Well-known investor Jim Rogers warns that the “worst” bear market of his life is coming – The Economy of Bitcoin News

Well-known investor Jim Rogers warns that the “worst” bear market of his life is coming – The Economy of Bitcoin News

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that more bear markets are coming and that the next one will be the “worst” of his life. Noting that many stocks will fall by 90%, he stressed that investors will lose a lot of money.

Jim Rogers says the ‘worst’ bear market of his life is coming

Celebrity investor Jim Rogers warned of a new bear market that will be the “worst” of his life in an interview with Kitco News published last week. Rogers is a former business partner of George Soros who co-founded Quantum Fund and Soros Fund Management.

Stating that we are currently in a bit of a bear market, he predicted that the worst is yet to come, warning:

More bear markets to come… The next one will be the worst of my life.

Explaining that in 2008 “we had a problem with too much debt”, he emphasized that the debt has grown rapidly since then.

“Debt, oh my God, look out the window, debt has skyrocketed everywhere, so the next bear market must be terrible,” he opines. “How can it not be a terrible bear market… I mean, the US has increased its debt several times since 2009. Japan, oh my god, they can’t even count the debt in Japan. In many countries in the world, the debt is simply growing and getting bigger and bigger… 2008 was because of too much debt, now it’s much worse.”

Rogers elaborated:

Many stocks will drop 70%, 80%, 90%. Of course it will happen. I just don’t know when.

“It’s been 13 years since we’ve had major problems, and that’s the longest in American history,” he said, adding that it’s “already overdue on a historical basis.”

He further detailed, “We have very high valuations, we have staggering debt, we have a lot of new investors coming in. This isn’t my first rodeo. I watched this movie. I know how it works. Everyone will lose a lot of money. I hope I’m not one of them.”

Jim Rogers on how the US dollar is losing its dominance

Rogers also reiterated his position that The US dollar will lose its dominancestating that “the Russia-Ukraine war accelerated it.”

A veteran investor described: “The world’s international medium of exchange should be neutral – anyone can do whatever they want with it. But, unfortunately, Washington is changing those rules. Washington says well if they don’t like you, you can’t use the US dollar, and people say ‘wait a minute, the international medium of exchange is supposed to be neutral. That’s not the way it’s supposed to work.’”

He claimed that the US government has shown that it will “take your money” if it doesn’t like you. “The US has seized a lot of people’s property because they don’t like it,” Rogers pointed out, elaborating:

Many countries, even our allies, are now looking for something to compete with [with the U.S. dollar] because it could happen to them, you know, all of a sudden Washington could say you’re done.

Rogers also commented on bitcoin, confirming that he hasn’t bought any BTC. He reiterated his opinion that if cryptocurrency succeeds as a currency, governments will outlaw because they don’t like competition.

What do you think of Jim Rogers’ warnings? Let us know in the comments section below.

Well-known investor Jim Rogers warns that the “worst” bear market of his life is coming – The Economy of Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.

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