Experienced investor Jim Rogers, who founded the Quantum Fund with billionaire investor George Soros, has repeated his warning about the end of the US dollar's dominance.
“I know that the era of the US dollar will end. No currency can stay on top forever,” he said, adding that the only currency that has the potential to replace the USD as the world's reserve currency is the Chinese yuan.
○°Jim Rogers on the End of US Dollar Dominance
Experienced investor Jim Rogers discussed a variety of topics, including the end of the dominance of the US dollar and alternative currencies, in an interview with Nomad Capitalist published on October 1. Rogers is a former business partner of George Soros who founded Quantum Fund and Soros Fund Management.
While admitting that he has a lot of US dollars, Rogers emphasized:
“I know that the era of US dollar dominance will end. No currency stays on top forever – not more than 100-150 years, none in history.”
While repeating that he “can see that the era of US dollar dominance is coming to an end,” the renowned investor opined:
“I don't see any other currency right now that can compete except the Chinese currency.”
However, Rogers explained that the Chinese yuan is a “constrained currency,” stressing that “you can't just buy and sell it like you can with euros or dollars.”
He added that until China “truly opens up its currency,” the renminbi will not be able to replace the US dollar as the world's reserve currency.
Rogers noted that China has been slowly opening up its currency. “They did. They have been doing it for 20 years, but I don't think that's enough,” said this experienced investor.
“But it is the only currency I can see on the horizon that could one day compete and could end the dominance of the US dollar. "I hope something else comes up, but I haven't seen it yet," he added.
Rogers also raised concerns that the US is now the largest debtor in world history. “No nation has ever been as deeply in debt as we, the United States,” he said.
This experienced investor has long warned about the end of US dollar hegemony. In July, he warned that the US would suffer as the value and dominance of the US dollar would be further eroded, quoted by News.Bitcoin.
He also previously predicted the worst stock market of his lifetime and the US experiencing the worst recession he has ever seen.
