See also: – Financier Jim Rogers denies saying pound will collapse (Market Watch):
“I did not know about this press release. I didn’t say those things,” Rogers told MarketWatch.com in a phone interview from Singapore Friday.
“I am on record as saying the U.K. has serious problems over the next few years and the pound sterling has serious problems over the next few years as well,” Rogers said in the interview. “I would say the same about a lot of currencies. All paper money is suspect these days.”
Rogers said he has no position in the pound, long or short, and that he holds no U.K. assets.
He said he is long the euro, however.
“I think the euro probably will survive this bout with the Greeks,” Rogers said.
Actually, Jim Rogers didn’t say that the pound will collapse in the very near future…
It was all made up by Vince Stanzione whose company put out the following press release as what appears to have been a publicity stunt:
FT Alphaville (Pic & Quotes):
Pound Could Collapse Within Weeks, Predicts Billionaire Financier Jim Rogers
February 25, 2010 – Press Dispensary – The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.
Rogers found the claim ‘outrageous’ and rushed to correct misunderstandings with the media. Meanwhile, the culprit, Vince Stanzione, says it was a mix up and that his company’s press release wasn’t meant to be sent out.
Regardless, it was great exposure for his ‘Trading Day Seminar’ either way… and a ray of attention for this self-described renaissance man:
. . . a self-made multi-millionaire based in Europe. Beginning aged 16 at NatWest Foreign Exchange in London, he quickly made his mark and then left to form his own company, since when he has been involved in mobile communications, premium rate telephony, interactive gaming, publishing and television and financial trading. He currently lives most of the year between Spain and Monaco and trades his own funds, mainly in currencies and commodities. He also teaches a small number of students and produced the best-selling course on Financial Spread Betting. Vince Stanzione is the author of ‘How to Stop Existing & Start Living’ and ‘Making Money From Financial Spread Trading’, is the Spread Betting Expert for Growth Company Investor and writes monthly columns for The City Magazine, Canary Wharf and Vicinitee Magazine.
Jason Bourne lives.
Vincent Fernando | Feb. 26, 2010, 9:01 AM
Source: The Business Insider
Tags: Economy, Jim Rogers, pound, scandal, U.K.