What I suspect will happen is that America will continue to cut back a little bit but, eventually, it is going to have an effect on the market and then America will start printing money again. But in the meantime, when America continues to cutback, Europe is coming into the market and printing more.
On the other hand, Japan and the UK are not cutting back. So, if the US cuts back for a while before it returns, Europe, it seems, will increase its money print. In that context, it is better to buy US dollars rather than euros at this point. I don’t think any of these banks will stop printing permanently because when things start going wrong, they’re going to panic and print more.
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.