Soros: ‘the dollar is a very weak currency except all the others’
Update 19 Jan 2010: In light of Euro weakness and the fissures in the Eurozone economy, one should how the dollar is going to fall precipitously as many have been arguing for months. The Chinese have pegged their currency, the Eurozone has its own problems, the Brits, Japanese and Swiss are running the printing presses.
George Soros does not see what the alternative to the dollar is right now. Yes, the Chinese are making noises about moving away from the dollar. But, this is a long-term strategy. Over the short-term, the Chinese still have trillions of dollar assets. What alternatives to the dollar are there?