Not so, pointed out astute reader Sibbie via email, citing a recent Rogers interview in BusinessWeek:
Q: How much of the runup is being driven by U.S. deficits and the weakening dollar?
Jim Rogers: A huge amount is about not just U.S. deficits, but all deficits. Deficits are going berserk nearly everywhere. Throughout history, printing money has led to weaker currencies and higher prices for real assets. And there are many, many pessimists about the dollar, including me. So many pessimists that I suspect there's a rally coming. I have no idea why there should be, but things do usually rally when you have this many bears at the same time. I've actually accumulated a few more dollars. I mean, it's not a significant position, but I do own more dollars than I did a month ago. And we'll probably also have a gold correction because there's so many bulls on gold.
Nice find, Sibbie, thank you!
You can read the rest of Jim Rogers' interview with Maria "Money Honey 1.0" Bartiromo here.
Just to clarify my position - I also believe we're heading for higher inflation...just a little later than many pundits think, because we have some massive deflationary forces to work through in the short term. Here's my take on inflation/deflation in the near term.
Related reading: Jim Rogers' latest thoughts on Commodities, Treasuries, and the Economy