Monday, May 12, 2014

Why more people could move away from US Dollar

Jim Rogers on US sanctions on Russia and US Dollar

I would think that anyone using the US Dollar put up and take notice, because it is clear that if America does not like you, they have weapons at their disposal including blocking your US Dollar. 

I would suspect more and more people are saying "Wait a minute maybe I should use something else besides the US Dollar". So yes, in the long term there could be a continued move away from the Dollar away from fundamental reasons, but this gives a more impetus to move away sooner.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.