary of State Hillary Clinton the likely presidential nominee of Democrats in 2016, GOP strategist Karl . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved