"The City Of London Is Finished" Says Quantum Co-Founder



(Asshole via sky)

Jim Rogers, co-founder of the Quantum Fund, who packed up, sold his American residence and moved to Singapore is once again highly critical of the West ("I am (in Asia) because this is the exciting part of the world. This is the future, and I want my children to grow up knowing Asia, and knowing things Chinese"). Not particularly patriotic, Rogers has some brutal words for Britian, where he achieved a BA from Baliol. From the FT:

"The pound is a currency with no underpinning and should fall against the dollar and the euro, says Jim Rogers, chairman of Rogers Holdings and co-founder of the Quantum Fund with George Soros.

"He says his view reflects the UK’s dire economic situation: 'It’s simple, the UK has nothing to sell.'

"Mr Rogers says the two main pillars of support for sterling have been North Sea oil and the strength of the UK financial services sector, in particular, the City of London’s role.

"But Mr Rogers says just as North Sea oil is running out, so London’s standing as a major financial centre is set to suffer.

"'The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the west? You don’t need London,' says Mr Rogers.

Interesting that instead of fighting for better schools or using some of his fortune to help Obama's America and Britain -- countries, we cannot fail to note, that educated that damned ungrateful bastard -- he has instead turned East. Rogers has also been hugely critical of the banking bailout.