Tags: Rogers | Trade | War | Shooting

Jim Rogers: Trade War Will Lead to Shooting War

Monday, 10 Oct 2011 08:28 AM

International investor Jim Rogers says imposing trade sanctions on China could lead to war. “This could be terribly, terribly dangerous if we turn into a trade war,” Rogers told Russia Today.

“If America does put tariffs on the Chinese, the Chinese have various weapons at their disposal; they can stop buying American government bonds; they can sell American government bonds.”

“If they did that interest rates in America would go through the roof.”
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A trade war isn't good for the United States and not good for China, says Rogers, and could back leaders on both sides into a corner if the economics in the U.S. don’t improve.

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Jim Rogers
(Getty Images photo)
“Whenever people get slapped in the face, they always think they have to slap back,” he says.

According to Rogers, the standard reaction is in times of economic confusion is to run to the U.S. dollar. "It’s the wrong thing to do in my view, but I know they’re all going to do it, so I’ve done it [before the run]” Rogers says.

“Many people, wrongly in my view, wrongly, believe the U.S. dollar as a safe haven," Rogers says. "I own it.”

“I don’t own it as a safe haven. I own it because I just assume everyone else is going to run there. It could go much higher for a while.”

Rogers sees the U.S. in worse shape than Europe.

“The U.S. as a whole is the largest debtor nation in history,” he says. “And we have a lot of independent states, Illinois, California, New York, to name a few, which are in very dire straits, like Greece, Portugal and Ireland. So all of us in the West have serious problems.”

The Huffington Post reports that, although U.S. banks have limited their direct exposure to Greece, they have lent hundreds of billions of dollars to European governments and banks that may not be able to repay them.

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International investor Jim Rogers says imposing trade sanctions on China could lead to war. This could be terribly, terribly dangerous if we turn into a trade war, Rogers told Russia Today. If America does put tariffs on the Chinese, the Chinese have various weapons at...
Rogers,Trade,War,Shooting
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2011-28-10
Monday, 10 Oct 2011 08:28 AM
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