THE REAL REASON WE ARE AT WAR!Bill Gates dumps dollar for euro....AS DID SADDAMWed Oct 19, 2005 17:0064.140.158.44
Wednesday, October 19
Bill Gates dumps dollar for euro
The dollar’s downward trend has not been broken since I wrote a column about the subject in December. (link) In fact, the trend seems to be accelerating. Bill Gates openly stated yesterday he is pulling out of the dollar and is instead investing in euros. Microsoft’s co-founder has made many mistakes in the past (I write this on an Apple computer, so I may be biased), but this is a wise move, indeed. He’s probably not the last one to pull out of the U.S. currency.
Bill Gates, whose net worth of $46.6 billion makes him the world’s richest person, is betting against the U.S. dollar.
“I’m short the dollar,” Gates, chairman of Microsoft Corp., told Charlie Rose in an interview late yesterday at the World Economic Forum in Davos, Switzerland. “The ol’ dollar, it’s gonna go down.”
Gates’s concern that widening U.S. budget and trade deficits are undermining the dollar was echoed in Davos by policymakers including European Central Bank President Jean-Claude Trichet and German Chancellor Gerhard Schroeder.
The dollar fell 21 percent against a basket of six major currencies from the start of 2002 to the end of last year. The trade deficit swelled to a record $609.3 billion last year and total U.S. government debt rose 8.7 percent to $7.62 trillion in the past 12 months.
“It is a bit scary,” Gates said. “We’re in uncharted territory when the world’s reserve currency has so much outstanding debt.” Bloomberg
THE REAL REASON WE ARE AT WAR!
TIME MAGAZINE NOVEMBER 13, 2000 - Page 34
SADDAM TURNS HIS BACK ON GREENBACKS
Europe's dream of promoting the euro as a competitor
to the U.S. dollar may get a boost from SADDAM HUSSEIN.
Iraq says that from now on, it wants payments for its
oil in euros, despite the fact that the battered
European currency unit, which use to be worth quite
a bit more than $1, has dropped to about 82 cents.
Iraq says it will no longer accept dollars for oil
because it does not want to deal "in currency of the
The switch to euros would cost the U.N. a small
fortune in accounting paperwork changes. It would also
reduce the interest earnings and reparations payments
that Iraq is making for damage it caused during the Gulf War,
a shortfall the Iraqis would have to make up.
The move hurts Iraq, the U.N. and the countries receiving
reparations. So why is Saddam doing it? Diplomatic
sources say switching to the euro will favor European
suppliers over U.S. ones in competing for Iraqi contracts,
and the p.r. boost that Baghdad would probably get in
Europe would be another plus.
-By William Dowell/ New York City
Saddam Turns His Back on Greenbacks
By WILLIAM DOWELL/NEW YORK CITY
The Euro And The War On Iraq
THE REAL REASON WE ARE AT WAR!
War for any other reason is simply a racket. There isn'ta trick in the racketeering
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