Jim Rogers, co-founder of the Quantum Fund alongside the esteemed billionaire George Soros, has once again shared his perspective regarding the U.S. dollar's future. He emphasized that no currency has maintained its top position indefinitely and sees the Chinese yuan as a serious contender.
In a discussion with Nomad Capitalist aired on Oct. 1, Rogers delved into various financial topics, including the potential shift in currency dominance. Even though he holds a significant amount of U.S. dollars, Rogers highlighted:
"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."
Acknowledging the impending shift in the global financial landscape, he commented:
"I don’t see another currency at the moment that can compete except the Chinese currency."
Rogers pointed out the yuan's current limitations, emphasizing its status as a "blocked currency" not as freely tradable as its counterparts like the euro or dollar. For the yuan to truly emerge as a dominant force, China would have to ensure its global accessibility.
Rogers also observed that China's efforts to liberalize its currency have been ongoing for the past two decades. He believes that while progress has been made, more is needed for the yuan to seriously contend with the dollar.
Additionally, Rogers expressed concern over the U.S.'s current financial state, highlighting its position as the world's largest debtor. He has consistently raised alarms about the U.S. dollar's trajectory. Earlier warnings from him include the potential erosion of the dollar's value and predictions of significant market downturns and economic challenges for the U.S.
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