Short US Government Bonds ‘Right Now’: Jim Rogers
With the Federal Reserve and now Bank of Japan printing massive amounts of money, billionaire investor Jim Rogers told CNBC's "Closing Bell," he is shorting U.S. government debt.
"It's all artificial what's going on right now," Rogers said. "The Federal Reserve is printing money as fast as they can. The Bank of Japan said 'we're going to print unlimited money.'"
He called the Fed's monetary stimulus "outrageous."
All that money printing has Rogers bearish on U.S. Treasury debt. He said he's shorting government bonds and that if it's indeed the end of the 30-year bond bull market, those shorts will pay off. In particularly he said it's time to short long-dated U.S. government debt.
"Stocks may go up too, but I don't know how this can last too long," he added.
While Rogers is negative on the U.S. stock market and said he's been short Apple since the fall, he sees better opportunities in Japan and Russia.
The Bank of Japan's money printing is not good for the world he said, but it's making markets go up. "The yen is collapsing, but the stock market is going through the roof," Rogers said.
And while the Federal Reserve is also printing money through its quantitative easing program, Rogers noted that the U.S. equity market is flirting with all-time highs, while Japanese stocks are down 75 percent from their all-time high.
"I hope I'm buying low and selling high," he said. He wondered why the Japanese market couldn't double even while the yen collapses while the Japanese central bank continues to print money.
Rogers mentioned the WisdomTree Japan Hedged ETF as a currency-neutral way to play Japan.
He also likes Russia for the first time in his career. Russia is changing but the market remains unloved. Rogers is buying the bonds, the currency and stocks.