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.
"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?
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.