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.