Corruption. Our self appointed elites are so corrupt that they are about to piss away the most powerful man made weapon on earth. The US Dollar... All because of vanity and corruption. They will be eaten first.
I saw this “man” on The Glenn Beck show a few years back, as many as 7 years but my memory is shot. He was a smirking a hoe, talking about how China was the going thing. His family was there, and learning Mandarin. “Just the way of the world” he said. “You go to where the prosperity takes you” he said through his grin. Beck really didn’t give a response to his word, and seemingly left him to hang himself with his own words. It was about the same time as the Google guys were on, and talking about their goal “was to be the mind of god”.
I think he made his kids grow up in China. motocycled around the world.
When hasn’t Jim Rogers seen the end of the US dollar. Same swan song for decades from him.
“They have almost 50% of their reserves in currencies that are controlled by people who want to do them harm.”
That would seem to be a classic definition of a hedge.
Rogers’ early stuff is highly recommended. His writing and interviews on depreciation and CAPEX really helped me when I was getting started in investing 20 years ago. We are going through the same stuff today with the oil companies and miners. What he wrote then remains true today.
That said...I haven’t paid attention to anything he’s said since his motorcycle trip around the world with his girlfriend.
Foreign currency reserves of the nation are the “savings” of a nation, used to pay foreign debt, imports of necessary materials, or as a “rainy day” fund in case of economic trouble.
Seizing those savings is no different from seizing the savings of people who donate to protesting truckers.
You can do it ONE TIME, and then people will consider you a thief.
The US is being destroyed by arrogant, self-important, blind ideologues in Washington DC.
.
Rogers is a clown. I remember him making a bunch of predictions after the crash in 2008 and he was very wrong. If you want to lose money listen to him.
A good reporter might have asked him what percent of his personal assets were invested in Russia.
But no.
I wouldn’t listen to this tool.