Monday, November 13, 2017

Governments would like to get rid of cash

Jim Rogers speaks on the phone on the Stansberry Investor Hour

"Governments don't like cash because it's expensive and because they can't control you as much. Everyone's going to get rid of cash. Governments could issue their own cryptocurrency to control people. Governments like to control everything. Governments like to have all the power to themselves." 
"My children will never go to a bank, post office, or maybe even to a doctor when they're adults. The computer and the Internet are going to change money as we know it. Everything will change. People in China don't have paper money. They buy a cup of coffee, put their phone on the sensor, and it's paid for. They look at me funny when I say I have cash and want to pay. They say, 'We don't want to take cash. Cash is not efficient."

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.