Thursday, 5 February 2009

Quotes of the Day

"... the markets have learned throughout the last few centuries; that you can always bet against the central banks and you will make money eventually. So, when a central bank says, "Don't you worry! The pound is gonna stay here or the ruble is gonna stay here; whatever. Ultimately, that has always failed if the fundamentals are not sound. And it will fail again. And everybody knows what the target is."
"Whenever a currency fails (throughout history), it has always started internally. The foreigners always get the blame because the politicians like to blame all their problems on foreigners 'cause they can't vote., and they are not there"...
"It always starts with the local people because the local people know best what's going wrong and they start moving out. The speculators (historically) have always joined in later."

- Jim Rogers

Bloomberg Interview
February 5, 2009

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