Will The Dollar Be Worthless Or Worth Less?

Publish date:
Updated on

Yesterday a Dow Jones newswire story ran a headline claiming that billionaire investor Warren Buffett had said the dollar will be "worthless" if the current account deficit continues. But the story itself said something very different.
"If our current account deficit keeps running at present levels, the dollar I think is almost certain to be worth less five to ten years from now compared to other major currencies," Buffett was quoted as telling a bunch of Canadians.
So had the Omaha Oracle really gone to a foreign land to declare worthless the currency of the land of the free? We have no idea. But this morning he went all Giselle on us and took it back, calling CNBC’s Becky Quick while he was on the air, to tell her that he was misquoted. The dollar is not going to be "worthless" he explained. It's going to be "worth less."
If you don't pause between the two words, the terrorists win.