buffet and fidel bet against the usd

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    Buffett increases bet against dollar to $19 bln

    NEW YORK, Aug 9 (Reuters) - Warren Buffett increased Berkshire Hathaway Inc.'s bet against the U.S. dollar to $19 billion at the end of the first half of 2004, his holding company disclosed in a regulatory filing.

    The value of the Omaha, Nebraska-based company's contracts in foreign currency had increased by $8 billion by June 30, the company said its quarterly filing with the U.S. Securities and Exchange Commission.

    Buffett previously disclosed making investments in five foreign currencies in a belief the dollar will decline in the long run as a result of the United States' ballooning trade deficit. He has never specified which currencies he was investing in, only saying they were major…. –END-

    Cuba Ends Use of Dollars in Businesses

    By ANITA SNOW, Associated Press Writer

    HAVANA - Moving to wean its communist economic system from the U.S. currency, Cuba said that dollars will no longer be accepted at island businesses and stores in a dramatic change in how commercial transactions have been done here in more than a decade.

    The resolution announced Monday by Cuba's Central Bank seemed aimed at finding new sources for foreign reserves and regain more control over its own economy as the U.S. government steps up efforts to prevent dollars from reaching the island as part of a strategy to undermine Fidel Castro (news - web sites)'s government.
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