Jim Rogers on Switzerland and Zero Interest Rates

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Jim Rogers USD Super Bull

Jim Rogers : Keep your assets protected from whom? Depends on… North Korea is probably a very safe country to keep your assets if you’re trying to protect it from the U.S. and the West, I’m not so sure it’s safe for protecting it from the North Koreans if they get angry at you. It depends on who you’re trying to escape. I guess places like… Well that’s a tough one, because if you’re trying to protect it from everybody, you’re going to have to find yourself in an obscure country that nobody’s angry with, and which respects the rule of law and the sanctity of private property. I live in Singapore and I have assets in Singapore, but I have assets in various countries around the world. I have assets in U.K., some in the U.S. Trying to get my assets out of the U.S., because I expect exchange controls eventually. Switzerland, Austria, I mean these are countries that traditionally have been okay, but even these countries, especially Switzerland is not what it used to be as far as sanctity anymore. Singapore is the answer that pops to mind most of all for many reasons. The problem with that is, if the U.S. really comes after somebody, Singapore would probably cave to the U.S., depending on the circumstances.

So it seems Jim Rogers like these places for living:

Europe: Austria, Switzerland

Asia: Singapore

Zero Interest Rates encourages Reckless Borrowing

Jim Rogers : Well if I were a municipality, I’d be borrowing as much as I could, since its interest free. You could put it into an arbitrage, if nothing else. Why doesn’t Toronto, just borrow a lot of money, turn around and put it in government bonds? I don’t know, I suspect somewhere along the line, the Canadian politicians are going to change the rules. That’s the trick that politicians have done throughout history when things really go against the politicians, they just change the rules on you, in nearly every country in the world at some time in history.
Jim Rogers came into this world in 1942 in the state of Baltimore, Maryland, USA and grew up in the Demopolis, Alabama area in the USA. He has a bachelor degree in the subject of History, which was awarded to him in 1964 by the Yale University, and a second bachelor degree (BA) in Philosophy, Economics and Politics awarded by the Balliol College from the University at Oxford in early 1966. He has shown an early interest in starting and running his own business. At only 5 years old, he had already tried running his own business selling peanuts to local customers and collecting empty bottles at area baseball games. Check our special resource page to see Jim Rogers Macro Views.

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