Dump US Dollar, Invest in Commodities: Jim Rogers

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Recently by Jim Rogers: Dow 1 Million? Sure, Why Not?

The US dollar is increasingly getting battered by global investment pundits. Singapore-settled billionaire commodities investor Jim Rogers says it is high time small-time and big-time investors dumped the American currency. Instead, Rogers says, investors should shift their money from dollar to commodities.

Rogers, who has been consistently saying that the US dollar is losing the reserve status as a currency, said during a recent investors’ conference: “The US dollar is a flawed currency. Dollar has no future. So if you want your money to be secure, invest in commodities.”

What is it that makes Jim Rogers, an American, to hate the country he was born in. It was in America that he learned the fine art of investing, big time. Why is he making anti-America, anti-dollar statements from Singapore, the Asian country he has chosen to settle these days?

Jim Rogers shifted from the US to Singapore in early 2008, when the United States’ economy was getting overheated and signs of recession were showing. Rogers sold his Manhattan home, bought a house in upmarket Singapore and settled there with his family. Yes, when you have lots of money, you have the options of settling down anywhere you want, Rogers who became a Wall Street legend when he and George Soros founded the Quantum Fund, had told Commodity Online during an interview

During the next 10 years, Quantum Fund gained 4200%, making him the best known commodities investor in the world. In 1998, he launched the Rogers International Commodity Index, a composite, US dollar-based, total return index, designed to meet the need for consistent investing in a broad-based international vehicle. The Index represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy to metal products.

So why is Jim Rogers asking investors to desert the US dollar and keep all their money in commodities? He says a long commodity bull run is on and people who pile their money into commodities are going to benefit.

Here is Jim Rogers’ take on the commodities bull run:

“Commodities are in a boom market these days. The bull market in commodities has a long way to go. Some commodities are consolidating right now, in anticipation for the next move up. Some like crude oil are in all time high. You know in commodities market, some go up and some come down. But I tell you the boom market in commodities is a long way to go.”

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Jim Rogers has taught finance at Columbia University’s business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.

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