Skip to comments.Soros sounds dollar warning (Soros tries to kill America, again)
Posted on 02/27/2005 7:59:17 PM PST by jb6
Jeddah: George Soros is warning all oil-producing countries about pegging their currencies and oil revenues to the dollar.
"The US dollar is weak, and is expected to deteriorate more," said Soros.
The famous currency trader and financier warned Russia and other oil-producing countries to sell their oil and price it in euros rather than US dollars, because the US dollar continues to fall against the euro.
The US dollar poses a danger to oil-producing countries and their economies, he said.
Many central banks intend to peg their currencies to the euro and increase their balances of European currency against the dollar.
Soros's remarks came during at a press conference on the sidelines of the Jeddah Economic Forum, which ended on Monday.
Soros rejected allegations by some economists who held him responsible for the collapse of financial markets and creating an economic crisis in South East Asia.
He was accused of leading an international campaign to weaken currencies of a number of South East Asian countries when he withdrew his funds from Asian stock markets in 1997.
Soros said he sold all his Malaysian and Asian currencies six months ahead of the crisis, and has insisted he had nothing to do with the carnage in the markets.
Soros attributed the crisis to short-term investments in stock markets and the property boom as many investors withdrew their funds and pumped them into real estate.
Ironically, Soros's comments about the dollar may find support from at least one of his old antagonists.
In an interview with Gulf News last month, Dr Mahathir Mohammad, former prime minister of Malaysia, also warned against relying too much on the US dollar.
"Why are we clinging to the US dollar when we know we are going to lose money [as it declines in value]?" Dr Mahathir said.
He and Soros clashed in 1997, when Mahathir blamed global currency traders for the decline in the Malaysian currency
Is Soros the anti-Christ?
Yes. He's a Hungarian Jew who collaberated with the Nazis and then escaped ahead of the Red Army. He's also one of the biggest leftists in the world, and I'm not kidding. He's caused financial ruin and revolutions in many countries: Indonesia, England, Phillipines, Georgia, Ukraine, Romania, Bulgaria, Armenia (next target).
Yes. Like Peter Jennings, some no-talent-@ss-clown at INS decided he could become a naturalized U.S. citizen. Personally, I'd revoke it and deport him back to Europe where he belongs.
Nice guy,.....is Soros a Hindu?
"The famous currency trader and financier warned Russia and other oil-producing countries to sell their oil and price it in euros rather than US dollars, because the US dollar continues to fall against the euro.
The US dollar poses a danger to oil-producing countries and their economies, he said."
Will Russia/Putin listen? Wonder what currency Iran paid Russia for nukes?
Radical governments (good and bad) are almost always elected during economic troubles. FDR in the depression(bad). Reagan in 1980(good).
Perhaps Soros has his pants in a bunch because he spent all that money trying to bring Bush down ... and lost big. I think he is just determined to get him. Should be in that cage with Saddam.
This guy is a more dangerous threat to world stability than the terrorists-he should be dealt with no less severely.
I doubt if he believes in a higher power. He probably believes HE is the higher power.
Oh, now he's also blaming Russia for breaking the dollar. Only an idiot can believe that. Russia has tranferred 13% of their reserve and aim at 25% to the Euro, but that amount is still less then 100 billion dollars, petty change. I don't know what Russia will do, but I'd worry more about China and Japan, they're the big time owners. What this turd is trying to do is get the oil in Euros so it will be much more expensive for us, as countries will dump the dollar to buy Euros and the market will flood, pushing the dollar value down and our interest rates up.
Yep. I think they both should go back where they belong. Neither one of them acts nor thinks like an American, so let them go home and shake the beautiful earth of America off their feet as they go.
It's time this guy got squeezed, big time.
Hungarian Jew by nationality, Atheist (or maybe Satanist) by faith and enemy of Israel, US, Russia, England and even France.
Its amazing that a single man can destroy the US Dollar.
Yeah, but you don't have to be an American citizen to owe U.S. taxes. Besides, the few in or near Soros' income class no doubt have permanent, full time IRS agents assigned to their cases.
If he collaborated with the Nazis, why wasn't he brought up on charges after the war? I can't believe that anyone would have anything to do with him. I wouldn't let my dog urinate on him. Harm might catch something from him.
Well, he was run out of Russia, Indonesia and several other nations. France sued him and won for $2 million. He was persona non-grata in England but is back buying up land and probably prepping for an English Orange (Limey? Blood pudding? Shepard's Pie?) Revolution on the next elections.
Soros is a traitor.
He has a very large short position along with his pal Buffet. He certainly isn't going to talk the dollar up.
First he's Jewish, second he passed himself off as an escapy. He's a piece of work alright, he, his brother and his two sons (one is a flamer). He was still a kid, around 18 or 20 after the war.
"Its amazing that a single man can destroy the US Dollar"
He didn't destroy it. Congress and the Federal Reserve destroyed it.
That is Hinduism,..........Ultimate realization of re-incarnations!
Hindu mysticisms,...Kaballah mysticisms,...etc,.....'At ONE with the ONE',...Ego Trip!
Thanks for the ping!
I thought he was married.
/Islamic $$$$$$ U.N. connections
I am beginning to think he could be. He collaborated with the Nazis and someone allowed him to become an American citizen? I want his citizenship revoked! My father fought the Nazis! Why the heck should a Nazi collaborator be allowed to become an American citizen, become rich off of our country, and then try to tear it apart? He should be tried for treason!
Is anyone asking whether the guy is right or wrong? I don't like him either; but, that doesn't necessarily mean he's wrong.
If he were just a bit younger, I'd be betting on it.
He can't. Soros is, by international monetary standards, a loud-mouthed pipsqueak.
The oil-producing nations are free to peg their product to any currency they want. And the dollar is, indeed, falling in value with respect to the Euro.
Of course, it isn't just the short-term arbitrage that's involved here. The underlying economies are a much more reliable indicator of where the currencies will be 10, 20, or 50 years from now. Hard-eyed traders are going to be looking at this: which economy do you want to depend on, the U.S.'s or the EU's? And if the latter, how much pain will you be willing to stand when it turns south?
Soros is not a bridge you can use to span the widening chasm between America and Putin's Russia.
He's fixing to short dollars. Personal gain is his motive, maybe so that he can try to purchase a President again.
It's time for the CIA to do their job for the national defense.
Duh!(slaps self in forhead) - he's been shorting dollars, now he's fixing to buy them ... cheap.
No, but he's the glue that will bind Hildabeast's presidency to the EU socialists. Try not to show glee. Oh and he loves the Islamics you seem to champion too.
And, I'm with you.
If Mr. Soros is sold short, and if the world sees Mr. Soros' negative rhetoric as political hate rather than fundamentally founded, the dollar begins a sustainable climb, and Soros stands to lose gazillions in a "short squeeze".
If several billionaires are sold short, it becomes a game of "dare" on who buys back in first.
"Oh, now he's also blaming Russia for breaking the dollar."
I see the 'Cult' of Clintonism at work here. The Clintons sought to make all nations equal, got to wonder how close Soros and the Clintons are?
Yes, he is. He betrayed his own people during WWII. Now he is betraying us. We need to deport him.
What was the rational for getting off the gold standard again?
Yes,.....her kind of 'Ka-BULL-la,......la,la,la,la!
Gee, you sure do know a lot.
Only, what I 'don't' read in the media!
'Blonde',....is in the eye of the beholder!
Let's hope so. I can't help but think that oil has been a 'gold standard' for the dollar. If you don't need dollars to buy oil, then the demand for dollars will fall...correct?