jim rogers: the uk is finished ..

Pound Slumps to Record Versus Yen; Rogers Says U.K. ‘Finished’

By Paul Gordon and Candice Zachariahs

Jim Rogers, chairman of Singapore-based Rogers Holdings, said the “U.K. is finished” and investors should sell the currency. Commonwealth Bank of Australia said there was a high risk of a cut to the country’s credit rating outlook and lowered its pound forecast. Prime Minister Gordon Brown authorized a 100 billion pound ($142 billion) bailout for banks.

“I would urge you to sell any sterling you might have,” said Rogers. “It’s finished. I hate to say it, but I would not put any money in the U.K.”

...Yesterday’s package to stabilize the financial sector comes after October’s 50 billion pound bank recapitalization program, which includes a 250 billion pound bank credit line....

U.K. debt may now be greater than forecast due to the additional bank bailout plans announced by the government since the publication of the government’s pre-budget report on Nov. 24, wrote Sydney-based Richard Grace, chief currency strategist at Commonwealth Bank in a research report today."

Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=agxlt5ZPtyLA&refer=home

My comment:

Competitive currency devaluations? Now let's see much, much bigger US stimulus under the Obama administration.
By the way, with interest rates the lowest in the UK in more than 300 years and a falling currency, where do the British invest?