Jim Rogers, chairman of Rogers Holdings, believes unprecedented debts will hit the mother of all economic downturns at unprecedented levels. Jim Rogers, chairman of Rogers Holdings and famous investor, has warned that the effects of global central bank policy will be more severe than anything we have seen before.
According to Rogers, the US, like countries around the world, is adopting short-term solutions in response to the pandemic, which will result in long-term pain. Although central bank policies have so far been successful in propping up financial markets, Rogers sees a bleak future.
Jim Rogers a Bitcoin Proponent?
Since the introduction of Bitcoin in 2008, the currency has established itself as the valid currency for purchasing goods and services. It was created to replace things like fiat and credit cards, to restore financial power and independence to the people who would use them, and to free themselves from the hands of the big banks that control the global financial system. However, according to Rogers, Bitcoin would be in serious trouble if it ever happened as governments would work particularly hard to eliminate Bitcoin. He notes: “If the cryptocurrency prevails as real money and is no longer the subject of gambling as it is today, the government will make the cryptocurrency illegal and eliminate it.”