American businessman, writer and investor Jim Rogers said in an interview with RIA Novosti that the US dollar was beginning to lose its leading position as the United States became the largest debtor in the world.
Washington has become the biggest debtor in history, the businessman said. Therefore, many are beginning to doubt whether they need US currency, as it may cause problems in the future.
Rogers stressed that the international currency should be absolutely neutral, and now it is not. States change the rules of the game and “if they get mad at you, they can put you off”. Therefore, even Washington’s friends and allies do not exclude the danger of falling under such sanctions, the investor believes.
Therefore, many countries around the world are looking for a substitute for US currency, the businessman said. And it’s happening faster because even many US partners admit “something could happen to them,” Rogers said.
At the same time, the businessman believes that so far there is no adequate replacement for US currency in the world. It could be the yuan, but it’s not a fully convertible currency. However, the process continues, and in time an alternative will appear, and then “America’s time will come to an end,” Rogers says.
Earlier, International Monetary Fund Director Kristalina Georgieva said the world is gradually moving away from the dollar, but there is still no alternative to the US currency.
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