USD Seeing Its End Of Road, Washington Playing Unfairly: Jim Rogers

• Jim Rogers, a veteran investor, Quantum Fund’s co-founder alongside another investor George Soros, thinks USD is nearing the end.
• He elaborated that, a global currency is obliged to be neutral, but rules are shifting in Washington now, as it is playing unfairly.
• As per Rogers, cryptocurrency is the new money, as the crypto bulls say, but he is pessimistic regarding the fact that US will ever see it as new money.

USD On The Edge

Jim Rogers, a renowned investor, debated regarding USD nearing its end of the road and the future perspective for digital assets during an interview with a news agency.

Jim has previously worked with Soros, who was his business partner and co-founder of Soros Fund Management and Quantum Fund alongside.

Jim was asked to put his vantage point on United States Dollar, and what does he thinks about the movement of the dollar index.

He commenced by saying, that he possesses USD partially. As when the turbulence comes, folks will be heading for a safe house. They believe USD is a safe haven for legacy reasons.

Adding that what is occurring with the US dollar now is it is seeing its end of the road, as global currency must be neutral, and in Washington, rules are changing. He put some stress on the fact that, if folks aren’t on the like-list of Washington, it will put sanctions on your head, and you won’t be able to utilize Dollars.

He further said that several nations are eying for a contender, Russia or Iran or Brazil or India and so on, and some nations are pursuing competing currency, and it is legit as Washington is not playing fairly anymore.

Since Russia has invaded Ukraine, the US and other countries across the globe have started to put sanctions on its head.

Russia has roundabout 16% USD reserves and 32% in Euros. As Bill Miller, a billionaire investor elaborates, the nation has around 50% of currency reserves that are managed by entities looking to inflict harm to them.

Miller is aligned with Rogers that other nations are commencing to look for USD’s alternative. Adding that, the US is the mammoth debtor across the globe, so for basic as well as political causes, folks are eyeing for contending currency.

Authorities To Outcast BTC and Alts?

Jim was also asked if cryptocurrencies can ever become an alternative to USD? Of which he replied, they can be, as several folks have bagged a myriad of money via trading in this sector.

He elaborated that, cryptocurrency bulls say that it is going to be new money, adding that, every nation on the globe is operating on digital money now, the US included. However, he is skeptical regarding whether the United States will ever accept it as new money.

Concerning cryptocurrency, he pointed out that authorities want to control as well as a monopoly. He further explained, this is the way authorities operate, and he suspects that they will put regulations or tax or something on it as they need to be in power.

Jim Rogers alerted that, authorities may put a ban on crypto assets on numerous occasions. He states that this is why he didn’t make investments in the crowned currency. However, he has claimed to regret not investing in Bitcoin.

ALSO READ: Is the debate on Bitcoin vs Ethereum valid?

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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