There’s economic havoc on the horizon, but no safe haven for investors, says legendary investor Jim Rogers.
“I’m not the only person who knows there’s turmoil coming,” Rogers said in an interview with Real Vision TV released Friday. “And people are looking for ways to protect themselves.”
Many of them are going to gold and the US dollar, but neither are safe, Rogers said.
“I own a lot of US dollars, though,” he added. “Not because it’s a safe haven, but because people think it’s a safe haven. And when the world falls apart, people will put their money into the dollar. That’s going to mean the dollar’s going to go up.”
In turn, the dollar’s increase is going to hurt a lot of other currencies, Rogers said, including the Chinese currency, the Euro and the UK pound.
Rogers warned against seeing strength in the strong US stock market, which has continued to rise. “Everybody thinks, well, things are great, because look at the S&P,” he said. “Well, look under the S&P, and you would say, oh my god, look what’s going on here. We’ve got problems, and that’s happening this year as well.”
Rogers joins other notable investors who have raised concerns about potential market turmoil.
Stan Druckenmiller said earlier this year that investors should move their money to gold, and 36 South’s Jerry Haworth, who runs a black swan fund, said he also expects chaos to come.