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Posted on 08/08/2011 9:44:10 AM PDT by Nachum
A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating. Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market. There are mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved. He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.
(Excerpt) Read more at dailymail.co.uk ...
Spooky Nazi Dude?
“questions are being asked of whether the trader had inside information”
Remember that Congress exempted itself from insider trading laws, so it well could have been Pelosi or any member of Congress, and it would be perfectly legal. Don’t expect any interest from the MSM.
That would make sense, playing both sides of the fence...give disastrous advice to Obama while shorting them and at the same time say you are long Obama while laughing all the way to the bank.
The Dood-Frank bill, while many claimed it has provisions that “go after hedge funds”, to regulate just these kinds of transactions when hedge funds make them, has a provision that exempts a hedge fund if it is a closed “family fund” that others cannot join.
Guess who was in the process of converting his public hedge funds to just such a fund, when the ink was drying on Dodd-Frank, and has probably completed that transition by now?
I’ll give you a hint. His initials are G.S.
How did whoever it was get 10 to 1 odds? S&P said months ago that there was a 1 in 3 chance they would do what they did if we did not get our act together. There still saying there is a likelihood of further downgrades if nothing happens to improve our long term debt prospects. If someone is still offering 10 to 1 odds on a further downgrade, I’ll take that bet. Japan has had several downgrades already, why should we think we’re immune?
Soros like the DNC he owns both make money by devaluing things.
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