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. :winkwink:

Everything is fine.

Everything is fine.

:1orglaugh

Now let's look at some figures:

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

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.

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.

Interesting.

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