Comments on: Why is George Soros Short the Euro? MUST READ! http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/ Fri, 25 May 2012 02:46:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: andrew http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1312081 andrew Fri, 26 Feb 2010 17:47:38 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1312081 i saw an explination about all of this in zeitgeist and it seemed pretty rational to me. the fact would be that we don't see the forrest, that being this modern form of slavery called the monetary system in which money which is fiat is prized over what is really and tangently real such as us helpless slaves. my mom worked for soros and now i see what he is really and what this unnatural but tought greed can induce in people. i say forget about this system and let's start fresh. there is nothing that we can do to sustain this aberation of society called capitalism. please share your opinions on the zeitgeist perspective as i die to hear what you have to say i saw an explination about all of this in zeitgeist and it seemed pretty rational to me. the fact would be that we don’t see the forrest, that being this modern form of slavery called the monetary system in which money which is fiat is prized over what is really and tangently real such as us helpless slaves. my mom worked for soros and now i see what he is really and what this unnatural but tought greed can induce in people. i say forget about this system and let’s start fresh. there is nothing that we can do to sustain this aberation of society called capitalism. please share your opinions on the zeitgeist perspective as i die to hear what you have to say

]]> By: LD http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152492 LD Wed, 04 Mar 2009 18:25:12 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152492 Tricia..."short the euro" means he sold this currency not having owned it in the expectation that it will fall in value.. Tricia…”short the euro” means he sold this currency not having owned it in the expectation that it will fall in value..

]]> By: KFaye http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152329 KFaye Wed, 04 Mar 2009 09:20:47 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152329 MBC, He is selling Euros short. Think of it this way -- He is selling Euros that he hasn't bought yet. He's betting he can buy them cheaper in the future to fulfill the sale. MBC, He is selling Euros short. Think of it this way — He is selling Euros that he hasn’t bought yet. He’s betting he can buy them cheaper in the future to fulfill the sale.

]]> By: AnnieCollier http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152317 AnnieCollier Wed, 04 Mar 2009 08:05:33 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152317 And his crooked wife should go right along with him for complicity and attempting to hide multi- millions in assets. While we're at it, throw all the relatives in jail who received the jewelry he mailed to them. Aiding and abetting...hiding over 1 million in assets. And his crooked wife should go right along with him for complicity and attempting to hide multi- millions in assets. While we’re at it, throw all the relatives in jail who received the jewelry he mailed to them. Aiding and abetting…hiding over 1 million in assets.

]]> By: JustMe http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152309 JustMe Wed, 04 Mar 2009 06:58:07 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152309 He did it in England he broke The Bank of England Black Wednesday it is known as http://en.wikipedia.org/wiki/Black_Wednesday Currency speculation On Black Wednesday (September 16, 1992), Soros became immediately famous when he sold short more than $10 billion worth of pounds, profiting from the Bank of England's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency. Finally, the Bank of England was forced to withdraw the currency from the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US$ 1.1 billion in the process. He was dubbed "the man who broke the Bank of England." The Times of Monday, October 26, 1992, quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell." According to Steven Drobny,[15] Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. "Soros' contribution was pushing him to take a gigantic position," in accord with Druckenmiller's own research and instincts. In 1997, during the Asian financial crisis, then Malaysian Prime Minister Mahathir bin Mohamad accused Soros of using the wealth under his control to punish ASEAN for welcoming Myanmar as a member. He did it in England he broke The Bank of England
Black Wednesday it is known as

http://en.wikipedia.org/wiki/Black_Wednesday

Currency speculation
On Black Wednesday (September 16, 1992), Soros became immediately famous when he sold short more than $10 billion worth of pounds, profiting from the Bank of England’s reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

Finally, the Bank of England was forced to withdraw the currency from the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US$ 1.1 billion in the process. He was dubbed “the man who broke the Bank of England.”

The Times of Monday, October 26, 1992, quoted Soros as saying: “Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell.”

According to Steven Drobny,[15] Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. “Soros’ contribution was pushing him to take a gigantic position,” in accord with Druckenmiller’s own research and instincts.

