George Soros, the Democratic Party’s Progressive Puppet Master , is often referred to as the “man who broke the bank of England” in the 1992 Sterling crisis. During that crisis, he made $1 billion in one day at the expense of British taxpayers. At the time Soros was suspected of dealing based on inside information.
The rumor then was that Soros was acting on insider information obtained from the French central bank and the German Bundesbank. The insider information was that they would not support the British pound, despite a pre-existing arrangement to do so.
Given that Mr. Soros is no fool, the British believe it is highly doubtful he would have made such a colossal bet without knowing with great certainty that the Germans would not reduce their interest rate.
Soros, a self-admitted Nazi collaborator, has a reputation for trading on confidential information obtained from political sources. For instance, he was convicted by a French court of having insider knowledge about a takeover attempt of a major French bank. His conviction was upheld in 2006, and he had to pay a multimillion-dollar fine.
The latest financial scuttlebutt is that the man who broke the Bank of England is at the center of a hedge fund plot to cash in on fall of the Euro
George Soros is said to be placing large bearish bets against the single currency
A secretive group of Wall Street hedge fund bosses are said to be behind a plot to cash in on the decline of the euro.
Representatives of George Soros’s investment business were among an all-star line up of Wall Street investors at an ‘ideas dinner’ at a private townhouse in Manhattan, according to reports.
A spokesman for Soros Fund Management said the legendary investor did not attend the dinner on February 8, but did not deny that his firm was represented.
At the dinner, the speculators are said to have argued that the euro is likely to plunge in value to parity with the dollar.
The single currency has been under enormous pressure because of Greece’s debt crisis, plus financial worries in Portugal, Italy, Spain and Ireland.
But, it has also struggled because hedge funds have been placing huge bets on the currency’s decline, which could make the speculators hundreds of millions of pounds.
The euro traded at $1.51 in December, but has since fallen to $1.34. Details of the secretive dinner emerged days after Mr Soros, chairman of Soros
George Soros is not an investor but a financial predator who preys on the distress of others. This is the guy who is pulling many of the strings of progressive movement of the Democratic Party.