THELOGICALINDIAN - Veteran broker Jim Rogers who cofounded the Quantum Fund with billionaire broker George Soros says that what is accident with the US dollar now is the end of the US dollar He explained that an all-embracing bill is declared to be aloof but in Washington they are now alteration the rules emphasizing Washington does not comedy fair anymore
Jim Rogers on the End of the U.S. Dollar
Renowned broker Jim Rogers discussed the end of the U.S. dollar and the approaching angle for cryptocurrency in an account appear by the Economic Times Sunday. Rogers is George Soros’ above business accomplice who co-founded the Quantum Fund and Soros Fund Management.
He was asked about the angle for the U.S. dollar and area he sees the dollar basis headed. “I own U.S. dollars partly because back agitation comes, bodies attending for a safe haven. They anticipate the U.S. dollar is a safe anchorage for celebrated reasons,” Rogers began.
However, the adept broker added:
“Now if Washington does not like you, they put sanctions on you and you cannot use U.S. dollars,” he stressed.
“So, abounding countries are starting to attending for a adversary — China or Russia or India, Iran, Brazil … some countries are starting to attending for a aggressive currency, and they should because Washington does not comedy fair anymore,” he continued.
Since Russia began its aggression of Ukraine, the United States as able-bodied as a growing cardinal of added countries accept been agreement sanctions on Russia.
Russia has about 16% of its affluence in U.S. dollars and 32% in euros. As billionaire broker Bill Miller afresh described: “They accept about 50% of their affluence in currencies that are controlled by bodies who appetite to do them harm.” Miller agrees with Rogers that added countries are starting to attending for another currencies to the U.S. dollar.
Rogers added:
“I do not apperceive what it will be yet. I achievement I am acute abundant to buy it back you acquisition it. I do not like adage it. I am an American but I do not like to see what they are accomplishing to the American dollar,” he opined.
Jim Rogers Still Concerned Governments May Outlaw Bitcoin and Other Cryptocurrencies
Rogers was additionally asked, “Can cryptos anytime be an another to the U.S. dollar index?” He replied: “Well it could be. Many bodies accept fabricated a lot of money trading crypto.”
He explained that crypto beasts say that cryptocurrency will be the new money. “I apperceive that every country in the apple is alive on computer money now, including the U.S.,” he acicular out. However, he said that the U.S. will not say it is new money.
Regarding cryptocurrency, he acclaimed that “Governments like control” and “Governments like monopoly.” The adept broker elaborated:
Rogers has warned that governments could ban cryptocurrencies on several occasions. He said it is the acumen he did not invest in bitcoin. However, in May aftermost year, he said he regretted not advance in BTC.
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