For The First Time Ever - GoFuckYourself.com

r0oster · 01-18-2004, 12:48 PM

Warren Buffett is moving his billions in assets out of US Dollars.

But I'm sure one of the richest men in the US doesn't really know what he's doing, and just got to where he is today by being lucky.

And don't worry, the US is all powerful, nothing can ever go wrong, deficits, debt, outsourcing...etc... don't matter.

Everything is fine.

Everything is fine.

Now let's look at some figures:

<img src="http://i.timeinc.net/fortune/images/fortune/magazine/2003/20031110/tra_truthconq_chart_760x360.gif">

cluck · 01-18-2004, 12:56 PM

He was a fool to hold onto USD for this long. Whenever you look at the graphs pure technical analysis tells you "it has to go up, it's impossible for it not to".

Of course it's going nowhere but down.

BRISK · 01-18-2004, 12:59 PM

http://www.nynews.com/newsroom/01180...severbank.html

BRISK · 01-18-2004, 01:01 PM

Quote:

The trade deficit as a share of U.S. gross domestic product has increased to 4 percent from 1 percent since the 1970s, "and foreigners own a staggering $2.5 trillion more of the U.S. than we own of other countries,"

r0oster · 01-18-2004, 01:04 PM

There seems to be this widely held belief in the US that deficits don't matter.

Some believe the Reagan years proved that.

The thing is, the world is quite different now compared to 20 or so years ago. The state of the US economy is quite different now compared to 20 years ago.

What may have worked 20 years ago for whatever reasons is not guaranteed to work now.

It's a risky game US policy makers are playing.

And when you take into consideration that OPEC is considering (and has been openly talking about) moving oil transactions away from US Dollars, things can really start getting shaky for the US Dollar.

But most in the US seem to have this false conviction that "everything will turn out right".

Until it doesn't.

Most people thought stocks could only go up until around 1999.

Now look at the market.

Time to bill in Euros, and move your assets away from the $. ASAP.

r0oster · 01-18-2004, 06:00 PM

Quote:

Originally posted by BRISK
http://www.nynews.com/newsroom/01180...severbank.html

Interesting.

I was trying to read more about this at Fortune.com but all the good stuff's in the "Subscribers Only" section.

01-18-2004, 12:48 PM	#1
r0oster Registered User Join Date: Jan 2004 Posts: 66	For The First Time Ever Warren Buffett is moving his billions in assets out of US Dollars. But I'm sure one of the richest men in the US doesn't really know what he's doing, and just got to where he is today by being lucky. And don't worry, the US is all powerful, nothing can ever go wrong, deficits, debt, outsourcing...etc... don't matter. Everything is fine. Everything is fine. Now let's look at some figures: <img src="http://i.timeinc.net/fortune/images/fortune/magazine/2003/20031110/tra_truthconq_chart_760x360.gif">

01-18-2004, 12:56 PM	#2
cluck Confirmed User Join Date: Dec 2002 Location: New Jersey Posts: 5,248	He was a fool to hold onto USD for this long. Whenever you look at the graphs pure technical analysis tells you "it has to go up, it's impossible for it not to". Of course it's going nowhere but down. __________________ icq 279990726 www.mcdonalds.com <- great money making opportunity

01-18-2004, 12:59 PM	#3
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	http://www.nynews.com/newsroom/01180...severbank.html __________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

01-18-2004, 01:04 PM	#5
r0oster Registered User Join Date: Jan 2004 Posts: 66	There seems to be this widely held belief in the US that deficits don't matter. Some believe the Reagan years proved that. The thing is, the world is quite different now compared to 20 or so years ago. The state of the US economy is quite different now compared to 20 years ago. What may have worked 20 years ago for whatever reasons is not guaranteed to work now. It's a risky game US policy makers are playing. And when you take into consideration that OPEC is considering (and has been openly talking about) moving oil transactions away from US Dollars, things can really start getting shaky for the US Dollar. But most in the US seem to have this false conviction that "everything will turn out right". Until it doesn't. Most people thought stocks could only go up until around 1999. Now look at the market. Time to bill in Euros, and move your assets away from the $. ASAP.