The dollar's drop becomes more ominous

[rumguy]

http://uk.news.yahoo.com/031221/325/ehl5i.html

[goforit]

1. Hmmmm...........could the WH be devaluing the $ toooo far?

I guess there is nothing like the experience of it all!!

[Myra]

2. Boy it's gonna be nasty when the euro takes over.

Wonder how long it'll be.

[Tinoire]

3. This is going to be very very nasty for us.

On top of this we have Russia seriously contemplating a move to the Euro. Venezuela also. Not looking good...


Soros 'speculating against dollar'
Pound surges to five-year high against US currency. Buffett also said to be betting against greenback
By Philip Thornton and Michael Jivkov
28 November 2003

The pound surged against the dollar yesterday amid speculation that Warren Buffett and George Soros, the world's most famous speculators, are betting the US currency will plummet.

<snip>

http://news.independent.co.uk/business/news/story.jsp?story=467972


Soros bets against the dollar

David Teather in New York
Wednesday May 21, 2003
The Guardian

George Soros, the billionaire investor dubbed "the man who broke the pound", yesterday added to the mounting pressure on the dollar when he admitted publicly he was betting against the currency.
In an interview with US cable channel CNBC, Mr Soros disclosed that he had recently begun to sell. "I now have a short position against the dollar," he said. "I have listened to what the secretary of the treasury is telling me. Who am I to stand in the way?

"We continue to sell the US dollar against the euro, the Canadian dollar, the Australian dollar, the New Zealand dollar and gold."

Mr Soros played a significant role in forcing the pound from the European exchange rate mechanism in 1992 when he bet against sterling. His firm was said to have made $1bn after the pound was ejected.

<snip>

http://www.guardian.co.uk/business/story/0,3604,960213,00.html

[JaySherman]

4. Soros betting against *Bush?

If the dollar sinks so low foreign investors pull out, resulting in collapse, NOTHING will save * in 2004. Not that any of us should want to see that happen. Not a pleasant way to get rid of him at all. The country would be screwed, and while the next Pres would surely a Dem, I feel sorry for him and the mess he'll have to deal with.

[Old and In the Way]

8. Sometimes wars are fought in currency trading, rather than bullets

Guess George missed that class at Harvard Business School.

[NNN0LHI]

16. George was a real wild and crazy guy you know?

[The Zanti Regent]

13. Waiting for Soros to do the John Major on the Chimp

Soros knows what he is doing, he's gonna stick the SHIV up Chimp's ass at the right moment to bring him down just like he brought down John Major.

It is only a matter of time before OPEC dumps the dollar. Just look at the insane fiscal policies the Nazi KKKristians are folllowing, they've let the red ink run wild. The Federal government is going to collapse. The only reason it hasn't is because foreigners are buying up all the debt. Let Soros do his thing and destroy the dollar. When the foreigners demand immediate payment on the treasury notes and the IMF tells Chimp to Fuck off, it's all over for the Nazis.

[Wapsie B]

25. As bad as it could get

for us, it may be the only way to get the neocons out, chimpy included.

[Ernesto]

15. What do you mean IF?

It's already history.

[Journeyman]

5. I wonder if this is part of Soros' plan. . .

to drive Smirk from office. Soros caught a lot of flack from the reich wing for funding efforts to dethrone the Boy King, maybe he's decided to use simple capitalistic pressures to force a change. Mmmm. . .

On edit: JaySherman seems a quicker typist than I, though he's obviously got a great mind (in tune with mine, don't ya know).

[ochazuke]

12. He did it to Sterling, he'll do it to the man -o-smirking

Remember in 1992 or '93, Soros was called the "man who sunk the British pound" or something like that because of his bets against it. More likely he just benefited from it.

[rumguy]

6. kick

kick for the poor dollar

[Dover]

7. It might be wise to follow Soros's example and cover your bets

with the Euro and Gold. I'm sure all the wealthy GOPers have.

[info being]

22. Kind of late now, though, unfortunately

You don't want to sell at the bottom.

[Bandit]

24. Not near the bottom yet

Bush* isn't done yet.

[FlemingsGhost]

9. "Brother, can you spare a Euro?"

This is THE global economic story, and most Americans haven't a clue.

The rest of the world doesn't need military might to defeat the Imperial American menace. They will bide their time, and watch as we spend ourselves into oblivian. (Think Soviet Union, circa late 1980s.)

We are so fucked, and it couldn't have happened to a "nicer" country.

[Cannikin]

10. I agree. America's weakness is its economy

We are upsetting quite a few countries that could pull our financial rug right out from under us. No bombs or aircraft required.

[Beetwasher]

19. Yup, Economic Warfare

and the sad part is, it's being waged against us by our supposed allies...It's called backlash for being an asshole...

[mbperrin]

11. *Bush response:

Hey! Isn't that Kobe over there?

Or Scott over there?

Or Michael Jackson over there?

[DemoTex]

14. Or "Orange Alert" over here!?

Eh?

[chasqui]

17. Without a doubt this is a designed abroad fall.

Think tanks abroad were predicting this fall for some time now:
http://www.rupe-india.org/34/military.html
See #2, "Military Solution to an Economic Crisis"
RUPE, an Indian think tank, posits that anti american forces are taking over Oil producing countries. Witness Iran, Saudi, Venezuela (especially Venezuela, and THIS is the main reason why Chavez is so key to what is going on in the world).
Later, in #3, it says:
".. if other imperialist powers were able to displace US dominance in the region, the dollar would be dealt a severe blow. The pressure for switching to the euro would become irresistible and would ring the death knell of dollar supremacy. On the other hand, complete US control of oil would preserve the rule of the dollar (not only would oil producers continue to use the dollar for their international trade, but the dollar’s international standing would rise) and hurt the credibility of the euro."
The war in Iraq is monetary policy waged by other means (to paraphrase von Clausewitz).
If all this is true, then I wish someone less unilateralist would be in the WH. France, Germany, and Russia are impossible to ignore, and any 'Coalition of the Willing' will not compensate for the fact that Europe is waging a low intensity war with us.

[buycitgo]

18. terra by any other name would reek.......

* would call this ecoterrism, right? not the ecological kind, either.

therefore, anyone buying Euros is a.......TERRIST!

better buy the real thing, stuff em in your pillows.

don't get funds.....they'll be watched, just like your investo/bank accounts.

think I'm kidding?

seen what's in HR 2417? just about got all they want there......forget the lousy PATRIOT II

[prolesunited]

20. I have a lot in global bonds right now

In light of this news, is that a good or bad position to hold?

[copithorne]

21. How to take advantage...

I bought a CD in foreign currencies at everbank.com at the beginning of the year. It's done very nicely for me and the service has been just fine.

Great to see George Soros and Warren Buffet follow my lead!

[davhill]

23. With the Dollar being Cheap

We are going to see a lot more American companies bought up by foreigners. Will they still be creating PACs to fund the Republicans after they are foreign owned?

[Code_Name_D]

26. Good point.

Especualy as many of them are forced to restructure for debt.