Jim Rogers : The US Dollar is not a Safe Haven

The FED is keeping on debasing the U.S. dollar through its Q.E. and repos . Rogers Holdings Chair Jim Rogers said in a recent interview with Real Vision that the U.S. dollar is "doomed and its fundamentals are "horrible" — but instead of running for the hills, he's actually piling more investment in to take advantage of a coming last-gasp rally. "People would think the U.S. dollar is a safe haven; it's not. The fundamentals are horrible. Nobody in his right mind would buy the U.S. dollar, but I own a lot…because I'm not in my right mind. I'm assuming that the rest of the world is not in its mind either, and they're all going to buy it," Rogers told Real Vision in a recent interview. He predicts the dollar will eventually get overpriced and turn into a bubble, and then the veteran investor, who founded the Quantum Fund with billionaire George Soros in the 1970s, will sell. "I'm not very good at market timing, but I would expect it to be in the next period of turmoil, which will be coming in the next two or three years," he said. And, yes, he still thinks the "worst bear market in my lifetime is coming," he said, reiterating a point he's made several times, including May of this year. "No (I don't know when it will happen), I will just say it will be the worst in my lifetime. It has been over ten years since we had a serious bear market in the United States. I would suspect by the end of this year, or next year, it will start," Rogers said in May. "These things always start small, where people are not looking, and then they work to the major markets, and then you see them on the major news." Rogers' forecast shows he thinks the dollar will eventually be overpriced and turn into a bubble, which is exactly when he'll sell. "I'm not very good at market timing, but I would expect it to be in the next period of turmoil," he said, "which will be coming in the next two or three years." Rogers' forecast shows he thinks the dollar will eventually be overpriced and turn into a bubble, which is exactly when he'll sell. "I'm not very good at market timing, but I would expect it to be in the next period of turmoil," he said, "which will be coming in the next two or three years." There are a lot of headwinds for the dollar; Rogers contends because the U.S. is "the biggest debtor nation in the history of the world," he said. Meanwhile, countries like China, the world's second-largest economy that just so happens to be locked in a trade war with said debtor nation, Russia, and Brazil, are working toward finding a new international currency to buy. Rogers himself agreed with that particular move and said he himself would switch to the Chinese yuan and likely gold when he sees the end coming for the dollar's lofty reserve status. Rogers, who founded the ultra-successful Quantum Fund with George Soros back in the 1970s, doesn't currently own any U.S. stocks, saying he's mainly interested in Russian equities at this time. And, yes, he still thinks the "worst bear market in my lifetime is coming," he said, reiterating a point he's made several times, including May of this year. "No (I don't know when it will happen), I will just say it will be the worst in my lifetime. It has been over ten years since we had a serious bear market in the United States. I would suspect by the end of this year, or next year, it will start," Rogers said in May. "These things always start small, where people are not looking, and then they work to the major markets, and then you see them on the major news." The only reason the Federal Reserve has been in a position to print more money recently is simply that they are in a strong position to be able to do so as the world's leading reserve currency. If that changes, then the Americans won't have the possibility of just hitting the button and setting the printing presses rolling. That means the U.S. will be in no other position than to end up having to pay their debt back. All monopolies are bad. A US Dollar monopoly is also in that category. The power that comes with a monopoly (hegemony) is usually abused, and then the abused people rebel and create a war. Not good. Time for choice and diversity!!! A reserve currency is one of the scores of currencies held by central banks. It usually is the currency of the economic empire of the moment. This is much easier for Central Banks when they enter into the ledger the dollars received for their exports, and the money tourists spend in their cities against the dollars expended on imports and the monies spent by their citizens abroad. Nowadays, it's just a matter of telling a computer to transfer funds from one Central Bank to another. Perhaps crypto that can only be used by the Central Banks. No one ever decreed the eternal existence of a reserve currency. Reserve currencies will be buried and forgotten after the paradigm shifts, and the global economy is reset.










Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.









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