Jim Rogers: Will the US Dollar Disappear from the World's Stage

We talked, in a taped telephone interview at his home in Singapore, with Billionaire Jim Rogers, legendary commodities trader who picked the bottom of the commodities bull market in 1999. With George Soros, Jim Rogers co-founded the Quantum Fund in 1970.
Over the next decade, Quantum Fund grew by more than 3300 percent. Rogers retired, later a guest professor of finance at the Columbia University Graduate School of Business, and later around the world to explore new investment opportunities. Firsthand He is widely and often quoted in the media about his views on the commodities market. Bestselling author, investment biker, adventure capitalist and widely followed, Jim Rogers talks about what he now invest in. Stock Interview: Is the United States towards the same demise as previous colonialists: England, France, Netherlands, Germany and even previous world powers, such as Spain and Portugal?
Jim Rogers: If all the powers, which have risen, have finally peaked, plateau'ed, but then, we dropped the U.S. have certain things going on that would indicate that we are. I do not think anyone would dispute that we are a mature economy and a mature society. Whether we still grow or not is another question. I see many factors we are overburdened financially overburdened geo-politics, and overburdened military. I suspect the U.S. is in a plateau phase, and maybe even gone over the line and is definitely in a decline, on a relative basis.

Stock Interview: Who would replace the U.S.? Russia, India, China or Japan?
Jim Rogers: Not Russia. No, Russia is a disaster spiral down into a catastrophe. I see little hope for India replacing anyone. India is more likely to break in a few countries in the coming decades than it is to the world power. Japan has serious demographic problems. Japan's population is in decline for the first time in recorded history. Unless something happens demographic in Japan, Japan's major problems in the coming decades. They have huge domestic debt, that someone has to pay. With a declining population and internal debt is increasing, I think they have serious problems. The only one I can see on the horizon is China.
StockInterview: What then will become of the dollar?
Jim Rogers: The same thing that happened to sterling, similar to what happened with the guilder. You know, the golden used to be a major international currency. The peso is used to a major international currency. Do not you see people using guilders more to settle their international debts or finance their wars. They decline and species disappear from the world stage. I would definitely out of the U.S. dollar. It has been losing its status as the world's reserve currency, as the world's swap. We in the U.S. owe the rest of the world at least eight trillion - that's trillion with a T - and it is increasing at the rate of $ 1000000000000 every 15 months. There are serious problems in the U.S. with the U.S. dollar. I would not own U.S. dollars if I were you.
COPYRIGHT © 2007 by StockInterview, Inc. All rights reserved.
James Finch contributes to and other publications. StockInterview's "Investing in the Great Uranium Bull Market" has become the most popular book ever published for uranium mining stock investors.

No comments:

Post a Comment