US Dollar Will Lose Reserve Status by End of Decade (Video)

Renowned author and investor Jim Rogers appeared on RT yesterday to share his thoughts about the end of the US dollar as the world’s reserve currency. In this short interview, he suggests that the Chinese renminbi might fill the void left by the dollar. This prediction shouldn’t be much of a surprise to our readers, as we’ve been following the ever-growing gap between the East and West. The big takeaway is this: Rogers is certain that by the end of this decade, the world will be well on its way to completely abandoning the dollar as a reserve currency.

The US thinks that they’re in charge and they don’t have to worry about anything. No, I hate to say it – I’m an American citizen – but you know, there’s a lot of arrogance still in the United States. Especially about the dollar.”

Here is a partial transcript of Roger’s responses:

“Putin is on exactly the right line. It has not been overblown. Kevin, America is the largest debtor nation in world history. And the debts are getting worse and worse and worse. The world needs something to compete with the US dollar. The Chinese and the Russians are doing the right thing to try to find something else.

The dollar is a seriously flawed currency. People need something else to use. Whether it’s the ruble, the renminbi, or what, I don’t know. I suspect it will be the renminbi, but the world is starting to realize it must move away from the US dollar.

The US thinks that they’re in charge and they don’t have to worry about anything. No, I hate to say it – I’m an American citizen – but you know, there’s a lot of arrogance still in the United States. Especially about the dollar.

Not this year, not next year, but certainly by the end of this decade you’re going to see many people use other things. People have already started 10, 15 years ago, the US dollar was 70% of people’s reserve currency. Now it’s down to 62%. People are already moving away. Slowly, but they are moving.”

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