Fusion: Druckenmiller is warning about a rise in US rates, due to uncontrollable entitlements here in the US. Will China reduce their holdings of US Treasuries? What is your take ?
Jim Rogers: If you keep giving stuff away, your debt goes higher and higher, and there is no one to pay the debt. The US is the largest debtor nation in the history of the world. Only half pay taxes – this is an absurd situation. All the debt is in the west while all the credit is in the east. Regarding China, yes, I wish they had already started reducing their exposure to Treasuries. - Jim Rogers interview with Fusion MarketSite
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%.
