Jim Rogers says to buy the US dollar with a recession coming

Author: Adam Button | Category: News

Jim Rogers sees risk aversion coming but cuts yen bet

Jim Rogers is a folksy commodities-investing legend but he's starting to sound like a conspiracy theorist.

"If you look at the ... payroll tax figures [in the U.S.], you see they're already flat," he told Bloomberg today. "Don't pay attention to the government numbers, pay attention to the real numbers."

Rogers said he exited a bet on the yen last Friday and believes a period of risk aversion is coming. However, he doesn't see it helping JPY because of the Bank of Japan.

He sees a 100% chance of a recession in the next 12 months and believes the US dollar will rip higher.

"It might even turn into a bubble," he said of the greenback. "I mean, if markets around the world are crashing, let's just say that scenario happens, everybody's going to put their money in the U.S. dollar-it could turn into a bubble."

More at Bloomberg.

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