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BBC: On this question of the euro, no one else seems to want the euro at the moment, but you are thinking of buying it, have already bought it,
Rogers: When no one wants something, that should be a signal to you to think about buying it. If everybody sold it, the chances are its time to buy it now, at least for a rally, so yes I bought some recently.
BBC: So, are you buying them for the rally, or do you think the European government have got their act together and doing the right thing on Greece?
Jim Rogers: Let me get the rally first, and if I get the rally first, then I'll answer the rest of the question. We'll see. No, the European governments are not getting their acts together, not at all. But the euro can still go up if for nothing else but a rebound rally, and maybe because its less flawed than many other currencies.
The problem is these days, everything is flawed. All paper money is flawed, nearly every currency in the world.
BBC: But you have said with the situation with Greece, the best thing that could happen is for Greece to go bankrupt, and all the European countries are doing everything to prevent that.
Rogers on European credibility: "If Greece went bankrupt it would send the signal to the world, and to the rest of Europe - ok, we're not going to let people lie about their finance anymore, we are not going to let them spend money they don't have, we are going to run a tight ship. That means the euro would be an extremely sound currency, it would the old Deutsche Mark."
On Keynesianism: "You can't keep spending money you don't have because eventually the whole thing collapse in a house of cards."
On the transition to reality: "I am not suggesting it is going to be a good time, don't get me wrong. But if you wait 5 years from now, 10 years from now, when there is nothing you can do, and the whole system collapses, then you have real chaos in the streets, then you have Greece never recovering. In the US we have had states go bankrupt, cities go bankrupt, counties go bankrupt. It didn't end the US, it didn't end the US dollar." And on the flaws of our political system, which are just as applicable to our own president: "Greece is just trying to get through the next election, I am trying to figure out what's good for country, what's good for the world, what's good for Europe, what's good for the financial system."
