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.”
1 comment:
The greenback might surprise old Bill, so longs as:
1) Opec demands payment in dollars;
2) China keeps snapping up our debt.
If one of those two factors changes, it might plunge.
On the other hand, if the current account deficit continues out of control, it could plunge anyway. In that case, China might start to dump its dollar holding and stiop taking new positions; and Opec might start accepting euros, yen, or even rupis and yuan. In that case, score another one for Bill.
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