The following 8 minute interview with Jim Rogers, co-founder of the Quantum Fund, is well worth your time. Rogers knows exactly what is going on when it comes to the U.S. dollar and the currency market, and hits the nail on the head with regards to the U.S. debt situation and where we are going.
A few quotes from the interview:
“The main problem is the U.S. is the largest debtor nation in the history of the world”
“It’s going to be the ruination of America”
“The United States is trying to drive down the value of it’s currency, it’s trying to debase it’s currency”
“The idea that the U.S. is going to prosper by driving down the value of our money is lunacy”
“Other countries are now looking for replacements for the U.S. dollar”
“Everybody knows that the U.S. dollar is now a terribly flawed currency”
“I would expect to see more crisis in the currency market, maybe as soon as this Fall”
“It’s going to be terrible for all of us”
From RT America
So, what can we do about it?
Talk about it with your friends and bring more awareness to the absurd amount of debt that this country is facing. Awareness sometimes results in action or preparedness.
Be aware that your U.S. dollar is worth less and less each day – by design. Consider alternative investments. Where possible, get out of the dollar (while leaving yourself a cushion of cash for emergencies). There are lots of things you can do, but this is not investment advice 😉
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