Any of your kids in these?
Oh and they're waiting for your atheist/Islamic souls at the end of this road.
Posted on 02/27/2005 7:59:17 PM PST by jb6
Or he's trying to facilitate it. Look who his audiance is.
Oh come on. :)
I think he's trying to facilitate it. That reporter had Soros pegged way back in March of 2004.
The Chinese are doing a nice job.
This man Soros is a really dangerous scoundrel!
http://www.pittsburghlive.com/x/tribune-review/opinion/datelinedc/s_143947.html
Well hooray for us then.
"The Chinese are doing a nice job."
They are a foreign government. It's a lot easier for a gov't to do (support their own currency) than a guy with a few billion dollars to maniuplate the dollar.
Additionally they can't support it forever. Cracks will appear a la Argentina and they will have to float their currency.
Any of your kids in these?
Oh and they're waiting for your atheist/Islamic souls at the end of this road.
M'kay?
.jpg)
soros ping
I think that a reasonable policy is to diversify - a given country should keep its reserves in a basket of currencies, let us say 40% dollars, 30% euros, 10% yens, 10% yuans, 7%pounds and 3% swiss francs. The percentage should be changed once a while depending on the health (trade and budget balance first) and size of the particular economies.
Yes you are correct in what he is trying to do. He's short the dollar but he may have miscalculated the dollar's true underlying strength.
The reason the dollar has weakened these past few years is because the Treasury and the Fed wanted it to be weaker, a little weaker. A little inflation was the better alternative than a prolonged collapse in the capital markets.
Japan and China need American markets to sustain their levels presently. The only way they can begin to wean themselves from the US market is to find other markets and those markets do not exist and will take a couple of decades to create.
The markets to be created are India and in China's case its own, meaning they have to raise the standard of living of the populations in India and China. When the latter happens the markets will have to drastically change because the goods will not be as cheap as labor costs must rise.
For now the USA is in a sweet spot and will be for quite some time.
As far as Soros, I think his shorting the US Dollar may be his Waterloo. It's time he lost a trade.
Excellent insight, thanks. Yes, it is a game of 'dare' and yes it's time he got squeezed.
I think several people answered your question already but I wanted to add in case no one else has yet, that the IRS can't look at Mr. Soros' books because they are kept by an offshore company that has no US citizens in its employ.
The IRS can only look at Mr. Soros's personal income taxes.
It does matter because oil producers keep large balances in banks that are denominated in dollars.
The balances in those accounts lose value when the dollar weakens against other currencies.
If Soros can convince those account holders to convert their dollars to Euros then he wins because he is short the dollar.
He hasn't yet but he's trying. It may be his downfall, the dollar may destroy him.
Dollar decline helps the Yen carry trade. Bond traders in the internation banking cartel making out very well.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.