Posted on 08/21/2009 9:43:25 AM PDT by SonOfDarkSkies
As reported at Bloomberg.com, George Soros purchased an $811 million stake in Petroleo Brasileiro SA (PBR), (better known as Petrobras) in Q2. The Brazilian oil company is now the largest holding in his fund, amounting to 22 percent of the total $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC. Of course, crude oil has taken a dive in the last month, helping to push Petrobras down 28 percent since his purchase and costing Soros $235 million. I guess we would all like to be in a position to lose nearly a quarter billion dollars and still be "OK". Then again, if Soros holds tight, he could end up doing well.
While the timing for Soros may not be perfect for this trade, a number of other people are also betting on Petrobras. As quoted by Ricardo Kobayashi from UBS Pactual SA: "Petrobras has something that other oil companies don't have: oil - lots of it and they're going to find more. If you can buy now and hang on, if you have the staying power, it's great.''
(Excerpt) Read more at seekingalpha.com ...
Did I read that Obama has committed to loan Brazil money specifically for off shore oil drilling??
If so would Soros be a direct beneficiary?
Its like the Mafia. Soros probably knew the government was going to give that money to Petrobras, so he invests too. Knowing that the US govt has his back. He just happens to be the biggest funder of the left in America and a buddy of the President.
Heavy Corruption
And what’s POTUS’ excuse for why WE can’t drill offshore again?
I think, in any normal world, Soros would be tried for this transaction (insider trading, securities fraud...maybe even RICO).
If so would Soros be a direct beneficiary?"
It is the same company Obortion is lending (borrowed) money to!
Obortion is helping his financier-in-chief add to his coffers, which in turn adds to his own, since Soros is on the record as saying seeing the destruction of the United States is "them culmination of my life's work", and has therefore devoted his fortune to that end.
Without Soros' support Obama would still be mucking around in Chicago.
Soros, more than anyone else, has made it possible to take the Chicago mafia-style politics national, with their racially "untouchable" smooth talker as the titular head.
I thought Petrobras was an outfit that made ladies intimate wear out of polyester....
The same could easily be said of how Rahm Emanuel and David Axelrod got wealthy.
But with the media in on the crimes and a race-card President, the gang of Chicago thugs, for the moment, are impervious to justice.
Wrong guy, baby!!! Wrong guy!!! The puppet master is not subject to our laws. But the Sock Puppet in Cheifly to Soros is!!!
It IS Friday and that is just darn funny.
Whaddaya think polyester is made from?
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