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He also increased the proportion of shares of the Moscow Stock Exchange and he also has a paper of ‘Aeroflot’.
He
also mentioned the dollar saying that the US currency is in a terrible
situation as the US national debt and trade deficit are huge.
“If we simply write out on paper the facts that lie behind the ruble and the dollar, without naming the currency, then everyone will want to buy rubles and no one will buy dollars. But as soon as you name them then, of course, people buy dollars.”
He added that he hopes he will be smart enough to get rid of dollars before the collapse happens. “Everything seems perfect, until one day it ceases to be so. It was the same with Britain, France, Spain and Greece. Often stocks manage to go up for a few years before hitting bankruptcy.”
“The Asian market is much larger — 3 billion people. The population
of the United States and Europe is a little more than 1 billion people.
For Russia it is better to be with 3 billion creditors than 1 billion
debtors,” the investor explained.
Jim Rogers said that China, Korea, Japan, Taiwan, Hong Kong and Singapore are where all the money is, while the US and Europe have become the largest debtors.
Concerning the current ruble situation Rogers
said, “Russia has low debt, unlike Greece, as well as convertible
currency, which is quite unique for the new markets. So fundamentally
its position can be called normal. It is being pressured by lower oil
prices, but as soon as the black gold finds the stable point the
situation will improve for the ruble.”
“If we simply write out on paper the facts that lie behind the ruble and the dollar, without naming the currency, then everyone will want to buy rubles and no one will buy dollars. But as soon as you name them then, of course, people buy dollars.”
He added that he hopes he will be smart enough to get rid of dollars before the collapse happens. “Everything seems perfect, until one day it ceases to be so. It was the same with Britain, France, Spain and Greece. Often stocks manage to go up for a few years before hitting bankruptcy.”
It is a matter of time before Asia becomes a
major partner for Russia. For America this would mean that they will not
receive their share of potential in the Asian market. The “US has
simply shot itself in the leg.”
Jim Rogers said that China, Korea, Japan, Taiwan, Hong Kong and Singapore are where all the money is, while the US and Europe have become the largest debtors.
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