In an interview with CNBC today, billionaire commodity bull and expert Jim Rogers said he sees continual turmoil in the currency markets, although in the short term he has positions in U.S. dollars, renminbi and euros.
This is the result of the horrendous decisions of the Federal Reserve and other central banks around the world to continue to "stimulate" the economy with money created out of thin air, which is extremely disruptive to the market over time.
Rogers says he sees the renminbi possibly tripling over the next ten to twenty years. He said, "I own the renminbi. Every time I can, I buy more renminbi. I expect the renminbi to double or triple in the next decade or two." He did say he doesn't have a position in the British pound at this time. Rogers added he owns no U.S. stocks either.
As for his positions in gold, silver and other precious metals, Rogers continues to say he won't be selling any of those. "The way to protect yourself at a time like that, historically anyway, has been to own real assets. Those are my longs, and currencies," said Rogers.
Rogers recommends for investors to monitor the currencies of the world. When quantitative easy results in increasing currency turmoil, he says that's the time to buy commodities.
He concludes that as the near the latter part of this decade it's doubtful very many investors will hold paper money, as it's increasingly falling out of favor as debasement pushes the value down.