Posted on 02/22/2005 6:00:37 AM PST by Dane
Monday, Feb. 21, 2005 9:03 p.m. EST
Soros: Oil Exporters Behind Dollar Fall
The weakness of the U.S. dollar is no accident, billionaire George Soros says - it's the result of Russian and Middle East oil exporters switching some of their oil transactions from dollars to euros.
"The oil-exporting countries' central banks have been switching out of dollars mainly into euros, and Russia also plays an important role in this. That is, I think, at the bottom of the current weakness of the dollar," Soros told Reuters.
Speaking to delegates at the Jeddah Economic Forum in Saudi Arabia, the famous investor and political activist said that while he did not expect the dollar to continue to fall, the fate of the dollar could be tied to the price of oil.
Oil is now selling at about $50 a barrel, down from a high of $55.67 a barrel late last year.
"The higher the price of oil, the more the dollars there are to be switched to euros [so] the strength of oil will reinforce the weakness of the dollar," he told Reuters. "That is only one factor, but I think there is such a relationship."
Soros, a notorious currency speculator, also told the British news agency that the U.S. current account deficit could be financed at the current level of the dollar.
"There are willing holders of the dollar. There are the Asian countries that are happy to accumulate dollar balances in order to have an export surplus and a market for their dollars," he said.
Nothing this repulsive, vomitous mutant spews is of the slightest interest to me.
Funny how when a Dem/LIEb consorts with the Saudi's it's no big deal.
Just like their Donations to the Clinton LIEbrary.
almost sounds like he might be going long.
what i don't understand about soros is his socialism.
he's an opportunist who has made billions from speculating around the world and united states.
but he doesn't seem to have any respect for other people from whom he's benefitted.
Warren Buffet has the same outlook. When you have super wealth, you can make your own rules.
Soros, a self-styled citizen of the world who has spent billions meddling in the internal affairs of many nations has been credited with wrecking national currencies and toppling governments. George Soros has compared Bush to Hitler and told a European audience he was seeking "regime change" in the U.S. "America, under Bush, is a danger to the world, and I'm willing to put my money where my mouth is," Soros told the Washington Post.
Soros said he would spend all the billions of dollars in his personal fortune if he could be guaranteed that President Bush would be cast out of the White House.
soros and his socialist buddies(hillary, etc.etc) are the poster children of the saying from Animal Farm, of some people are more equal than others.
As Europe weaken under the strain of various ardently Socialist governments and an un-accountable central authority, the dollar will strengthen and the Sheiks, Soros and Putin will wish they had kept Bullish on the dollar.
May Soros die Euroless!
I'm not trying to defend his support of Kerry. Who can defend the indefensibile? But Soros was partially responsible for helping the fall of communism in many Eastern European countries. We hate him because he used his money against us in the last election, but I don't know if "socialist" is, in all honesty, a label that fits--at least not "communist."
yeah, there again i don't understand it.
buffet's politics seem to contradict his business practices. if his politics were in control, he'd never have made the money he has!
interesting, the day that katherine graham, the owner of the washington post, tripped and fell, and later died from her fall, she was playing cards with bill gates and warren buffet.
they seem to socialize with each other and the cancer spreads.
antonio gramsci promoted the idea of creating socialism by coopting the haute bourgeoise.
Be very wary of Soros. Soros managed to murder the last Conservative government in Britain and make millions at the same time through currency speculation.
Regards, Ivan
you're right. i'd forgotten about his involvement in the fall of communism.
but he's still a socialist.
i admit i don't understand the guy. maybe i need more information.
let that dollar "fall":-)--makin' that Ram Hemi's incentives all the more juicier on the pocketbook!
Cost me too as I was long the pound at the time, LoL. For THAT I will never forgive him.
Makes perfect sense to me. The only thing socialism has demonstrated to be very good at, is stopping people from becoming wealthy. If you are already wealthy, socialism locks in you gains and locks out potential competitors.
I'd like to pose this question to everyone, and it's not a joke. Could I have some takes on the difference between communism and socialism? I have some ideas, but it's something I've never totally figured out--maybe because there are so many similarities. Once again, I'm not being sarcastic, I'd like some sincere takes on this. Thanks.
According to Lenin "Communism is socialism plus electricity" ;-)
http://www.independent.org/newsroom/article.asp?id=8
LOL! I need a Hemi!
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