Wednesday, September 12, 2018

Billionaire and former Soros partner sees end of dollar as the sole reserve currency in next few years

Jim Rogers is a highly respected commodities trader who once partnered with George Soros to help build a powerhouse investment fund.  Now the billionaire who is living in Asia due to his belief that the future financial system will move over to China from the West stated on Sept. 11 that the days of dollar hegemony are coming to an end, and that the U.S. has just a few years remaining as the sole keeper of the global reserve currency.

“So, you would say why do you own it [US currency – Ed.] then? I own it because more turmoil is coming, people look for a safe haven in turmoil so they will go to the dollar. It’s not safe but they think it is.” 
The investor explained that the US currency is going to get higher but many countries like China, Iran, Russia and others are now trying to get rid of it. 
“In the next few years the American dollar is going to lose its position as the world’s reserve currency and the world’s medium of exchange,” Rogers said, adding that the world has always moved away from dominant currencies in the past as situations changed. – Russia Today
Roger's assessment of there still being a few years before the world completely rejects the dollar as the global reserve currency may actually be too rosy a forecast since de-dollarization has been accelerating over the past few months thanks in large part to U.S. policies of sanctions and dollar weaponization.

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