In 1997, during the Asian financial crisis, then Malaysian Prime Minister Mahathir bin Mohamad accused Soros of using the wealth under his control to punish ASEAN for welcoming Myanmar as a member.

]]> By: huh http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152308 huh Wed, 04 Mar 2009 06:55:31 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152308 Very good video about the relation of money and debt. 45 minlong. take s a few sec to begin. http://tinyurl.com/27jppm Very good video about the relation of money and debt. 45 minlong. take s a few sec to begin.

http://tinyurl.com/27jppm

]]> By: JozefAL http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152305 JozefAL Wed, 04 Mar 2009 06:46:46 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152305 I'm not really so much confused by the term "short the Euro" as I am by the bizarre grammar at play here. If "short the Euro" is a verbal clause, how IS Soros "short the Euro"? LD explained by using the participle gerund form ("shorting") in his explanation upthread, and John D's explanation involved the present tense ("when you short a security"). Even Patience used the gerund ("shorting currency"). So how does the title of this thread make any sense? "Why is George Soros Short the Euro?" I still don't know. Perhaps "Why DOES George Soros Short the Euro?" or "Why is George Soros SHORTING the Euro?" Sorry for the nitpicking, but why should I waste my time reading an article when the author can't be bothered to proof the freakin' title? I’m not really so much confused by the term “short the Euro” as I am by the bizarre grammar at play here. If “short the Euro” is a verbal clause, how IS Soros “short the Euro”?
LD explained by using the participle gerund form (“shorting”) in his explanation upthread, and John D’s explanation involved the present tense (“when you short a security”). Even Patience used the gerund (“shorting currency”).
So how does the title of this thread make any sense? “Why is George Soros Short the Euro?” I still don’t know. Perhaps “Why DOES George Soros Short the Euro?” or “Why is George Soros SHORTING the Euro?”
Sorry for the nitpicking, but why should I waste my time reading an article when the author can’t be bothered to proof the freakin’ title?

]]> By: TeakwoodKite http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152296 TeakwoodKite Wed, 04 Mar 2009 05:55:49 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152296 LD, If I get you, the hyper-debt is coming to a grocery store near me? What is the "ripple" that concerns you the most as it relates to the US markets and the Euro's malady? Are all those people who fled the dollar to Euro's in the 4th quarter of last year toast? If one looks at the global transfer of wealth as arteries and assigns some part of the human anatomy to represent economic organs...which is to be starved of oxygen first? The weakest link becomes a strongest force for social unrest. This, to me, is why "hope" as marketed by BO, is a mythical creature similar to unicorns. Looks cool hanging on the walls of the <a href="http://www.fordham.edu/halsall/medny/albertini2.html" rel="nofollow">Cloisters</a>, but is not real. I was very disconcerted by BO's remarks today about "day to day" market swings...yet he can't even acknowledge a simple fact that the market has TANKED out of the gate with him and he does not mention it. Yes, he gave lip service to long term investments but neglets to understand that increasing M1 thru z is not a cure for what ails us. Makes me think the only reason BO was smiling as he walked with the British Prime Minister was 'cause he knows that they are in a much worse position. LD, If I get you, the hyper-debt is coming to a grocery store near me?

What is the “ripple” that concerns you the most as it relates to the US markets and the Euro’s malady? Are all those people who fled the dollar to Euro’s in the 4th quarter of last year toast?

If one looks at the global transfer of wealth as arteries and assigns some part of the human anatomy to represent economic organs…which is to be starved of oxygen first?

The weakest link becomes a strongest force for social unrest. This, to me, is why “hope” as marketed by BO, is a mythical creature similar to unicorns. Looks cool hanging on the walls of the Cloisters, but is not real.

I was very disconcerted by BO’s remarks today about “day to day” market swings…yet he can’t even acknowledge a simple fact that the market has TANKED out of the gate with him and he does not mention it. Yes, he gave lip service to long term investments but neglets to understand that increasing M1 thru z is not a cure for what ails us.

Makes me think the only reason BO was smiling as he walked with the British Prime Minister was ’cause he knows that they are in a much worse position.

