Famous Investor Jim Rogers Warns That The ‘Worst’ Bear Market Of His Life Is Coming – Bitcoin Economics News

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

Jim Rogers says the “worst” bear market of his life is coming next

Popular investor Jim Rogers warned of an upcoming bear market that would be the “worst” of his life in an interview with Kitco News, published last week. Rogers is the former business partner of George Soros who co-founded the Quantum Fund and managed the Soros Fund.

Citing that we’re in a somewhat bear market right now, anticipate that the worst is yet to come, warning:

More bear markets to come…the next market is going to be the worst of my life.

While he explained that in 2008, “we had a problem with a lot of debt,” he emphasized that debt has gone up significantly since then.

“Debt, oh my God, look out the window, debt is up all over the place, so the next bear market must be terrible,” he said. “How can it not be a bad bear market… I mean, the US has increased its debt several times since 2009. Japan, my God, they can’t even calculate the debt in Japan. In many countries in the world, the debt is going higher and higher and higher. … It was 2008 due to too much debt, it is much worse now.”

Rogers explained:

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

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

As he explained, “We have very high ratings, we have huge debt, and we have a lot of new investors coming in. It’s not my first rodeo. I’ve 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 talks about the US dollar losing its hegemony

Rogers also reiterated his opinion that The US dollar will lose its hegemonynoting that “the Russian-Ukrainian war has accelerated it.”

The veteran investor described: “The world’s international medium of exchange is supposed to be neutral – anyone can do anything they want. But, unfortunately, Washington changes those rules. Well if they don’t like you, you can’t use the US dollar, Washington says People “Wait a minute, the international medium of exchange is supposed to be neutral. This is not how it is supposed to work. “

He emphasized that the US government has shown that it will “take your money from you” if you don’t like it. “The United States has confiscated the assets of many people because they do not like them,” Rogers emphasized, explaining:

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

Rogers also commented on Bitcoin, confirming that he did not buy any of it BTC. He reiterated his opinion that if cryptocurrency succeeds as a currency, Governments will ban Because they don’t like competition.

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

Kevin Helms

Kevin, an Austrian economics student, found bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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