Tags: Rogers | Buy | Euro | Swiss | Franc

Jim Rogers: Buy Euro, Swiss Franc This Year

Thursday, 05 Jan 2012 11:41 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
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."

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Cantor Angers Conservatives Seeking Boehner's Replacement

Wednesday, 23 Apr 2014 10:31 AM

House Majority Leader Eric Cantor is getting a failing grade from the conservative caucus in Congress while positioning  . . .

RNC Calls Harry Reid Hypocritical, Habitual Liar

Wednesday, 23 Apr 2014 10:15 AM

Senate Majority Leader Harry Reid has been accused by the Republican National Committee in a no-holds-barred memo of bei . . .

Plouffe: Book's Account of Obama Gay Marriage Position Is Wrong

Wednesday, 23 Apr 2014 10:14 AM

Former Senior White House adviser David Plouffe says that author Jo Becker's account about how President Barack Obama mo . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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