Rogers warns that global interest rates will further rise in preparation for the worst bear market of their lifetime

Legendary investor Jim Rogers once again warned in a recent interview that he is preparing for the worst bear market he has ever seen in his lifetime.

The 80 year old investor also warned that the global dominance of the US dollar is under threat; In order to curb the surge in inflation, it is necessary to further raise interest rates. He also criticized the US Congress, claiming that it is responsible for the current debt ceiling crisis and claiming that commodities are the best hedge against inflation.

Rogers said in an interview, "The next bear market will be the worst I've ever seen in my life, because debt growth has been so astonishing over the past 14 years

He said that the 2008 financial crisis was caused by excessive debt, and since then, borrowing has skyrocketed, indicating a much more severe economic recession in the future.

Rogers said about the US debt ceiling impasse: "We should always pay attention to Washington. They don't know what they are doing. They have proven this day after day."

Rogers commented on people's concerns about de dollarization and said, "You should be very worried. If you're not like this, you don't know what's happening. Many countries are starting to look for alternatives to the dollar, partly because of the terrible debt problem in the United States. I pay attention every day because I know that there will be some bad things happening in the foreign exchange market in the next two to three years

Rogers also stated that he believes global interest rates will further rise, which is exactly the opposite of the current prediction that the global tightening cycle is approaching its end. He said, "Global interest rates will rise. I don't know how high it will take to curb inflation this time. The world has never seen debt, spending, and printing money like in the past few years. Therefore, to solve this problem this time, very, very destructive measures must be taken.

Rogers warned, "All markets will have problems - real estate, stock, bond, currency, and so on. You must learn to cash out or sell short in order to survive the upcoming crisis

Rogers said of Bitcoin, "I don't think the world will turn to Bitcoin. This will be computer currency, but it will be government computer currency

Rogers also stated that he still believes that commodities are the best hedge against inflation. "When inflation occurs, the best investment is in physical assets, which are commodities. The cheapest asset I know of is still commodities." Rogers said he currently holds some silver and gold.

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