Famed American investor and co-founder of the Quantum Fund, Jim Rogers, has recently declared that the U.S. Dollar’s time as the world’s reserve currency is coming to an end. In a new interview with the Russian state-owned news agency Sputnik, Rogers suggested that America’s politicization of the dollar has inspired many allies and foes alike to look for other alternatives.
“Many people are starting to look for other currencies,” said Rogers. “Many countries, allies and not so friendly with us, are looking for alternatives. That’s the way it goes. That’s the way it’s been throughout history, and it will be that way now.”
Rogers went on to explain that the United States will be forced to take its lumps when it comes to the international currency markets, as the dollar’s loss of global dominance will undoubtedly have a wide-reaching impact.
“The dollar is going to take a hit, as I see it,” said Rogers. “It’s already happening. And I’m afraid it will continue happening, at least in the short term”.
