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July 21, 2009
Interviewer: "You seem pretty adamant there will be a currency crisis in a year or two lots of vagueness in that prediction, not sure it's the Euro or the Dollar - but what makes you so sure it's coming?"
Jim Rogers: "Well who knows Susan. But throughout history when you've had these massive currency imbalances and debt imbalances and trade imbalances like we've had know, it's led to currency crisis, or least systemic crisis. The U.S. dollar is a flawed currency, the Sterling is a flawed currency. I haven't been vague, my vagueness to quote you is I don't know where it's going to start but I am convinced that we are going to have a currency turmoil in the next year or two or three, who knows when.
These currency crisis usually happen in the Fall, historically, and may start again in the Fall, and we're going to have some turmoil in the currency markets.
But again, it's not a radical statement. Look at the debt situation in the U.K. or the debt situation in the U.S. compared to the massive credit status in Asia. These are huge imbalances - something has to be done."
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