Jim Sinclair’s Commentary

If you think the dollar is dog food then you have to love gold. The dollar is going to USDX .7200 and lower. Gold is headed to $1650.

If I am wrong it will be because my long term price objective is too conservative. Ignore today both in bullion and shares because we have many great days ahead in both.

Jim Rogers Urges People to Sell U.S. Dollar Holdings
By Aaron Pan and Paul Gordon

Nov. 15 (Bloomberg) -- Investor Jim Rogers urged people to get out of the dollar and says he expects to be rid of all his U.S. currency assets by summer next year.

``If you have dollars, I urge you to get out,'' Rogers said in an interview from Singapore. He is chairman of New York-based Rogers Holdings, formerly known as Beeland Interests Inc. ``That's not a currency to own.''

The dollar fell 9.5 percent this year against a basket of six major currencies as a housing slump slowed the economy and losses stemming from subprime mortgage defaults spread among U.S. banks. Rogers, who said last month he was shifting out of all his dollar assets, plans to buy commodities, Japan's yen, the Chinese yuan and the Swiss franc.

Interest rate futures traded on the Chicago Board of Trade show a 72 percent chance that the central bank will lower its target rate for overnight loans between banks to 4.25 percent on Dec. 11, its third reduction this year.