Economy
Yuan among world's safest currencies: expert
Updated: 2011-01-13 13:28
(Xinhua)
CHICAGO - The Chinese yuan is "one of the safest currencies in the world," global investment expert Jim Rogers said Wednesday.
Speaking on an occasion at the well-known Union League Club of Chicago, the chairman of Rogers Holdings recommended that global investors hold the Chinese yuan, or renminbi.
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Turning to the US dollar, he said that the American currency has now been reduced to "a terribly flawed alternative," with the United States being "the largest debt nation in history."
The legendary investor also lashed out at the United States' second round of quantitative easing, saying that it was "totally wrong" for the Federal Reserve to print a large amount of money.
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