Saturday, March 05, 2005


Berkshire Hathaway: $20 Billion Short Vs. US$

The company that is the vessel of billionaire Warren Buffett has a serious short position on the US dollar, reports. "Mr Buffett’s bet against the dollar also grew. Foreign exchange contracts – mostly short positions against the US dollar – nearly doubled over the year to $21.4bn, generating $1.8bn in gains as the greenback fell against other major currencies."

Berkshire's majority shareholder has an ominous warning for the US. "A country that is now aspiring to an “Ownership Society” will not find happiness in “Sharecropper’s Society..But that’s precisely where our trade policies, supported by Republicans and Democrats alike, are taking us."

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