LIBERTARIAN BILLONAIRE WARNS OF 'FINANCIAL ARMAGEDDON' AFTER U.S. ELECTION
Karl Dickey / Examiner
Billionaire investor Jim Rogers warns of coming financial collapse
Jim Rogers is a libertarian-minded billionaire who made the bulk of his fortune with progressive George Soros when they partnered in running the Quantum Fund. Both men are highly respected in financial circles. Since their split Rogers has moved to Singapore to run his investment business and recently has been advising Americans to buy farmland and dump stocks as he sees growing value in commodities. He is also strongly advising individuals and governments around the globe to dramatically reduce their debt.
During a recent CNBC interview, Rogers said, “People need to stop spending money they don’t have. The solution to too much debt is not more debt. What would make me very excited is if a few people went bankrupt or a few people started paying off their debt. We are going to have financial Armageddon anyways, when the rest of the world is not going to give these people any more money.” He went on to say, "The Americans and the Germans they want to do everything they can to hold the world together until after the next election. It's going to be bad after the next election."
Rogers has recently been suggesting individuals to put their money in real assets and not the U.S. dollar. He suggests the purchase of farmland and the running of a farm as that will be where the real money will be. He also has said he sees a rise of interest rates as the market will eventually force the Federal Reserve to raise rates. Real assets are things like farmland, sugar, wheat, gold, silver, oil, gasoline, zinc, amongst other items.
Rogers also spoke about the upcoming U.S. general election in that he would never vote for either Barack Obama or Mitt Romney as they will both "spend us into oblivion." He went on to say, "Both of them are part of the problem. They're not the solution, they are the problem."