Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of finance and cryptography.
Acclaimed Investor Jim Rogers Warns ‘Worst’ Bear Market of His Lifetime Is Coming – Finance 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 the next one will be “the worst” of his lifetime. He noted that many stocks will go down 90%, stressing that investors will lose a lot of money.
Jim Rogers says the “worst” bear market of his lifetime is coming next
Famed investor Jim Rogers warned of an incoming bear market that will be “the worst” of his lifetime in an interview with Kitco News published last week. Rogers is George Soros’ former business partner who co-founded Quantum Fund and Soros Fund Management.
Citing that we are in a bit of a bear market right now, he predicted that the worst is yet to come, warning:
More bear markets to come… The next one is going to be the worst of my life.
While he explained that in 2008, “we had a problem of too much debt,” he emphasized that the debt has skyrocketed since then.
“The debt, my God, look out the window, the debt has skyrocketed everywhere, so the next bear market must be horrible,” he opined. “How can it not be a terrible bear market … I mean, the United States has increased its debt several times since 2009. Japan, my God, they can’t even count the debt in Japan. In many countries in the world, the debt just goes higher and higher and higher … 2008 was because of too much debt, it’s much worse now.”
Rogers elaborated:
Many stocks are going to go down 70%, 80%, 90%. Of course it’s going to 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 noted, adding that “it’s already historically overdue.”
He further detailed: “We have very high valuations, we have staggering debt, we have a lot of new investors coming in. It’s not my first rodeo. I have seen this movie. I know how it works. They are all going to lose a lot of money. I hope I’m not one of them.”
Jim Rogers on the US dollar losing its dominance
Rogers also reiterated his view that the US dollar will lose its dominance, stating that “the Russia-Ukraine war has accelerated it.”
The 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 if they don’t like you, you can’t use US dollars, and people say ‘wait a minute, an international medium of exchange is supposed to be neutral. That’s not how it’s supposed to work.'”
He claimed that the US government has shown it will “take your money from you” if it doesn’t like you. “A lot of people have had their assets seized by the United States because they don’t like them,” Rogers emphasized, elaborating:
Many countries, even our allies, are now looking for something to compete with [with the U.S. dollar] because it can happen to them, you know, suddenly Washington could say you’re done.
Rogers also commented on bitcoin, confirming that he has not bought any BTC. He reiterated his view that if cryptocurrency succeeds as a currency, governments will ban it because they don’t like competition.
What do you think of Jim Rogers’ warnings? Let us know in the comments section below.
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