Wednesday, June 4, 2014
There is a continuing long-term move away from the US Dollar.
SS: Now, as an investor, what economic benefits are there for the EU and the US? What are they expecting out of this whole affair? I mean, how do you attract investors to the country when there is civil war raging between East and the West?
JR: Sophie, you’re asking extremely good question. I don’t see what was in it for Europe and the US, other than some kind of geopolitical game that bureaucrats and politicians like to play. I don’t see what the purpose of this was other than some kind of supposed chess game. I don’t see what America expected to get out of it. Ukraine has a lot of agriculture, but other than that… I mean, those agricultural products get sold on to the world market, so I don’t see why America tried to get so involved with Ukraine. It just does not make any sense to me, and as I said earlier, it seems to be hurting America now, rather than helping America, since the consequences have not gone the way they thought they would.
SS: But do you think the West has failed to isolate Russia politically and economically? Or is the West going to end up isolating Russia at the end?
JR: I don’t see that it has hurt Russia. Maybe there’s something I don’t know, but I don’t see that this has hurt Russia in any way at this point.
SS: What all of this means for the dollar? I mean, last week Russia’s economy minister told me that ruble and other national currencies will be used for trade to diversify risk. So where does that leave dollar?
JR: Again, I don’t particularly like saying this, because I’m an American citizen, and American taxpayer and American voter, but if you drive people away from the dollar… many people now must be saying “guys, if we have dollars, and the US decides that they don’t like us, they’ve going to put sanctions on us!” So more and more people would say “maybe I shouldn’t use the US dollar, maybe I shouldn’t have my money in US dollars.” At the same time, as you know, Russia and China are now going to trade with each other in their own currencies instead of the US dollar. More and more people are doing the same thing, they’re starting to trade in other currencies besides US dollar. This is just a continuing long-term move away from the US dollar. And, I am afraid, that US is pushing people away from the US dollar with our actions.- - in a recent interview with RT , Click here to watch the full 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%.
Who is Jim Rogers ?
James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry 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%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator