"on the verge of a very serious economic correction"
"I'm hoping to get all my assets out of U.S. dollars in the next few weeks or months"
Not exactly bullish sentiment from the co-founders of the Quantum fund.
The US economy is heading for recession and all the smart money has/is moving their cash out of USD assets. The recent dip in the AUD against the USD represented a great buying opportunity, and at 8900 it's still a buy. The US is due for a decent sized leg down, so it makes a lot of sense to position yourself for this. I am long AUD against the USD and I'm shorting the Dow. Don't forget that there are 3 Billion people in the sub continent and south east Asia and they are becoming a lot more independent of the US.