[SIZE=7]US has largest debt in world history, dollar to lose status as No.1 currency – Jim Rogers[/SIZE]
Published time: 24 May, 2018 11:17https://cdni.rt.com/files/2018.05/article/5b069719fc7e93f8288b4584.jpg© Thomas WhiteReuters
The US dollar is becoming less appealing for investors as American debt continues to soar and the greenback is printed to cover it, investor Jim Rogers said at the St. Petersburg International Economic Forum (SPIEF).
The American currency will lose the status of main reserve currency much sooner than 2030, Rogers said at the Valdai Club’s discussion session, held as part of SPIEF.
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“Dollar is going to be higher than now because the turmoil is coming. Then, it is going to be overpriced and people will look around and say, ‘America’s got the largest debt in the history of the world. It’s printing money as fast as it can,’” the investor said.
People will look at what Brazil, Russia, China, India, Iran and other developing countries are doing, Rogers said. “They are forming a competing currency right now,” he added. So, the dollar alternative will come from the countries that “have been bossed by the US, and they don’t like it, but have enough power to do something about it.”
Rogers went on to say that organizations such as the International Monetary Fund and the World Bank “have never been right about anything” and should be abolished, since they have been politically dependent on the United States for decades.
Speaking separately to RT, the businessman said that sanctions and trade wars are the biggest threat to the world’s economic stability. “The world has learned throughout history that closing off is not good, opening up is good,” Rogers said.
Turkey moved its gold reserve from New York to Basel Switzerland. As a result uncle Sam deep state is hammering their currency. People are seriously losing money as a result.
History teaches us that there is no great empire/superpower that lasts forever. America will eventually fall from grace at some point in the future but not in our lifetime. Its decline has already slowly started with the orange fellow that the Republicans sent to the Whitehouse.
History is cyclic every great civilization eventually fell ! America is no exception it may not be in our life time but it is inevitable may be not a quick collapse but most probably a slow decline.
So someone walks to NCPB in Rift Valley delivers 222,000 bags of maize, he is paid over 100M; takes a flight to Kisumu and delivers 60,000 more and gets paid.Fellow then goes home, turns on the Tv to watch farmers complain about lack of market for their five bags of maize.
And u have the audacity to say USA is losing money while back here at home our own farmers who trusted the jubilee government u like praising are going home empty pocket with maize still in their silos. The irony. SMH
Crypto is still the future
Inaanguka iende wapi? Saa hii tu si utakimbia udownload ama ununue movie ya hollywood na sio ya China ama Russia? Can’t help yourself. And moving gold valued at $25 billion is not the end of the world. Germany also moved gold from England.
Hata watu wakatae kuskia aje, hii kitu ni Mungu. The forefathers of the U.S. walikuwa Christians and put God everywhere, in their state Constitutions and even on their money. Now you take God out and you perish.
hata hizo empire mingi mnasema kama Rome, it was trying to compete with God. Killing Christians and what not. Walikanyagwa kukanyagwa. (hehe wacha tu atheists waone hii story…)
jim rogers is a scaremonger. No surprise he is working for RT News.
https://www.standard.co.uk/business/the-scaremongers-selling-us-short-6918848.html
Your argument is irrelevant and stupid
Siku ile nyani akifa miti yote huteleza. Labda some states will want out of the union. Labda America will be nuked by someone. Labda ni biashara itaharibika. Something will give, definitely. Europe is already reconsidering their relationship with America. That is thanks to Trump and his foreign policy madness.
Labda labda labda…
Well with all due respect sir, you can as well also go ahead and fuck yourself!
Well spoken, gentleman… ……!
They will use their time tested strategies. Iran is already in the cross hairs. An old article but still relevant
[INDENT]Since printing paper money is nothing short of counterfeiting, the issuer of the international currency must always be the country with the military might to guarantee control over the system. This magnificent scheme seems the perfect system for obtaining perpetual wealth for the country that issues the de facto world currency. [/INDENT]
[INDENT]-[/INDENT]
[INDENT]There was no public talk of removing Saddam Hussein because of his attack on the integrity of the dollar as a reserve currency by selling oil in Euros. Many believe this was the real reason for our obsession with Iraq. I doubt it was the only reason, but it may well have played a significant role in our motivation to wage war. Within a very short period after the military victory, all Iraqi oil sales were carried out in dollars. The Euro was abandoned.[/INDENT]
[INDENT]-[/INDENT]
[INDENT]In 2001, Venezuela’s ambassador to Russia spoke of Venezuela switching to the Euro for all their oil sales. Within a year there was a coup attempt against Chavez, reportedly with assistance from our CIA.[/INDENT]
[INDENT] Why the US Hates Iraq, Iran, and Venezuela - LewRockwell [/INDENT]