Legendary investor Jim Rogers says the chance of a U.S. recession within one year is “100%”…

In a recent Bloomberg TV interview, Rogers notes the long-term U.S. average for recessions is every four to seven years.

It’s now been eight years since the last U.S. economic downturn.

Chart

Rogers sees the economic turmoil in China, Japan, and Europe as recession catalysts for the U.S. That will add even more strength to a bull market in the U.S. dollar.

It may be his most important insight…

It might even turn into a bubble… if markets around the world are crashing… everybody’s going to put their money in the U.S. dollar.

Tom told his readers to expect as much in November’s Palm Beach Letter:

By the time this contraction is over, the world will look starkly different. People will feel very comfortable holding money in cash—specifically, dollars.

There will be an almost greedy feeling about people saving. Investors will hoard money.

Bottom line: Tom says there will be extraordinary opportunities to trade dollars for other investments—once the dollar bull market hits “bubble” levels. But we’re not there yet. Stay long the U.S. dollar.