Thus, as Johnson states, "it is a polite way of betting against the dollar or, even more politely, on an appreciation of the renminbi."
By betting on commodities, Mr. Buffett is essentially taking an “oligarch-proof” stance. Powerful groups may rise to greater power around the world, fighting for control of raw materials and driving up their prices further. As long as there is growth somewhere in emerging markets, on some basis, Mr. Buffett will do fine.
Read the entire blog posting at Baseline Scenario.