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Soros sounds dollar warning (Soros tries to kill America, again)
GulfNews ^ | 23/2/2005

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


TOPICS: Business/Economy; Foreign Affairs; Government
KEYWORDS: athiest; buttofevil; cnn; currency; dollar; easonjordan; economy; evil; globalgovernance; insane; islamics; mastersoftheuniverse; mediawaronamerica; oil; soros; wef
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To: jb6
We have 18 and 20 year olds fighting in Iraq. Well, we know what he is now and he isn't 18 anymore. There ought to be a way to get rid of him.
41 posted on 02/27/2005 8:36:44 PM PST by Goodgirlinred ( GoodGirlInRed Four More Years!!!!!)
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To: Tax Government
Tax, you said It's time this guy got squeezed, big time.

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.

42 posted on 02/27/2005 8:36:48 PM PST by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: jb6

"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?


43 posted on 02/27/2005 8:37:32 PM PST by Just mythoughts
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To: maestro

44 posted on 02/27/2005 8:37:43 PM PST by Nick Danger (The only way out is through)
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To: spyone

Yes, he is. He betrayed his own people during WWII. Now he is betraying us. We need to deport him.


45 posted on 02/27/2005 8:38:35 PM PST by Goodgirlinred ( GoodGirlInRed Four More Years!!!!!)
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To: jb6

What was the rational for getting off the gold standard again?


46 posted on 02/27/2005 8:40:28 PM PST by bahblahbah
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To: BearWash
Well, hmmm. There has to be some way to put him out of business. What exactly are his businesses?
47 posted on 02/27/2005 8:40:38 PM PST by Goodgirlinred ( GoodGirlInRed Four More Years!!!!!)
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To: Goodgirlinred
Oh. Kabellah? Isn't that what Madonna is into now?

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!

:-)

48 posted on 02/27/2005 8:40:40 PM PST by maestro
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To: ConservativeMind
Truthfully, it doesn't matter what the denomination is for oil

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?

49 posted on 02/27/2005 8:41:39 PM PST by JPJones (First and foremost: I'm a Freeper.)
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To: Nick Danger

LOL


50 posted on 02/27/2005 8:41:44 PM PST by maestro
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To: jb6

Well, if he is our enemy, why can't we do something about it?


51 posted on 02/27/2005 8:42:25 PM PST by Goodgirlinred ( GoodGirlInRed Four More Years!!!!!)
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To: jb6

Soros cannot control the dollar market.

so long as china maintains its currency peg, and the US trade deficit soars, the dollar will continue to fall. Break the chinese currency peg, and the dollar will settle into equilibirum.


52 posted on 02/27/2005 8:42:55 PM PST by oceanview
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To: jb6

I agree with Soros' quoted statements, but I see no explanation of how this negatively affects oil producers.


53 posted on 02/27/2005 8:43:19 PM PST by thoughtomator (Unafraid to be unpopular)
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To: maestro
Um, did you mean by "blonde is in the eye of the beholder" that I fit the sterotypical joke?
54 posted on 02/27/2005 8:45:45 PM PST by Goodgirlinred ( GoodGirlInRed Four More Years!!!!!)
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To: jb6

Strip your posts of the idiot fearmongering, and you're got nothing left.


55 posted on 02/27/2005 8:47:34 PM PST by Hoplite
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To: Just mythoughts

Well, with Hildabeast having a pretty good shot in 2008 (think how close Kerry came) and Billy Bob gaining the UN General Secretary position and Soros backing them, boy this first half of this centuary looks to be an epic horror flick.


56 posted on 02/27/2005 8:48:48 PM PST by jb6 (Truth = Christ)
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To: bahblahbah

We published to much money (I'd say issue but that denotes responsability) and gold was heading out the door, so we bought ourselves some more time to be irrisponsable by switching the rules of the game.


57 posted on 02/27/2005 8:49:57 PM PST by jb6 (Truth = Christ)
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To: JPJones

What matters is if the nations sell in Euro then all the importers dump the dollar to buy Euros. Euro value goes up, but the dollar might easily start a death spiral with our credit along for the ride, while the interest rates shoot up faster then the magic bean stock.


58 posted on 02/27/2005 8:51:35 PM PST by jb6 (Truth = Christ)
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To: Goodgirlinred
......that I fit the sterotypical joke?

No Way!

......Nothing personal!

I just really 'love' life,....and the 'beholding' of it all!

Thankfulness of/for the 'good' is very important to me.

/evil

59 posted on 02/27/2005 8:52:43 PM PST by maestro
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To: Russ
Is Soros the anti-Christ?

He's trying hard

60 posted on 02/27/2005 8:53:01 PM PST by GeronL (Condi will not be mistaken for a cleaning lady)
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