Recall all of the blog posts where I stated that I suspected that George Soros was probably involved in our current economic crisis?
There is comment post over at Free Republic with a link to a paper that tells of more examples of Soros' corrupt maneuverings in other nations' financial markets!
Islander 7 Comment quote:
Case Study: George Soros
The world’s undisputed king of applying this type of muscle is George Soros. The August 23, 1993 cover story of Business Week entitled “The Man Who Moves Markets” paints the picture of an investor whose manipulation of the press is matched only his ability to manipulate his financial empire. By far, Soros’ greatest gains, however, have been destabilizing currencies on the global market. Time and time again, when a nation is in a monetary crisis, Soros is there to give the currency the last nudge, and then profit as it plummets. He bet against Asian currencies in 1997 and the peso in 1994. Perhaps his most brash move was taking on the Bank of England in September of 1992.
England was in a precarious position in 1992. It had an agreement with other European nations to maintain its currency within certain bounds relative to the German mark under the ERM- Exchange Rate Mechanism- system. Economic troubles had reduced the true value of the pound, but still it was held at a rate of roughly three marks to the pound. Increasingly, England was being pressured to devalue the pound, despite treaties to the contrary. But when would they take an action so contrary to national pride? On Wednesday, September 16, Soros leveraged the entire $1 billion value of his fund, and was able to take a $10 billion position against the pound. The $10 billion bet against them was the final blow, causing the government to announce a devaluation. All told, Soros made $2 billion in profits on the trade, tripling the value of his fund, at the expense of the British government. Without a global network and precise timing to rely on, Soros could never have pulled such an extreme trade. The lesson is not to stop the development of global networks or inhibit technology growth, but to be aware of the new opportunities available to the most aggressive investors. Such assaults are clearly not in the best interests of the nations involved (Asia is still recovering from its currency crisis), and some sort of world leadership is needed to prevent individuals from destabilizing governments for their own profit.
More from commenter "imfrmdixie":2) The true story of Soros the Golem Executive Intelligence Review SPECIAL REPORT April 1997.
{p. 18} George Soros is not only one of the world’s leading megaspeculators; throughout his entire life up to this day, he has served as an “errand boy” for the Anglo-American monetarist establishment, running looting operations against the nations of Eastern Europe, as well as attacks against the sovereignty of nations ... in September 1992, “in an eyeball-to-eyeball confrontation with the Bank of England,” Soros destroyed the British pound and the Italian lira and made $12 billion in profit from his speculation, as he later bragged in an interview. ...
{p. 19} Using leveraged loans, Soros raised $40 billion to outspend the Germans. How he was able to do this, remains a mystery: first, there was the fact that a speculator like Soros is able to borrow on a margin of 5%, borrowing $1 billion for just $50 million. Second, Soros had ties to those very British oligarchic circles (epitomized by the Rothschilds) which wanted to undermine the Bundesbank, at the same time that they considered the pound sterling to be overvalued. Third, Soros had extensive lines of highly leveraged credit with banks like Citibank N.A., which is one of two custodians of Quantum. And, fourth, U.S. intelligence sources charge that Soros has access to a ‘hot money” crowd in Israel, politically associated with the Eretz Yisroel goals of Gen. Ariel Sharon. These provide some leads as to how Soros was able to beat the Bundesbank and destroy the ERM.
More from "IndianPrincess OK":Absolutely agree!!! Read this from Wikipedia on Soros. He mentions that he supports Obama and he worked hard to defeat Bush. Don't you know he will do whatever it takes to get O in. I find it not one bit a coincidence...no way. He has the fund, the hedge fund buddies, and he has the motive.....absolutely. Now, how do we deal with it? Here's what I found. Wikipedia does not allow you to post on FR. http://talkwisdom.blogspot.com/2008/09/sorosobama-scheme-to-financially.html http://dealbook.blogs.nytimes.com/2008/10/09/from-george-soros-to-a-bank-near-you/ George Soros (pronounced /ˈsɔroʊs/ or /ˈsɔrəs/,[2] Hungarian IPA: [ˈʃoroʃ]) (born August 12, 1930, in Budapest, Hungary, as György Schwartz) is a Hungarian-born American financial speculator, stock investor, philanthropist, and political activist.[3] Soros is famously known for "breaking the Bank of England" on Black Wednesday in 1992. With an estimated current net worth of around $9 billion, he is ranked by Forbes as the 99th-richest person in the world.[1] Currently, Soros is chairman of Soros Fund Management and the Open Society Institute and is also a former member of the Board of Directors of the Council on Foreign Relations. According to his own website, Soros claims his support for the Solidarity labor movement in Poland, as well as the Czechoslovak human rights organization Charter 77, contributed to ending Soviet Union political dominance in those countries.[4] His funding and organization of Georgia's Rose Revolution was considered by Russian and Western observers to have been crucial to its success, although Soros said his role has been "greatly exaggerated." In the United States, he is known for having donated large sums of money in a failed effort to defeat President George W. Bush's bid for re-election in 2004. On BookTV, November 12, 2007, he said that he supports Barack Obama for the Democratic candidate in the 2008 election, but says that John Edwards, Hillary Clinton, or Joe Biden are all fine candidates, as well.
Financial Transactions
HT: Free Republic: Is the market being manipulated in order to influence the election?