Wednesday, November 29, 2023

Jim Rogers, a well-known investor, predicts the demise of the US dollar.

Jim Rogers is unhappy with the US’ approach to the dollar. He is a veteran investor. He must know. He was the co-founder with George Soros of the Quantum fund.

His unhappiness stems from his belief that the US is no longer playing fair. Any international currency is meant to be neutral. He feels that the US is not. It is changing the rules. The US dollar is meant to be a fall back option when trouble comes calling.

An alternative currency

Rogers believes that it is unfair of the US to impose sanctions on a particular country which can then not use dollars. Other countries have already started looking for alternatives. One of the currencies of China, Russia, India, Brazil, etc might emerge as the alternative.

He favors the emergence of an alternative. Rogers believes that the rules should be fair and not arbitrary.

This issue is currently in the news because the US and many countries in Western Europe have sanctioned Russia. The sanctions are a result of the conflict in Ukraine.

Russia’s foreign exchange reserves are in foreign currencies – 16% in US dollars and 32% in Euros. Fellow investor Ben Miller agrees with Rogers. Russia holds nearly 50% of its reserves in currencies of nations that are antagonistic to it. Miller also agrees with Rogers that there is a need for an alternative currency to emerge.

Added to this is the fact that the US is the largest debtor in the world. So, the emergence of an alternative currency makes a lot of sense. Rogers said that he did not not have preferences about which currency should emerge as the alternative.

Rogers added that crypto has the potential to be the alternative. However, he was skeptical because governments like control and they have the power to ban crypto to promote fiat currency.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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