Posted on 09/17/2004 4:16:25 AM PDT by genefromjersey
If any of you are familiar with "financial markets",currency speculation, etc.,I am trying to figure out what is meant when an article in a financial journal says an individual "took a massive short position against the US dollar."
I'm not naming the individual (for Google search reasons),but he has reportedly been associated with a 1992 attack on the British Pound,a 1997 attack on the Thai Baht,and a 1998 attack on the Russian Ruble.
Rather than tie up a thread,I'd appreciate it if you would use the "direct reply" option (reply privately).
Thanks !
A short position is a bet that the price will go down... so someone is betting big the price of the US dollar will drop, or in the case of Soros, is trying to trigger it.
and if you have enough money, you can manipulate the market and force it down by scaring the bejezus out of long investors.. Which is what Soros did.
Nobody has to manipulate the dollar, the damage has already been done by our consumerist, debt ridden society. The dollar is poised for collapse when China gets tired of paying huge premiums for oil and finally de-links the remimbi from the dollar.
BUMP
You don't have to name him. We know who you're talking about. Anyone who takes an interest in currency markets knows who you're talking about. The billionare Hungarian who's trying to thwart an American presidential election.
You're talking about George Soros. Even though he's big, he's nowhere near big enough to move Dollar/Euro. He could bet his entire fortune and it wouldn't do much more than move $/€ about 20 basis points for a half an hour.
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