Monday, March 28, 2011

Omaha's finest says.............

On Friday, March 25, 2011, Warren Buffett predicted the decline of the U.S. dollar.


In a speech given in New Delhi, the chairman of Berkshire Hathaway warned investors to avoid "long-term fixed-dollar investments" such as 10-year U.S. Treasury bonds. Buffett worries that the $2.3 trillion in new money our government has pumped into the economy, when combined with interest rates so low they're practically giving money away, are combining to dilute the value of the dollar.  As a result, Buffett warns: "If you ask me if the U.S. Dollar is going to hold its purchasing power fully at the level of 2011, 5 years, 10 years or 20 years from now, I would tell you it will not."

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