How much you want to bet that he has money riding on the downfall of the world economy?
 Billionaire investor George Soros has given his gloomiest assessment of the state of the US and world economies.
He told BBC business editor Robert Peston that the “acute phase” of the credit crunch may be over but effects on the real economy are yet to be felt.
He warned the “financial bubble” of the last 25 years could be drawing to an end and the post World War II “super-boom” era could also be over.
He predicted a “more severe and longer” US slowdown than most people expect.
This is dangerous. When George Soros speaks, people in the markets listen. He made quite a bit of money, to the tune of billions, on currency speculation. Often, he was speculating that the currency of a country would go down. To quote Peter Schweizer in Do As I Say (Not As I Do) “When a nation’s currency crashes, hurting an entire country, Soros makes billions.” Sometimes he would speculate that one currency would go down as another went up, such as when he said he would not speculate on the franc, which went down because Soros published an article saying he wouldn’t, then the Dutch kroner went up. Yup, he had money riding on the kroner doing just that.
He seriously damaged Britain’s economy in 1992 by pulling this. This ultra-leftist shows his true stripes by caring not one but about the people that are harmed by his proclamations.
I’m just surprised he hasn’t pulled this stunt on the USA already. Interesting that the BBC missed the point of what they themselves end the article with
Mr Soros has credibility partly because he is prepared to invest his own money to back up his convictions.
The private investment fund he has resumed managing made a return of 34% last year betting that the credit crunch was more severe than many people expected.
Mr Soros was the man reported to have made $1bn in September 1992, betting correctly that the British currency would have to be devalued and leave the European Exchange Rate Mechanism.
Is it just me, or does the BBC, the official voice of Britain and her people, not understand exactly what Soros did to Britain?
