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SOROS ALERT Soros 'speculating against dollar'
THE INDEPENDENT UK ^
| 28 November 2003
| Philip Thornton and Michael Jivkov
Posted on 11/28/2003 5:03:57 AM PST by Liz
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1
posted on
11/28/2003 5:03:57 AM PST
by
Liz
To: Grampa Dave; onyx; PhiKapMom; SierraWasp; BOBTHENAILER; PhilDragoo; A. Pole; TaxRelief; ...
EXCERPT: One hedge fund manager, who asked not to be named, said: "I have heard that both Soros and Buffett are shorting the dollar. There's a growing belief on Wall Street that the dollar is looking like a one-way bet downwards."
2
posted on
11/28/2003 5:11:51 AM PST
by
Liz
To: Liz
Good news for the economic recovery in the USA. Weak dollar means more tourism and more exports. More fuel added to the fire of recent high-growth-numbers.
Soros and Buffet are working overtime to re-elect Bush.
Thanks, guys.
3
posted on
11/28/2003 5:14:21 AM PST
by
samtheman
Comment #4 Removed by Moderator
Comment #5 Removed by Moderator
To: Liz
This might be a good time to remind everyone that Jim Smith, a regular guest on Cavuto's Saturday show, is the former partner of Soros. Smith has been consistently anti-war and negative on the dollar.
How nice that the President risks life and limb to meet the troops in Baghdad, while Soros does yeoman work to damage our economy so he can personally profit and give the money to the Dems. Is this a great country, or what?
6
posted on
11/28/2003 5:19:52 AM PST
by
Fracas
To: Fracas
The price of freedom is eternal vigilance.
I just "hope and pray" Soros is not doing anything illegal (snicker).
7
posted on
11/28/2003 5:25:04 AM PST
by
Liz
Comment #8 Removed by Moderator
To: Fracas
while Soros does yeoman work to damage our economy ....
_________________________________________________________
First of all currency markets are so complicated that unless you have a PhD in economics, you should hold your tongue.
Secondly, there is a great deal of debate even among noble prize winners with multiple PhDs as to the actual effects of the rise or fall of a currency. Yes, it does make exports cheaper and imports more expensive in the short term, but in terms of long-term interest rates it probably has no effect. Moreover, long-term avergaes tend to favour purchasing price parity. Plus, the US current account deficit virtually requires a temporarily weaker currency. The key is a gradual decline, not a crash.
Lastly, even if Soros switched every single cent he had out of dollars and into a different currency, his actual net worth would make negligible impact on the hundereds of billions of dollars that are bought and sold daily. The only thing he is capable of doing as a highly respected investor is to push or pull the electronic masses in one direction or another.
The man moved his money out of dollars long ago and is now fanning the flames to get the mindless investing sheep to increase his profit for him. All it takes are a few well placed words.
Just for the record, I am paid in Euros, so I think this is great! Everything is 20 percent off in the US.
Comment #10 Removed by Moderator
To: Liz
I hope these anti-American yellow-bellied spineless swine lose BIG TIME!!!!!!!!!
11
posted on
11/28/2003 6:29:42 AM PST
by
CROSSHIGHWAYMAN
(so it is written, so it is done)
To: samtheman
However...
Weakening US dollar deflates the value of foreign investment in the US. One of the major factors for US economic growth in the past has been the strong dollar policy, which attracted massive amounts of foreign investment, ie capital inflow.
12
posted on
11/28/2003 6:46:13 AM PST
by
adam_az
(.)
To: CROSSHIGHWAYMAN
If Merrill Lynch is predicting that the dollar will depreciate to 1.33 vs. the Euro and that the pound will soon hit 1.85, you can almost take it to the bank that such a thing will not happen. Merrill's track record in international trading is execrable.
13
posted on
11/28/2003 6:56:46 AM PST
by
gaspar
To: Liz
To put it another way. The Dims largest contributors are working to weaken the US economy, to give there puppets something, anything to run against Bush. I mean why would they have any reason to prop up the Euro?
The deficit?
France and Germany have just blown the whole fiscal sanity measures mandated when the Euro replaced their currencies. Their deficits, and national debts as a percentage of GDP, are much greater than that of the US, and with their social security and welfare systems even more out of whack than ours, there is no hope for any recovery
Economic Growth?
No country in Europe, except maybe Ireland and some of the Eastern European nations have a growth rate passing 2%.
Soros and Buffett are doing this for one reason and one reason only. To try to tank the US economy before the 2004 elections, and the Republicans need to get the word out.
14
posted on
11/28/2003 7:15:05 AM PST
by
sharkhawk
(I want to go to St. Somewhere)
To: Liz
I think since Soros is a citizen of the USA that the President and the BCIS revoke his citizenship and freeze his assets for being Anti-American. You know when you become a citizen of the USA you take an oath to protect the country. He has broken that oath. Therefore he's a traitor.
To: adam_az
Right now what we need is people who are willing to Buy America. A weaker dollar helps that.
To: Liz
Speculators can lose big.
Soros broke would be such a funny sight.
17
posted on
11/28/2003 7:28:28 AM PST
by
E. Pluribus Unum
(Drug prohibition laws help fund terrorism.)
To: samtheman
Investing in US business is another way of buying American, the kind that creates much more employment and impacts the economy in a greater fashion.
It's why Soros is trying to inhibit it...
Because he will do anything to make Bush lose the next election.
Soros isn't an idiot. Just a badguy.
18
posted on
11/28/2003 7:40:38 AM PST
by
adam_az
(.)
To: Liz; rohry; Wyatt's Torch; arete; meyer; DarkWaters; STONEWALLS; TigerLikesRooster; Ken H; ...
Ping and run, will check back tomorrow.
To: Liz
I just "hope and pray" Soros is not doing anything illegal (snicker). When I saw this article, it reminded me of those "unknown" investors who shorted airline stocks, and who knows what else, just before the 911 attacks.
I wonder now again who they were...
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