This should roil a few markets tomorrow: Jim Rogers is saying awfully harsh stuff about the pound. In light of the deepening recession in the U.K., plus the bank nationalizations and stimulus programs underway there, Rogers was quoted by Bloomberg tonight as follows:
I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the U.K.
[Update] All of this begs the question of what we are selling the dollar, the euro, the pound, etc. against (other than gold, of course). A wise-ass over on FT Alphaville suggests maybe long-lived kids toys.