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Politics : Moderate Forum
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To: jttmab who wrote (19841)10/7/2005 12:32:19 PM
From: Sun Tzu  Read Replies (1) of 20773
 
I agree with Buffett, though I'd have left currency trading to George Soros, whom last I heard has been short USD for some years (he may be out now, I don't know).

The problem with the USDX as a worldwide confidence measure in USD is that it does not take into account the erosion of dollar against pegged currencies that by definition does not show up as drop in exchange rate but rather in the trade balance. So for example USD has not dropped against Saudi Rial at all, but we do have to give them a lot more dollars per barrel of oil than we used to (which would have been the same effect if they had a floating currency and were quoting us oil in SAR).
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