Legendary commodities investor Jim Rogers isn’t known for keeping his opinions to himself. But anyone who helped created what is possibly the world’s most successful international hedge fund is worth listening to. Unlike former business partner George Soros, Rogers is an unabashed free-market capitalist and has stated that he’s a believer in the Austrian School of economics. So, while you wouldn’t expect him to support the policies of the current administration (Rogers supported Ron Paul in 2008), that doesn’t mean his latest statements had any less of an impact.
“Noted commodities and currencies investor James Rogers said the U.S. faced a major crisis under the weight of “staggering debt” that would be worse than the 2008 shock that nearly ground the system to a halt. Rogers, former partner of George Soros, said the dollar would be a “total disaster” because of these debts and continued easy-money policies of the Federal Reserve. Still, Rogers said, he holds dollars, which he said he bought on expectations of a short-term rally. The best defense against central banks, such as the ones in the U.S. and Japan, that Rogers said print money, is holding real assets, such as silver, rice or other commodities.”
Considering that he relocated to Singapore several years ago it’s no surprise that Rogers is bullish on the Chinese. He had an interesting recommendation regarding investing there, stating “The best way to latch onto Chinese growth is to invest in commodities, yuan and Chinese stocks.” Rogers also suggests investing in rice as well.