Jim Rogers: Brazil wants to compete with the US dollar

Jim Rogers: Only a Russian/Chinese/Brazil joint-currency can battle dollar dominance
“Brazil wants to compete with the IMF, the World Bank and the US dollar,” as do all participants in the BRICs conference, Rogers said when speaking on this RT interview. “Brazil, China and Russia could easily put something together to compete with the US dollar,” Rogers said, leaving out one component of the BRICs alliance. “The US dollar is a terribly flawed currency. I’m an American. I hate to say that. But the US has serious problems, the world has serious problems. We need something else” and potentially a competing world currency could be developed. If this were to occur, the US and its economy might be put in a straight jacket as the ability to engage in large deficit spending could be curtailed.The presidents of Russia and Brazil have met ahead of the BRICS Summit. Vladimir Putin and Dewma WHO-sseff were present as some of the two countries' largest corporations signed agreements to deepen the economic ties between the two. Corporate investor Jim Rogers tells RT that the BRICS members are capable of challenging the United States' financial dominance.



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%.