Jim Rogers : America will Collapse too

SS: So, if you’re saying that other players will move away from the dollar eventually, where does that leave the American economy?
 
Jim Rogers : The US has been the world’s reserve currency, has had the world’s medium of exchange and so far we’ve been able to do a lot of things because we can just print more US dollars. We have a huge balance of trade deficit; we have huge government deficits, because we can print more money. If there comes a time that we cannot print money, when the world will not just take US dollars because we say “here they are!” – then that cripples America in many-many ways. The Pentagon, the Defense Department of the US has already said that the deficit in the US is a major potential weakness from the military point of view. Just recently, the space people said “every country in the world has eventually collapsed” and the way America is going, we might collapse too. This is not me, this is the Defense Department of America, and this is the Space Agency of America saying these things. If you read history, Sophie, it’s true, it’s correct. When people do not have the money that they used to have – they’re limited in many ways. You cannot have as many soldiers, you cannot have as many airplanes, you cannot send ships all over the world, because somebody has to pay for it, and if you don’t have the money to pay for it anymore, you’re in trouble.- in a recent May 2014 RT interview

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.