Wednesday, January 11, 2006

What the smart money is doing

Decisions by the world's two wealthiest men to
bet on a further weakening of the U.S. dollar,
coupled with China's lack of confidence in
American currency should grab the attention of
every working person, says Craig Smith, CEO of
Swiss America Trading .

Microsoft Chairman Bill Gates is following the
example of Berkshire Hathaway Chairman Warren
Buffett, who made a pretax gain of $412 million
in the fourth quarter of 2004 by buying foreign

Citing widening U.S. trade and budget deficits
and a federal debt of $7.62 trillion, Gates said
in a TV interview at the World Economic Forum in
Switzerland last weekend he expects the dollar to
extend its three-year decline.

"I'm short the dollar," Gates said, according to
Bloomberg News. "The ol' dollar, it's gonna go


"When I saw this quote, literally I had to catch
my breath," Smith said. "This is a clear-cut
signal that the people who know money are running
-- they are not walking -- in my opinion, they
are running from the dollar."

Now I'm sure I'm gonna get a lotta pissing and
moaning in the comments section about how the
rich get all the breaks and blaming them for all
the trouble you see.

Give it up. It's a tired ol' tune, pumped into so
many empty heads by the propaganda masters
to keep as many as possible distracted from the real
reason the money is running:

The Great Political Shell Game driving down its
value from the beginning as soon as it became
delinked from gold. Pols don't take kindly to
limits on their power for long and that's
originally what gold did.

And no, a gold-backed, government-produced currency
isn't the answer. What they do they can undo,
obviously. They did.