]]> By: Mandelay http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152279 Mandelay Wed, 04 Mar 2009 04:58:03 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152279 Larry, thank you for this post and the link to the amazing Mauldin-Jensen article. Larry, thank you for this post and the link to the amazing Mauldin-Jensen article.

]]> By: Patience http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152249 Patience Wed, 04 Mar 2009 03:29:03 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152249 Isn't this Soros' usual MO? Isn't he known for shorting currency? Maybe that's why the POTUS was his guy -- the more our president says and does, the worse the markets get. Isn’t this Soros’ usual MO? Isn’t he known for shorting currency?

Maybe that’s why the POTUS was his guy — the more our president says and does, the worse the markets get.

]]> By: Gary McGowan http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152239 Gary McGowan Wed, 04 Mar 2009 03:07:52 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152239 <blockquote>He bought what with what and sold it to whom and got what?</blockquote> He bought money, power and celebrity status. The cost to him: pledging his conscience/soul to the financially elite pushers of "free markets." "If I wasn't doing it, somebody else would," is his rationalization. <blockquote>He is like the mafia thug, without a real conscience, like a thug sent to kill a friend of yours, but only a hit-man for the really big financial interests, hired out to rob your friends, and you, of about everything, including your nation, and your personal freedom.</blockquote> <strong>"Firewall--In Defense of Nation State"</strong> video: http://newsbrowser.org/firewall/index.html Search "Soros Dossier" on Google.

He bought what with what and sold it to whom and got what?

He bought money, power and celebrity status. The cost to him: pledging his conscience/soul to the financially elite pushers of “free markets.”

“If I wasn’t doing it, somebody else would,” is his rationalization.

He is like the mafia thug, without a real conscience, like a thug sent to kill a friend of yours, but only a hit-man for the really big financial interests, hired out to rob your friends, and you, of about everything, including your nation, and your personal freedom.

“Firewall–In Defense of Nation State” video:
http://newsbrowser.org/firewall/index.html

Search “Soros Dossier” on Google.

]]> By: Sonic Ninja Kitty http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152236 Sonic Ninja Kitty Wed, 04 Mar 2009 02:58:35 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152236 Uh-oh, LD. When YOU get queasy it really makes me worried! :( Uh-oh, LD. When YOU get queasy it really makes me worried! :(

]]> By: MBC http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152213 MBC Wed, 04 Mar 2009 01:23:54 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152213 Ok, sorry to be a bone-head. What exactly did George Soros do in layman's terms...He bought what with what and sold it to whom and got what? Ok, sorry to be a bone-head. What exactly did George Soros do in layman’s terms…He bought what with what and sold it to whom and got what?

]]> By: John D http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152198 John D Wed, 04 Mar 2009 00:57:07 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152198 "Short" is the opposite of "long." When you long a security, you expect the value to rise, as well as your investment value. When you short a security, you expect the value to fall to turn in a profit. Shorting a stock or currency is usually dangerous, because you will have limited profit (you can only short to zero), but unlimited risk. And for savvy investors, short side usually is used as a hedge for the long. A mature market has both mechanisms to maintain liquidity, etc. Chinese stock markets don't allow for short selling, and the markets are notoriously choppy as compared those mature markets. Of course, the stock markets in the US are behaving like the markets in third world country lately, so it is hard to say. “Short” is the opposite of “long.” When you long a security, you expect the value to rise, as well as your investment value. When you short a security, you expect the value to fall to turn in a profit. Shorting a stock or currency is usually dangerous, because you will have limited profit (you can only short to zero), but unlimited risk. And for savvy investors, short side usually is used as a hedge for the long. A mature market has both mechanisms to maintain liquidity, etc.

Chinese stock markets don’t allow for short selling, and the markets are notoriously choppy as compared those mature markets. Of course, the stock markets in the US are behaving like the markets in third world country lately, so it is hard to say.

]]> By: Linda C. http://www.noquarterusa.net/blog/16127/why-is-george-soros-short-the-euro-must-read/#comment-1152196 Linda C. Wed, 04 Mar 2009 00:52:23 +0000 http://www.noquarterusa.net/blog/?p=16127#comment-1152196 It sounds like check kiting. Illegal for us ordinary people. It sounds like check kiting. Illegal for us ordinary people.

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