Jim Rogers predicted the imminent collapse of the us economy

“The problem is that the world in the coming years will face daunting challenges, they will occur in the United States, Europe, Japan, it will affect all countries. At the same time, Russia has gone down, there will not be a fall, but a Grand success is not worth waiting for, because the world will collapse,” said Rogers in an interview at the St. Petersburg international economic forum (SPIEF).

In America the situation every day gets worse, says Rogers: “America is the biggest debtor, not just in the world but in world history. Rates on these debts are now artificially low, they are insanely low. When that changes, “we will see many bankruptcies in America, including the bankruptcy of some States and cities”, said the investor.

“It will be a nightmare, and we should be very concerned about this,” said the billionaire. People first will transfer the money in dollar assets, which seem to them the most safe, “and then the American economy will collapse,” Rogers says.

However, he said that he had “quite a lot of dollar-denominated assets, but only because the dollar is perceived as a safe haven”. “The next two or three years, the dollar will rise, until finally it becomes a bubble, but I hope I have enough sense to get rid of dollar-denominated assets before it will burst,” — said the investor.

Rogers believes that the collapse of the us economy will be in 2018-2019., “maybe in 2020, quite soon.”

The billionaire believes that the Russian economy has several advantages over the American. “First, you have little debt, and secondly, you have already faced the biggest problems.”

I have ruble assets, and I want to buy more rubles. He believes that when investors will withdraw money from dollar-denominated assets, they can pay attention to the ruble. “First choice would probably be Chinese yuan, gold will be attractive. But Russian assets can seem attractive. I am the most optimistic person in relation to Russia,” he adds.

In his opinion, in a few years “will be removed from Russia if not all, most of the” sanctions. “Your country will be in better shape than many others, when there are crises in other parts of the world. Don’t sell rubles, and if you want to sell, let me buy them from you,” said Rogers, adding that his recent investment sale Russian Federal loan bonds with maturity in 2018.