Renowned Investor Jim Rogers Warns of US Dollar Dominance Ending – In a recent interview with Nomad Capitalist, seasoned investor Jim Rogers, known for co-founding the Quantum Fund alongside billionaire investor George Soros, once again emphasized his belief in the imminent decline of the U.S. dollar’s dominance. He stated, “I know that the era of the U.S. dollar is coming to an end. No currency stayed on top forever.”
Rogers further contended that the Chinese yuan is the sole currency with the potential to supplant the U.S. dollar as the world’s leading reserve currency. During the interview, Rogers covered a range of subjects, including the prospects for alternative currencies, reflecting his extensive experience in the field. Jim Rogers, a prominent figure in investment circles and a former associate of George Soros in co-founding both the Quantum Fund and Soros Fund Management, provided insights into these topics.
While admitting that he owns a lot of U.S. dollars, Rogers stressed: “I know that the era of the U.S. dollar is coming to an end. No currency stayed on top forever — no more than 100-150 years, none in history.” While reiterating that he “can see the era of the U.S. dollar is coming to an end,” the renowned investor opined: “I don’t see another currency at the moment that can compete except the Chinese currency.”
However, Rogers explained that the Chinese yuan is a “blocked currency,” emphasizing that “you can’t just buy and sell it like you can euros or dollars.” He added that until China “completely opens its currency,” the renminbi will not be able to displace the U.S. dollar as the world’s reserve currency. Rogers noted that China has been slowly opening its currency.
“They are doing it. They’ve been doing it for 20 years, but it’s not enough if you ask me,” the veteran investor continued. “But it’s the only currency that I can see on the horizon that someday can compete with the U.S. dollar. I hope something else comes along but I don’t see it yet.” Rogers also raised concerns that the U.S. is now the largest debtor in the history of the world. “No nation has ever been as deeply in debt as we are, the U.S. is,” he said.
For an extended period, the experienced investor has consistently sounded the alarm regarding the impending demise of U.S. dollar dominance. Back in July, he expressed concerns about the United States facing adversity as the value of the dollar continues to diminish. Additionally, he had earlier foreseen the most severe bear market in his lifetime and anticipated the United States entering into the most significant recession he has ever witnessed.