To: Kenneth E. Phillipps who wrote (407858 ) 5/20/2003 6:47:40 PM From: sylvester80 Respond to of 769670 Soros says he’s selling the dollar at 1:54 PM ET because of the Bush administration's policies, so at 3:01 PM ET the U.S. raises their terror alert level. Let's not think about the sorry state of the economy that Bush through his policies has made a heck of a lot worse but rather concentrate only on terrorism and how he is going to save us. ======================================================= Soros Says He's Selling the Dollar Tuesday May 20, 1:54 pm ET 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. ======================================================= U.S. Raising Terror Alert; FBI Warns of Attack Updated 3:13 PM ET May 20, 2003 WASHINGTON (Reuters) - The U.S. government is raising its terror alert status to the second-highest level because of the renewed risk of terrorist attack in the United States, U.S. officials said on Tuesday. The decision to raise the alert level to "high" or "orange" from "elevated" or "yellow" on the color-coded scale was made at the White House at a meeting of top national security officials after a review of recent intelligence, a senior official said. The Homeland Security Department was to make the official announcement later on Tuesday afternoon. The FBI said earlier in the day that recent suicide bombings in Saudi Arabia and Morocco could lead to an attack on the United States, though it said it had no specific threat information. "Recent intelligence suggests that attacks may be a prelude to an attack on the United States," the FBI said in a message sent to law enforcement agencies across the country. "However, the FBI possesses no information indicating a specific threat in the United States." As the latest warning was released, Homeland Security Secretary Tom Ridge met with President Bush. Then the Homeland Security Council was convened at the White House to discuss raising the color-coded terror alert. U.S. officials said the "chatter" picked up by intelligence agencies from eavesdropping on communications of terrorism suspects continued to be at levels of concern. "It's up there. It's not insignificant," one official said. But the threats were not specific about where or when another attack might occur. White House spokesman Ari Fleischer said earlier that the administration was concerned in the light of suicide bombings in Saudi Arabia last week that have been blamed on al Qaeda. "We have concerns about whether or not there are threats that go beyond Saudi Arabia," Fleischer said. "And discussions are under way." The last time the government raised the terror alert to orange, its second-highest level, was on March 17, on the eve of the war with Iraq when officials feared potential retaliatory terror attacks on the United States. The alert was lowered back to "elevated" one month later, on April 16.