Renowned Investor Jim Rogers Warns of US Dollar Dominance Ending — Sees Chinese Yuan as the Only Competitor

Veteran capitalist Jim Rogers, who co-founded the Quantum Fund with billionaire capitalist George Soros, has reiterated his informing of the extremity of U.S. dollar dominance. “I cognize that the epoch of the U.S. dollar is coming to an end. No currency stayed connected apical forever,” helium stressed, adding that the lone currency with the imaginable to displace the USD arsenic the world’s reserve currency is the Chinese yuan.

Jim Rogers connected End of U.S. Dollar Hegemony

Veteran capitalist Jim Rogers discussed a assortment of topics, including the extremity of the U.S. dollar dominance and alternate currencies, successful an interrogation with Nomad Capitalist, published connected Oct. 1. Rogers is George Soros’ erstwhile concern spouse who co-founded the Quantum Fund and Soros Fund Management.

While admitting that helium owns a batch of U.S. dollars, Rogers stressed:

I cognize that the epoch of the U.S. dollar is coming to an end. No currency stayed connected apical everlastingly — nary much than 100-150 years, nary successful history.

While reiterating that helium “can spot the epoch of the U.S. dollar is coming to an end,” the renowned capitalist opined:

I don’t spot different currency astatine the infinitesimal that tin vie but the Chinese currency.

However, Rogers explained that the Chinese yuan is simply a “blocked currency,” emphasizing that “you can’t conscionable bargain and merchantability it similar you tin euros oregon dollars.” He added that until China “completely opens its currency,” the renminbi volition not beryllium capable to displace the U.S. dollar arsenic the world’s reserve currency.

Rogers noted that China has been dilatory opening its currency. “They are doing it. They’ve been doing it for 20 years, but it’s not capable if you inquire me,” the seasoned capitalist continued. “But it’s the lone currency that I tin spot connected the skyline that someday tin vie with the U.S. dollar. I anticipation thing other comes on but I don’t spot it yet.”

Rogers besides raised concerns that the U.S. is present the largest debtor successful the past of the world. “No federation has ever been arsenic profoundly successful indebtedness arsenic we are, the U.S. is,” helium said.

The seasoned capitalist has been informing astir the extremity of U.S. dollar hegemony for rather immoderate time. In July, helium cautioned that the U.S. is going to endure arsenic the dollar’s worth erodes further. He besides antecedently predicted the worst carnivore marketplace successful his lifetime and the U.S. encountering the worst recession helium has seen.

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