Jim Rogers says, Chinese Yuan among World's safest currencies
The Chinese Yuan is one of the safest currencies in the world, Global investment expert Jim Rogers said in Chicago on Wednesday.
Speaking on an occasion at the well-known Union League Club of Chicago, the chairman of Rogers Holdings recommended that global investors hold the Chinese yuan, or renminbi.
Citing China's extraordinary economic growth in the past 30 yrs, he said that China is changing the world already and will continue to change the world.
Turning to the USD, he said that the American currency has now been reduced to a terribly flawed alternative, with the United States being the largest debt nation in history.
The legendary investor also lashed out at the United States' 2nd round of Quantitative Easing, saying that it was totally wrong for the Federal Reserve to print a large amount of money now.-Paul A. Ebeling, Jnr. www.livetradingnews.com