Tags: jim rogers | dollar | safe | haven

Jim Rogers Rejects 'Doomed' US Dollar as Safe Haven

Jim Rogers Rejects 'Doomed' US Dollar as Safe Haven
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By    |   Tuesday, 08 October 2019 09:22 AM

International investor Jim Rogers reportedly says “doomed” dollar fundamentals are “horrible,” but he’s buying it to prepare for the U.S. currency’s last-gasp rally.

“People would think the U.S. dollar is a safe haven, it’s not. The fundamentals are horrible,” the chairman of Rogers Holdings told Real Vision in a recent interview.

“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,” said Rogers.

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, MarketWatch explained.

“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.

He doesn’t hold out much hope for the American economy because while he claims the U.S. is “the biggest debtor nation in the history of the world,” countries such as China, Russia and Brazil are seeking an alternate international currency.

Rogers says he’ll switch to the Chinese renminbi and/or gold when he senses it’s over for the dollar, MarketWatch said.

For now, he doesn’t own any U.S. stocks, and is only really interested in Russian equities. That is as he’s still predicting the “worst bear market in my lifetime.”

To be sure, Rogers isn't alone in warning about the American currency's future.

"By controlling various payment systems, hyperinflation, and bank runs (among other things), the U.S. has been able to maintain currency dominance for decades," Newsmax Finance Insider Peter Reagan recently explained.

"But now it appears that time may be passing," Reagan recently wrote in his Newsmax Finance column.

"Despite any blind optimism that might be remaining, there are a host of countries that are trying to end the U.S. dollar's dominance in global markets," he wrote.

"If the dollar can't hang on as the dominant global reserve currency, it would have huge economic ripple effects."

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International investor Jim Rogers reportedly says “doomed” dollar fundamentals are “horrible,” but he’s buying it to prepare for the U.S. currency’s last-gasp rally.
jim rogers, dollar, safe, haven
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2019-22-08
Tuesday, 08 October 2019 09:22 AM
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