8 months ago
In a caller interview, Jim Rogers, who helms Rogers Holdings Inc. and was a co-creator of the Quantum Fund alongside George Soros successful the 1970s, shared his reflection of “various signs that thing is going to spell incorrect soon” wrong the U.S. economy, predicting an impending recession. Additionally, Rogers discussed the starring crypto plus bitcoin, emphasizing his skepticism towards cryptocurrencies evolving into existent money. He underscored that should they airs a existent situation to accepted fiat currencies, governments volition not tolerate it.
Renowned Investor Jim Rogers Expects a Recession – ‘I’m Afraid I See the Signs’
On Feb. 1, 2024, Jim Rogers engaged successful an interview with Michelle Makori, the pb anchor and main exertion astatine Kitco News, delving into discussions connected the U.S. economy, peculiar concern strategies, and concisely addressing bitcoin (BTC). Rogers shared with Makori his anticipation of a marketplace slump, contempt U.S. equities reaching highest levels unprecedented successful caller years. He firmly believes the forthcoming diminution volition surpass immoderate helium has witnessed passim his life.
“In 2008, we had a large problem, but the indebtedness everyplace has skyrocketed since then,” Roger said. “So the adjacent recession has to beryllium the worst successful my beingness due to the fact that the indebtedness is truthful overmuch higher present than it has ever been earlier successful my lifetime. Even China has a batch of indebtedness now.”
Rogers explained to Makori that the greenback has precocious been successful disarray, with galore inactive viewing cash, peculiarly U.S. dollars, arsenic a refuge. He further stressed:
The U.S. dollar is not a dependable currency anymore. We’re the largest debtor federation successful the past of the world. But everybody thinks it’s a dependable currency, and they deliberation it’s a harmless haven. So erstwhile problems come, radical contention to a harmless haven.
Bitcoin Does Not Pose a Threat to Government Currency – ‘It’s Just a Trading Vehicle’
In the 2nd portion of their conversation, Makori queried Rogers connected his views regarding bitcoin, particularly aft the U.S. Securities and Exchange Commission (SEC) green-lit a significant number of spot bitcoin exchange-traded funds (ETFs), recalling his earlier assertion that governments would prohibition bitcoin. “Well … my constituent conscionable to clarify, is that I don’t spot cryptocurrencies becoming wealth due to the fact that the governments bash not privation that competition,” Rogers emphasized.
The concern mogul added:
I don’t deliberation it’s a morganatic currency anywhere, but possibly successful El Salvador, but El Salvador lone has six cardinal people, truthful I don’t deliberation that’s going to alteration the world. I don’t ain immoderate cryptocurrencies. I ne'er have, I’m not abbreviated any, I’ve ne'er been abbreviated immoderate [cryptocurrencies]. I mean I privation I’d bought it erstwhile it was a dollar, I privation I’d bought IBM successful 1914, I privation a batch of things you know, looking backmost successful history.
However, Rogers maintained that should crypto assets airs existent threats to governments, they volition not basal for it. “That’s not the mode Washington oregon London oregon different places work,” Rogers quipped. To date, cryptocurrencies specified arsenic bitcoin (BTC) bash not airs a “threat” to state-issued currency, successful Rogers’ view, being simply a “trading vehicle.” As Rogers’ interrogation concluded, Makori inquired astir his stance connected central slope integer currencies (CBDCs), to which helium emphasized that governments, naturally, are precise fond of the concept.
“I afloat expect that eventually, currencies are going to beryllium connected the computer,” Rogers explained. “It’s overmuch much efficient, it’s cheaper, it’s amended for galore people, and governments emotion it due to the fact that arsenic you constituent retired they cognize everything you do. They’ll telephone you up 1 time and accidental ‘Michelle you’ve been drinking excessively overmuch java this month, don’t portion truthful overmuch java anymore … They’ll cognize everything you do, they’ll cognize everything we do, governments emotion that, I don’t peculiarly similar it, I deliberation it’s horrible. But governments person the guns. I don’t person immoderate guns. So they volition bash what they privation and I fishy and it should hap that currency wealth volition beryllium connected the machine someday.”
The president of Rogers Holdings continued:
It’s not bully for you and me, but it’s surely bully for the governments.
What are your thoughts connected Jim Rogers’ perspectives regarding bitcoin and cardinal slope integer currencies (CBDCs)? Share your thoughts and opinions astir this taxable successful the comments conception below.
English (US) 