Wednesday, May 20, 2015

China, Russia other countries coming up with new system

We [USA] keep coming up with sanctions and rules and regulations and penalties on people, no matter what. They [USA Government] penalize you for doing something in other countries which is legal in the other countries, but not legal in America. 

So needless to say, the rest of the world is getting tired of this, getting fed up, cannot operate in a system like that, and so they are now, it’s not just China and Russia, its other countries that are now putting together an alternative and competing system which will ultimately, of course, will mean a competing currency as well. 

At that point the U.S. dollar is probably going to have serious problems, because if we cannot control things the way we have been able to for the past 60 or 70 years. And again, we’re bringing it on ourselves, all these bureaucrats in Washington are coming up with constant regulations and penalties, now the rest of the world is being forced to do something outside of the U.S. system.



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.