Soros on Brexit today saying some of the stupidest shit I have ever heard.
He says te pound could crash 20% and Britain would be plunged into recession.
Soros gives three reasons
1. Bank of England won't be able to lower rates because they're already too low.
Huh??? Last I checked Britain has an independent central bank that operates in its own sovereign currency. Rates may be low, but that does not preclude the BOE from lowering them even more or making them negative if they want. Monetary policy in the U.K. is independent of whether or not Britain remains in the EU.
2. Britain's current account deficit is big so they will have a hard time getting "cash inflows."
Straight from the mouth of someone who obviously believes that Britain is still on the gold standard. This is completely asinine. "Cash inflows???" Come on.
3. A weaker pound won't help British exports because of uncertainty over trade treaties.
Right. When in doubt these fools always wheel out the "too much uncertainty" arguments. Like certainty is good. The only things that are certain is death and taxes and both are unpleasant. Yes, treaties would have to be renegotiated, but that's not likely to shut down trade in the interim.
There you go folks. An old fool, completely out of paradigm. You fade him every time as well as people like him and you will absolutely clean up.
13 comments:
Of course what the Soros lovers fail to mention is it wasn't Soros that 'broke' the Bank of England, it was the Bundesbank failing to hold up its end of the bargain. But knowing that would require study and understanding of exchange systems.
Soros was just lucky enough to spot that when there was a patsy in the market and exploited it, and from that people then think he knows something.
The question you have to ask yourself if the £ is going to take a massive fall on Friday is ... who is on the other side of the trade? And what do they know buying £s that you don't?
Random, was it luck? Or more likely did he know the Bundesbank would desert the BoE, knowing that it would force the UK out of the ERM? Like so much else about him and what he says, the image and the reality are at odds.
https://youtu.be/t8GTHXTEvIc
Did he get paid for his words of wisdom?
When Soros and Rothschild agree on dissing Brexit as the end, you know that they are talking their book and it would be good on balance for ordinary folks.
Maybe he rather thinks it would be bad for all of his Open Society BS Tom....
Soros's "Open Society" is neoliberalism so he can grab up privatized public assets as fire sale prices. Soros is the guy bankrolling regime change for that purpose.
Soros at work undermining Russia and promoting a crony as a puppet to take over and bring by the cowboy capitalism of the Yetsin years so the can pick the place clean. Khodorkovsky is a blight on Russia and Soros is a blight on humanity.
Soros supports Khodorkovsky against strengthening Russia
Well then you better hope Trump wins....
The problem is that if Trump wins the US will have a Supreme Court that will set the country back by a hundred years.
There is just no acceptable choice between the candidates of the two parties.
So whatever the outcome the country is screwed.
Random,
it was the Bundesbank failing to hold up its end of the bargain
Is there a good summary of events, which includes this aspect of what happened?
"Is there a good summary of events, which includes this aspect of what happened?"
There's a half decent documentary made by the BBC about the events. They don't go into the Bundesbank very heavily, but there's enough evidence there to show that they left the BoE trying to hold back a shitstorm by itself. To be fair, it was understood by everybody that the UK pound should have been not as strong as it was when it entered the ERM, and that political decision made life difficult afterwards.
The Bundesbank had intervened with other currencies, but for whatever reason dropped the pound like a bad habit. Their explanation doesn't ring true (that by this time it was pointless to intervene), and we may have to wait some time before we find out the truth. I don't know what the rules are on freedom of information are in Germany. Whatever they are, when the truth comes out it'll be very different to what we've been led to believe.
Anyway, here's the documentary: https://www.youtube.com/watch?v=K_oET45GzMI
I have read and researched some information about the Pound crashed by Soros and apparently it wasn't his skills not more than INSIDE INFORMATION because previous to that his hedge fund was almost an ordinary one and suddenly after that Soros became like a GOD OD HEDGE FUND INDUSTRY. And recently his calls have been terrible bad and if we could access his track record I'm pretty sure most of his MEDIA ATTENTION WOULD BLOW OFF
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