Major Crisis Coming

Investors should take every precaution right now to protect their money from a major market disaster that will destroy the economy and impoverish millions of Americans.

That’s according to legendary investor Jim Rogers, who delivered his frightening warning recently on Yahoo! Finance.

Rogers believes we’re heading for a massive collapse of the dollar which will cause interest rates to soar to record levels. He warned investors should stay clear of the dollar and other fiat currencies.

“There is no sound currency anymore, “Rogers stated.

“There’s no paper money in 2014 and 2015 that’s going to be worth much of anything,” he added.

According to Bloomberg, the U.S. dollar has indeed reached a startling two-year low – its weakest since November 2011 – with consumer confidence dropping like a rock.

And the U.S. dollar has lost 38.5% of its value since 2002.

“For the first time in recorded history we have all major banks and central governments around the world printing huge amounts of money,” Rogers said. “This has never happened in world history and so the world is floating on an artificial ocean… of lots and lots of printed money,” said Rogers.

Rogers noted that the situation will only get worse if the government continues to “kick the can down the road.”

“When the can goes over the road, we’re all going to go with it,” he said.

“The debt is going higher and higher. The money printing is going higher and higher.  We’ve had 50 or 60 years of success in America,” he said. “You’ve got to pay the price someday whether you like it or not. The longer you delay the day of reckoning, the worse the day of reckoning is going to be.  This is not going to be fun.”

He added that the problems will not be solved with the Federal Reserve intact.

“Abolish the Federal Reserve,” Rogers stated. “The world has gotten along quite famously and well without central banks for most of world history.”

“America has had three central banks in our history, the first two disappeared,” he said. “This one’s going to disappear too because they keep taking on huge amounts of debt… they keep leveraging up the balance sheet… they keep making mistake after mistake… they’re printing money, it’s going to self-destruct before it’s over.”

He argued, “We’d be better off with no central bank than this central bank.”

Finally, Rogers predicted that Americans will soon abandon the dollar for an alternative currency.

“Maybe it will be Bitcoins,” Rogers predicted referring to the digital currency that’s been taking the world by storm.

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While the dollar continues to lose value, this alternative currency has skyrocketed in popularity…and value.

Just a year ago it was trading under $20. Yet its price recently topped $1,200 for a single Bitcoin, turning many smart investors into instant millionaires.

Bitcoin has become so popular that Congress recently held hearings to determine if they were safe and legitimate.

They voted resoundingly YES.  Ron Paul, the senior U.S. Representative from Texas, said, “Bitcoins are fantastic.”

Microsoft founder Bill Gates called Bitcoin a “Techno-tour-de-force.”

And Google executive chairman Eric Schmidt said point blank: “It’s changing society.”

The White House has also taken notice.

In October, President Obama summoned Google CEO Schmidt to the Oval Office and asked him if Bitcoin was “something he has to worry about.” Attending this meeting was an advisor to the Secretary of State, a Director of the International Crisis Group, and the Vice President of the Council on Foreign Relations.

They discussed this new form of money and how they believed it was “changing society.”

And judging from what is taking place in America and all over the world that is exactly what’s happening.

Already, 200,000 companies in the United States can currently pay their employees with it, while 700,000 American businesses accept them as payment, including Walmart, CVS, Lowe’s, and NIKE.

You can use Bitcoin to buy gold & silver…. Or even Domino’s pizza and have it delivered.

In Texas, a man who recently converted 1,200 U.S. dollars into this new money because of its rapid rise in value, turned around and bought a Porsche with it.

In New York, a luxurious condo in the exclusive, Trump Soho complex was recently listed for $1.9 million.  But you couldn’t pay for it with dollars, a check or wire transfer.  The seller would only accept Bitcoin.

In France, you can have your salary paid in it, in Finland, dentists will accept payment in it. And in New Zealand, one company will even let you pay for a private flight to outer space with Bitcoin.

It’s seems to be creating a new, international monetary system that some economists believe could solve all the problems we face with fiat currencies – including the kind of devastating collapse predicted by Jim Rogers.

The founders and financial backers of Facebook, Skype, Yahoo…Major players in natural gas and oil…As well as with AT&T and Fidelity… are all moving into Bitcoin.

Some eBay auctions are now being held in it.  MoneyGram is using it to facilitate millions upon millions of dollars’ worth of financial transactions.

Western Union is beginning to assess the technology necessary to harness it.