Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (19330)	5/20/2003 2:22:39 PM
From: RealMuLan	Read Replies (1) \| Respond to of 89467

>>OPEC is a Saudi BoardRoom, nothing more<< So what will be Saudi's reaction when and if the US withdraw Iraq from OPEC? I bet they won't be happy?

To: Jim Willie CB who wrote (19330)	5/20/2003 3:41:19 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 89467

If the Cheese Heads ever get the costs down...what will they accept payment in...? EURO's....? Loonies..? Gold..? T

To: Jim Willie CB who wrote (19330)	5/20/2003 3:53:08 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 89467

NEW YORK (Reuters) - Billionaire investor George Soros, in an interview with cable television station CNBC on Tuesday, said he was selling the dollar against most major currencies. In the wide-ranging interview in which he assailed the Bush administration's policies, Soros said he was buying the euro and the currencies of Australia, Canada and New Zealand against the dollar, as well as gold. The euro briefly broke above $1.17 following his comments before retreating. "I have to disclose that I now have a short position against the dollar because I listen to what the Secretary of the Treasury is telling me," Soros said in the interview. He referred to recent remarks made by U.S. Treasury Secretary John Snow that signaled a shift away from a strong dollar policy. Soros was sharply critical of Snow's policy shift, branding it a "mistake," and labeling it a wrongheaded attempt to stimulate the U.S. economy at the expense of other economies. "It's a beggar-thy-neighbor policy," he said. "I think (Snow) was somewhat irresponsible by talking down the dollar." Soros was dubbed "The Man who broke the Bank of England" for his role in amassing bets that the pound would fall in 1992 -- thus facilitating Britain's ejection from Europe's exchange rate mechanism that year. Though analysts say Soros' influence in markets has waned, many are reluctant to fight the trend that has seen the dollar fall sharply against major currencies. With the dollar already under pressure, traders sent the euro above $1.17 EUR= , a fraction of a cent from Monday's four year high at $1.1738 -- a hair below the single currency's launch price. Gold, meanwhile, set a three-month high at $370 an ounce. The Canadian dollar held a six-year high against its U.S. counterpart, trading near C$1.3476 CAD= , or 74.21 U.S. cents.