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To: Richard Poe
"..Under French law, Soros could have been jailed for two years, but the French let him off with a $2.9 million fine..."

Too bad France didn't jail him!

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 out of 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 October 26, 1992, Monday 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,[9] 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. Later, he called Soros a moron.[10] Thai nationals have called Soros "an economic war criminal" who "sucks the blood from the people".[11].."

To bad Soros did not die in a Thai prison or shot by one of his many financial victims.

5 posted on 11/05/2007 4:09:08 PM PST by Anti-Bubba182
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To: Anti-Bubba182

Soros is still wanted in Russia for currency tampering.

They busted his offices in Moscow back in 2001 and put most of the workers there in jail, but Soros was conveniently raping some other European currency in some other country, I think it was France.


30 posted on 11/06/2007 4:05:29 AM PST by Westbrook
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