Bill Gates Dumps Dollar For Euro

Does Bill know something we don’t?
I will stick with my few ounces of gold anyway

Bill Gates Dumps Dollar For Euro

Snip~~

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.”

www.sebimeyer.com...

Someone want to figure how much he just lost?

The euro bought $1.1926 in late European trading - down from $1.2035 in New York late Monday.

U.S. Dollar Rises Against the Euro






seekerof

never doubt the power of the greenback. the dollar is still one of the most secure wen u invest. as long as there is political and military and economic stability behind it, u dont have ani worries.

Originally posted by Seekerof
Someone want to figure how much he just lost?

Short term thinking there...

Warren Buffet is doing the same thing (read about it a while back).

The full effects of decreased oil & gas production as well as refinning capacity from this hurricane season is not being felt yet, thanks to the use of reserves and increased imports of refined product from Europe.

When winter cold comes in full force the recession will be well underway. Recession always follows an oil shock. Don't be surprised to see GM declare bankruptcy within a year. You know the saying... "What's good for GM is good for the US" ... two way street.
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Originally posted by Gools

Originally posted by Seekerof
Someone want to figure how much he just lost?

When winter cold comes in full force the recession will be well underway. Recession always follows an oil shock. Don't be surprised to see GM declare bankruptcy within a year. You know the saying... "What's good for GM is good for the US" ... two way street.
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But now its way harder for "Joe Blow" to file and prove.

money.cnn.com...

What you should know about the law, which will make it tougher for consumers to clear their debts.

Originally posted by Gools
Short term thinking there...

Maybe, maybe not.
You see, assumptions breed further assumptions. As such, assuming here, but if the Euro keeps falling, as it has been currently for the last 14+/- months, Mr. Gates, as with Mr. Buffet, stand to lose some serious chump-change.

Warren Buffet is doing the same thing (read about it a while back).

As mentioned above, assumingly, the same applies to him as it would for Mr. Gates.

The full effects of decreased oil & gas production as well as refinning capacity from this hurricane season is not being felt yet, thanks to the use of reserves and increased imports of refined product from Europe.

From the article I linked:

The dollar rose to a 4-1/2 month high against the euro on Tuesday after U.S. Federal Reserve Chairman Alan Greenspan said the impact from the spike in energy prices after the Gulf Coast hurricanes will not be as severe as from the oil shocks of the 1970s.

When winter cold comes in full force the recession will be well underway. Recession always follows an oil shock. Don't be surprised to see GM declare bankruptcy within a year. You know the saying... "What's good for GM is good for the US" ... two way street.

As was mentioned: assumptions breed further assumptions.
Your assuming that most of the US will have a cold enough winter to warrent an assumed recession. You further are assuming that GM will declare bankruptcy, correct? I understand the point your making, but its simply based upon assumptions. I will add my own assumption in that maybe this winter will pretty much be a mild winter and not cause a recession, and that GM may not file bankruptcy. If such assumptions hold true, more than likely the US economy will continue rolling along, and the Euro will continue to slide, thus Mr. Gates and Mr. Buffet continue to lose massive amounts of chump-change.






seekerof

[edit on 20-10-2005 by Seekerof]

Assumptions... yes they are.

I guess time will tell who's assumptions are correct.

For what it's worth, Alan Greenspan has little credibility for me personally.

There is no way that the one-two Katrina Rita punch coupled with political instability (indictments anyone?) is going to have little effect IMO. See: Rita causes record damage to oil rigs.
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Get ready for 2006 because that is when the prices on heating oil and the inflation is going to impact our economy with a chain reaction.

Right now retailers are starting the sales for Christmas early and if you have some money you can get big deals. Why?

Because 2006 is going to be a bad year for the American economy.

Is a reason why many big business man like Mr Gates and many others are doing the change, in preparation for what has being in the making for quite sometime.

I am not a rich person so I guess I will sink with the boat.

Originally posted by marg6043
Get ready for 2006 because that is when the prices on heating oil and the inflation is going to impact our economy with a chain reaction.

Because 2006 is going to be a bad year for the American economy.

I am not a rich person so I guess I will sink with the boat.

You're going to get a lump of coal in your stocking because of all your liberal views. So take it, and be grateful. At least you can burn it for fuel.

im guessing he made the switch now because its the cheapest and hes betting its not going to go down any further.

Am I the only one that finds it funny when someone with 46 billion dollars worries about 1 dollar.

I wish I had those worries.

bill gates is an ass and should be kicked out of America. this is treason.

Originally posted by jsobecky

You're going to get a lump of coal in your stocking because of all your liberal views.

So take it, and be grateful. At least you can burn it for fuel.

He, he, I got a fire place and taking in consideration that I don't have to worry about Bill Gates millions I am very sad for my retirement funds.

well it appears Gates is not the only one who is bailing out.

Tom Barrack is selling most of his U.S. portfolio.

The king of real estate's cashing out
Tom Barrack is selling most of his U.S. portfolio. Maybe you should be nervous too.
October 22, 2005: 6:05 PM EDT
By Shawn Tully, Fortune Senior Writer

Snip~~

Arguably the best real estate investor on the planet, he runs a $245 billion portfolio of trophy assets, from the Raffles hotel chain in Asia to the Aga Khan's former resort in Sardinia to Resorts International, the largest private gaming company in the U.S.

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Right now, Barrack's view of the U.S. market couldn't be clearer: It's a great time to sell, and a terrible time to buy.

In fact, he sees signs of the tech bubble mentality in real estate. Too much capital is chasing real estate, he explains, with hedge funds, private equity groups, and rich investors all bidding on the same properties. "They've driven prices to the point where the yields on high-quality properties are like the returns on bonds, around 5 percent or 6 percent," says Barrack. "That's too low."



money cnn com

Originally posted by deltaboy

never doubt the power of the greenback. the dollar is still one of the most secure wen u invest. as long as there is political and military and economic stability behind it, u dont have ani worries.

by mid 2010 the dollar won't be wort the paper its printed on! bet me!

Simply a smart hedge and any intelligent company via their CFO or high net worth individual by his or her asset management team....

why....

because most of Gates billions are in dollars - you take a short futures or options position i.e. sell dollars on margin and if they go down you've hedged the dollar based assets as their value goes down but you make back the value via the futures or options gains. If dollar goes up - you are screwed on the short sale but dollar based assets have gone up in value....

Any international company does this regularly (read daily...) as would any firm doing significant business overseas either via importing or exporting.

Originally posted by nb25
bill gates is an ass and should be kicked out of America. this is treason.

Yeah, he should be burnt at the stake and publicly flogged. The cheek of the guy.