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Microcap & Penny Stocks : Rat dog micro-cap picks... -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (15951)	11/30/2003 11:10:44 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

I remember some many years back when the property in Tokyo was 'valued' more than the property in NYC, Chicago & LA combined... That was a good time to short Japan, and if I remember right, I did just that... I wonder if/who/why/to what extent- is shorting US now?? Which brings me to this, and as far as I read, he is shorting the USD> George Soros says he wouldn't be surprised if the dollar loses a third of its value over the next few years. The philanthropist and financier has told the Wall Street Journal that stock markets "could go much lower" too, if the US quickly slips back into recession - something he still hopes can be avoided. Mr Soros said that after years of rising against other major currencies, "it seems that the trend in the dollar has been reversed". The dollar has fallen by about 10% against the euro so far this year. Mr Soros said trends in currency markets tended to last for several years and involve major swings, so a drop of around a third in the dollar's value from recent levels "would not be unprecedented". He said investors outside the US had been rattled by news of corporate excesses and accounting scandals that led to the collapse of Enron and fraud charges against WorldCom. Mr Soros said things were being made worse by "the apparent unconcern" of George W Bush's administration, which he said had shown "no particular desire to do too much about" those excesses. He suggested the "savers of the world" had lost confidence in the Bush administration's management of the US economy, and were withdrawing their funds. According to Mr Soros, the dollar's fall has "some very negative implications" for the world economy - including the danger that it will frighten US consumers. _________________________________ 28 November 2003 It was Thanksgiving in the United States yesterday, but that didn't stop the dollar taking a further beating in foreign exchange markets. The latest rumour to feed the frenzy is that George Soros, the man who broke the Bank of England, has taken some sizable short positions in the greenback. Unsurprisingly, Mr Soros won't say, but you don't have to be a currency speculator as accomplished as Mr Soros to realise the dollar is a one-way bet right now. Nor would Mr Soros's lack of faith in the medium-term outlook for the dollar come as any surprise to anyone who has read his thoughts on President George Bush. Ensuring that Mr Bush is defeated in the next year's presidential election "is the central focus of my life", he was quoted as saying in The Washington Post. "It is a matter of life and death." The 74-year-old financier's opposition to Mr Bush is based on his belief that "Bush is a danger to the world" rather than that he may be mismanaging the US economy. In any case, what Mr Bush is trying to do with the economy is perfectly obvious; he's pump priming it for a second term, knowing that once home and dry, he can repent at leisure for the present profligacy. Is Mr Bush, then, a long-term danger to the US economy too? The US is growing faster than almost anywhere else right now, but it doesn't fool the currency markets. About the only foreigners still buying dollar assets are the Chinese and the Japanese, who must keep their own currencies weak against the dollar to support the competitiveness of their US exports. Everyone else seems to be a seller. If there is no foreign funding for the ever-growing US trade deficit, then the US currency must fall until trade is brought back into balance.