Jim Rogers Mentioned Currency Crises Soon
Jim Rogers, Quantum Fund founder and former partner with George Soros, told Russia Today he forecasts turmoil in the currency market within two years.
“Well, I would expect to see more crises in the currency market, maybe as soon as this fall, or certainly by the fall 2012-13,” Rogers said. “And you’re going to see serious turmoil in the currency market, which is going to force the world and force America to do something about it.”
The legendary 68-year-old commodities trader doesn’t foresee a smooth end to the U.S. dollar as the premiere reserve currency, noting in previous interviews that Congress’ inaction to cut spending or raise taxes to stem the tide of $1.6 trillion annual budget deficits is evidence of the policy of kicking the fiscal can down the road.
“2008 was bad,” Rogers concluded. “But wait until the next time around, it’s going to be even worse.”
