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Jim Rogers Says The Russian Ruble Is The Best Of A Bad Lot Of Currencies

Mr. Rogers, a noted commodity bull, who put significant amounts of his own money into shares in Chinese companies long, long ago, is now bullish on the Russian ruble:

When asked which currency holds the most promise now, Rogers says it might be the Russian ruble although "he's stunned" to hear himself say that.

"Russia has massive problems…that's why the ruble is so cheap," he notes. "There's great change taking place in Russia and whenever you can find a cheap place with massive positive change taking place you should buy all you can."

In the meantime, he advises investors not to sell their gold and silver coins. "There is no paper money in 2014 or 2015 that will be worth much of anything," he says.

Presumably he is saying that the ruble will go to heck and not go to the other place by then.

Rogers was presciently bearish on the Russian ruble in 1998 before the currency collapsed:

"Back in 1998, Jim Rogers would regularly appear as a guest on CNBC's 'squawk box'; when asked about his best investment idea for the year he kept repeating "sell the ruble". He was right, it was one of the best investment ideas of that fateful year.

Fifteen years later, will he be correct again? This is clearly not a low-risk bet, but I think its worth a few... dollars to be long with him.

Disclosure: I am long RSX, RSXJ, ERUS, RBL.