Oooh, here’s some hubris for you.
Just when the pound was notching up some stellar gains against the euro on the back of a larger than expected fall in the UK jobless claimant count, Jim Rogers — he of ultimate sterling weakness talk — was on CNBC Europe reiterating his position on the Great British Krona.
As CNBC’s website reported on Wednesday:
The UK pound’s problems will be caused by Britain’s “gigantic debt and huge trade deficit,” he said, adding that he doesn’t own sterling. The country’s two fortunes – North Sea oil and London’s place as a financial hub – are dwindling and there is nothing on the horizon to replace them. “Most Western currencies, most currencies everywhere are very suspect,” Rogers told “Worldwide Exchange.”
About that time burnt sterling fingers may or may not have been contributing to the following:
Jim Rogers, of course, is famously in London to take part in Vince Stanzione’s Global Financial Trading Day Seminar — and not to talk down the pound.
Related links:
Vince Stanzione would like to recall ‘Pound Could Collapse Within Weeks’ – FT Alphaville
Shock! Jim Rogers didn’t say sterling shall collapse! - FT Alphaville
The Great British Peso – FT Alphaville