Jim Rogers Forecasts Serious Turmoil in Currency MarketBullSource
Legendary investor Jim Rogers speaks with RT on the relationship between China, the largest creditor nation, and the United States, the largest debtor nation in history. “The United States is trying to drive down the value of its currency,” says Rogers. He believes this strategy sometimes works in the short term, but is a bad policy for the long term. Rogers argues that the US will not prosper by debasing the dollar. The investor predicts more crises in the currency market, happening as early as this Fall. He thinks this will force America to do something about the flawed US dollar. Rogers says the next crisis will be worse than the financial collapse of 2008. He remains bullish on the Chinese yuan and sees China continuing to open its currency down the road. Reprinted with permission from Bull Source. You can subscribe to Bull Source posts for free here.
May 16, 2011 Jim Rogers has taught finance at Columbia University's business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website. © Copyright 2011 BullSource
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