The. Warren Buffett spoke to CNBC, saying:
“Unless we have a major change in trade policies, I don’t see how the dollar avoids going down,” Buffett, 74, said in an interview with CNBC today. “I don’t have any idea if it’s going to be this month, next month or next year.”
The forecast suggests Buffett, who runs Berkshire Hathaway Inc., is still wagering against the currency. Omaha-Nebraska- based Berkshire earned $412 million in the third quarter on $20 billion of foreign currency contracts. A weakening dollar threatens to accelerate inflation, he said.
I think he’s saying something between the lines here, the dollar is already going down. Maybe he’s hinting at the entire economy finally collapsing into depression?
Anyways, do what this guy does (invest in foreign funds that are pulling the rug out from under the bloated dollar) and you’ll not only weather the upcoming storm, you’ll actually come out ahead.
Of course, I’m not a broker so talk to one before you do anything.