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Jim Rogers has been banned from U.S. television By Daily Crux Editor Brian Hunt: It's getting harder and harder to find Jim Rogers on mainstream U.S. television... mostly because he blasts U.S. policies every time he speaks. They deserve to be blasted... but free market, pro-responsibility beliefs don't sell these days. Big networks are scared to death of presenting any view that doesn't fawn over Washington D.C.'s asinine socialism. The latest from Rogers and fellow U.S. bear Marc Faber: A currency crisis is coming... oil could shoot to the moon because of production declines... and the stock market is heading south very soon. Read full article... Markets set to plunge again, says Jim Rogers Source: BI-ME , Author: BI-ME staff Posted: Wed May 27, 2009 6:54 pm INTERNATIONAL. Investment gurus Jim Rogers and Marc Faber agree on one thing. They see a major correction looming in equity markets with a currency effect for the US, since the current rally has been mostly based on printed money, a kind of 'reverse Robin Hood policy' of governments, to steal from the peasants to give to the rich.   As with Faber, Rogers is mostly to be seen being interviewed on CNBC Asia or Europe, since their views are to put it mildly, somewhat negative on the US Dollar and the prospects for green shoots in the US economy. Legendary investor Jim Rogers told CNBC on Wednesday he is not short or hedged in anything at the moment, but buying Japanese Yen. The next crisis in his eyes is in currencies which makes sense since sovereign states have taken much of the bad debt from the banks and piled them onto their own balance sheets. The stock market may hit new lows this year or the next as the current rally has been largely caused by the money printed by central banks and fundamental problems remain unsolved, he said. His views echo those of renowned bear Marc Faber, who told CNBC last week that the rises in share prices did not mean the world was embarking on a path of sustainable economic growth. "I'm not buying shares if that's what you mean. Not at all," Rogers told Squawk Box Asia. Governments have not solved the essential problems that caused the crisis but instead they "flooded the world with money," according to Rogers. Trying to solve the problem of too much consumption and too much debt with more consumption "defies belief" and will not work, he said. The price of oil is also likely to remain high despite the fact that the recession is taking its toll on demand, he said. "You know supplies worldwide are declining at the rate of anywhere from 4% to 6% a year, yes, demand is down at the moment but in longer term, unless somebody discovers a lot of oil very quickly, the surprise is going to be how high the price of oil stays, and how high it eventually goes," Rogers added. The next financial meltdown will be in the currency markets, as central banks around the world have been printing money, giving the appearance of massive government intervention to weaken their currencies, legendary investor Jim Rogers, Chairman, Rogers Holdings, told CNBC on Wednesday. "At the moment I have virtually no hedges, I suspect it is going to be the next problem, big crisis will be in the currency markets, I'm trying to figure out what to do there," Rogers said. "If I am right, you're going to see a lot of currency problems in the next decade or two," Rogers said.  Governments around the world are doing their best to destroy currencies, many currencies in fact. And people need to understand that; if they don't understand it now, they're going to find out, they're going to find out the hard way," he added. Marc Faber agrees that we will see a correction unfold in the equity markets. Faber said: “In general, the markets were very oversold on 6 March 2009 and there were some favourable technical divergences [which resulted in the subsequent rally].” “When the S&P made a new low, many markets and stocks were higher than they were in October-November. That means many stocks had entered bull markets including Asian stock markets,” said Faber, pointing out that now, most stocks were up by more than 100%. " “A number of stocks above the 50-day moving average reached 90% the other day, which signals an overbought position in US. I expect a correction to unfold. If the correction is a resumption of the bear market where we will make new lows or is still a correction, that still remains to be seen,” he said. More Jimmy Rogers: Interview with Jim Rogers produces AWESOME rants Warren Buffett and Jim Rogers: Get ready for inflation Jim Rogers' No. 1 way to prosper in a weak, 1970s-style economy