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To: ~digs who wrote (2070)	3/4/2006 7:49:19 PM
From: paret	Read Replies (1) \| Respond to of 7944

"otoh, i do not like his portfolio of insurance holdings" What specifically?

To: ~digs who wrote (2070)	3/4/2006 8:49:16 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 7944

Notice that the amount of silver that the new silver ETF would purchase is identical to the amount of silver held by BRK?

To: ~digs who wrote (2070)	3/4/2006 8:56:39 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 7944

Exactly. Buffett's dollar bet is a long-term one. Something that the knee-jerk Dumbya cultists cannot understand. Remember this is the same crowd that did the "Mission Accomplished" dance in mid 2003. And three years later, we (both ordinary Americans and ordinary Iraqis) are getting S.C.R.E.W.E.D in Iraq. You can't expect much perspicacity from the "Mission Accomplished" crowd, can you?! ------------------------------------------------------- June 20, 2005 Buffett still betting against the dollar Warren Buffett is holding fast with his bets against the dollar. The world's second-richest man began buying foreign currencies in 2002. So far this year, the dollar's 10 percent rise in the foreign currency markets has generated a $300 million loss for Buffett's Berkshire Hathaway Inc. Buffett says his belief that the dollar will weaken is unchanged. Here's how he put it when asked by Bloomberg News: ``There's no change in the underlying factors affecting currencies, in my view,'' Buffett said at press conference in Boise, Idaho, while attending a meeting of state utility commissioners. ``The policies that we're following are likely to lead to a weaker dollar over a long period of years. It's not a forecast for next week, or next month or even next year.'' For the first three months of the year, the U.S. current account deficit grew to a record $195.1 billion. The rise in the deficit increases the need for the U.S. to borrow more money abroad. Foreign investors pump about $2 billion a day into the U.S. economy by buying Treasury bonds and other securities. If the economy continues to expand, the current account deficit may increase as consumers buy more imports. As for Buffett, don't feel too sorry for him. The strategy has been profitable over the long-term. Berkshire's posted gains of almost $2.7 billion since Buffett first took his currency positions, Bloomberg says.

To: ~digs who wrote (2070)	3/5/2006 10:35:40 AM
From: Rarebird	Read Replies (3) \| Respond to of 7944

>>His bet agaist the dollar probably hasn't played itself out yet<< I agree. The approaching break in the US Dollar is best illustrated by the global commodity cycle. This boom in world commodity prices has happened many times before. Economically, there is nothing new here to see. The upsurge in global commodity prices is always the last in the sequence of economic events that always follow any extended credit expansion in the global business cycle. World commodities - especially oil - are still mainly priced worldwide in US Dollars. So far, the Euro has only advanced into the global areas of finance and direct, physical investment, in the process taking all these areas away from the US Dollar. Once world commodity prices start surging upwards, they can move with astounding speed. This is always followed by a massive upswing in ocean bulk freight rates. Both of these surges, in global commodity prices and ocean freight rates, have already happened. They are now behind us. Over recent months, world commodity prices have fallen sharply. So have ocean freight rates. Now, the world's commodity producers and traders are madly searching for the clearing prices, which will move these commodities. In economic terms, most of the trade still takes place on a worldwide US Dollar basis. The global crisis for the US Dollar will begin when (not if) the US Dollar loses its worldwide status as the main currency in which to trade commodities - especially oil. The Iranian Oil Bourse is scheduled to start trading oil in Euros on March 20. All other world commodities are certain to follow over time. When that happens, the US Dollar, having been displaced from another globally strategic area of the world's big markets, faces its final crisis. It will fall.