Wednesday, December 31, 2014

World central banks printing money

You just look around, look out the window, and you see that nearly every currency in the world is down a lot against the U.S. dollar except the Chinese Renminbi, and the Hong Kong dollar, of course, which is tied to the U.S. dollar. 

I don’t know if it’s somebody sat around, and plotted, and said, “Let’s have a currency war.” They just said, “What we need to do is print a lot of money,” without realizing it’s going to cause currency fluctuations. That’s what the Japanese are doing and other people, as well.

The consequences, Central Banks around the world printing a lot of money for better or for worse is that more people are going into the U.S. dollar, which I own too, although I have no confidence in the U.S. dollar long term.

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.