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
Which is still more then you have. I guess your Hadje is over, we missed you (not) for a while there.
I read somewhere that he has set out to put an end to all worship of God. Something about some group he had started.
Also that his offices in Russia were raided and he is no longer welcome in their country for some reason.
Then,....we'll have to create a 'Homeland Security Force' to keep law and order?
/sarcasm?
No there are enough Law and Order reruns to keep the public engrossed through any crisis.
Declaring himself Lord Grand Master above paying taxes or obeying laws had a lot to do with it.
Of course. Explains why I'm the one calling for backup.
I used this article during the run up to the election to show people who was behind the big push for kerry and how this Soros had set out to bring President Bush down. And why it was just one more reason why they should vote for President Bush. http://slate.msn.com/id/2096921
I'm not calling for back up, I'm writing to people who might be interested in your rantings, you should be honored. I can handle your jihadi shilling behind all by my lonesome, even while my kids bounce on my knees, if they weren't asleep.
....that's nice too!
:-)
Ping
And an euthanasia enthusiast and death culture financial promoter.
Just goes to show, jb6 - you need to get a license to drive a car, but anybody can have kids.
I've always thought that when Soros starts getting rid of all his dollars, he knows that Something Bad is going to happen.
You know, re-reading that article, I'd say Soros thinks we are in step 2 and he's trying to push step 3 into happening.
/Work Makes Free Soros....
Soros is just making an economic prediction, and one that has some merit, although nobody really knows.
And good Christian kids at that, the next generation is going to be ready for anything Islamic that crawls from your loins. But if you'd like, there are plenty of places that will perform a free Jihadi castration for you, to remove your worries.
In Saudi Arabia, towards the oil producing nations that can severly damage America if they switch to the Euro by causing a flood of dollars. Yup, just a "prediction". Sure.
Maybe it's time to return the favor!
(Metaphorically speaking, of course.)
--Boot Hill
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