Jim Rogers says the U.S. faces hyperinflation down the road, like what happened in the 1970s.
“There’s no question the US is vulnerable to hyperinflation down the road or certainly the inflation we saw in the 1970s, I would expect that to come back in the foreseeable future, certainly in the next few years,” Rogers told CNBC Thursday.
“The true inflation rate in America? It’s certainly at least 6 or 7%, the US government lies about it…everybody who shops knows that prices are up, everybody except the US government, and I wish we knew where they shopped so we can shop there too and get good prices.”
Rogers also repeated his view on the Fed’s QE program, saying it is debasing the currency and emphasized that he was extremely pesimistic and worried about the fate of the greenback over the long term.
