This morning I came across an interesting article about legendary investor Jim Rogers on the Internet news site NewsMax. Rogers, who recently moved to Singapore with his family, is the parent of two daughters and had some advice for other parents. From the NewsMax piece earlier today:

Jim Rogers thinks the smartest and best thing parents can do to ensure their childrens’ future economic well-being is to teach them to speak Chinese.

Later on, the CEO of Rogers Holdings gave out another recommendation. According to NewsMax:

Rogers — who no longer holds any funds in U.S. dollars and advises investors to buy strong non-U.S. currencies — says that the second best thing parents can do for their kids’ future is to keep their money in a Swiss bank account.

“My little girl does not have American bank accounts, she has Swiss bank accounts,” Rogers says.

Why no dollars? The fact that the U.S. is now the largest debtor in history means the U.S. dollar won’t be recovering any time soon, Rogers says.

“We owe the rest of the world $13 trillion, rising at the rate of $1 trillion every 15 months,” he says, to illustrate why the dollar’s value is decreasing.

“And the few people who know what is going on, don’t seem to care.”

The staff at NewsMax also noted that the former partner of George Soros is investing in a new area unbeknownst to Investorazzi.com. They wrote:

Rogers, in fact, is so confident in the future of China’s middle-class that he recently began buying shares in companies that produce a commodity that middle-class Chinese are just beginning to use — wine.

Source:

“Rogers: My Kid Learns Chinese, Banks Swiss”
NewsMax, August 6, 2008

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