While optimistic that the US dollar is an okay place to be in the short-term for technical reasons, Rogers says the currency is terribly-flawed over the long-term. He believes inflation is here, as prices are already going up.

“Prices are going to get worse because Mr. Bernanke and the people in Washington are spending gigantic amounts of money which we don’t have, and someobody has to pay for this. There’s no free lunch.”

Stocks, Rogers says, are rising because of the money being flooded into the market. He sees oil prices staying high or going much higher unless new oil reserves are discovered.