From the S&A Digest:

Jim Rogers told CNBC inflation is already much worse than the government is reporting... "There's no question the U.S. is vulnerable to hyperinflation down the road or certainly the inflation we saw in the 1970s. I would expect that to come back in the foreseeable future, certainly in the next few years," he said.

"The true inflation rate in America? It's certainly at least 6% or 7%. The U.S. government lies about it, as you know. Everybody who shops knows that prices are up, everybody except the U.S. government, and I wish we knew where they shopped so we can shop there too and get good prices."

Rogers said the Fed's money printing is destroying the dollar and he is "extremely worried" about the long-term prospects of the currency. He recommends buying Asia, but said he isn't currently buying anything due to the recent rally.

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