Jim Rogers to Bernanke: Hike Rates and Resign

NEW YORK (TheStreet ) -- Jim Rogers, renowned global commodities investor and author, says Ben Bernanke "is bringing disaster on all of our heads."

In the Federal Reserve's last FOMC decision, the central bank left key interest rates unchanged at 0% to .25%. The Fed pledged to keep rates "exceptionally low" for an "extended period" of time. The dollar index, which tracks the currency in relation to a collection of foreign units, is trading just above its 52 week low of $74.94. With cheap money and no end in sight, analysts fear that unchecked inflation will keep long term pressure on the dollar.

I recently asked Jim Rogers, normally a contrarian investor, what he thought of the steadily weakening dollar.

Will the dollar ever see a bottom?

Jim Rogers: The dollar is a terribly flawed currency. It's not good news. Now if it rallies I will sell more and if it collapses I will get out in a panic just like everyone else.

Will oil producing countries stop pricing oil in dollars as previously rumored?

Jim Rogers: It's no question that this will happen down the road. I mean whether this particular rumor has any basis in fact I don't have a clue. I mean I do know, they've all said repeatedly, you have to do something about the dollar. I mean China, Brazil, Russia....everybody is looking for some way to solve this problem of such a flawed currency....down the road oil and everything else is going to be traded in something else

What currency do you like right now?

Jim Rogers: Yen is my best right now. It's acting the best. I wouldn't buy it at the moment because it is going so up so much, maybe the Swiss franc, Canadian dollar, if I were looking for new currencies today, maybe the Singapore dollar. If you're really clever, you might buy something like the Sri-Lankan currency or some emerging markets currency."