Most Popular
1. THE INFLATION MONSTER is Forecasting RECESSION - Nadeem_Walayat
2.Why APPLE Could CRASH the Stock Market! - Nadeem_Walayat
3.The Stocks Stealth BEAR Market - Nadeem_Walayat
4.Inflation, Commodities and Interest Rates : Paradigm Shifts in Macrotrends - Rambus_Chartology
5.Stock Market in the Eye of the Storm, Visualising AI Tech Stocks Buying Levels - Nadeem_Walayat
6.AI Tech Stocks Earnings BloodBath Buying Opportunity - Nadeem_Walayat
7.PPT HALTS STOCK MARKET CRASH ahead of Fed May Interest Rate Hike Meeting - Nadeem_Walayat
8.50 Small Cap Growth Stocks Analysis to CAPITALISE on the Stock Market Inflation -Nadeem_Walayat
10.Apple and Microsoft Nuts Are About to CRACK and Send Stock Market Sharply Lower - Nadeem_Walayat
Last 7 days
The NEXT BIG EMPIRE WILL BE..... CANZUK - 25th June 22
Who (or What) Is Really in Charge of Bitcoin's Price Swings? - 25th June 22
Crude Oil Price Forecast - Trend Breaks Downward – Rejecting The $120 Level - 25th June 22
Everyone and their Grandma is Expecting a Big Stocks Bear Market Rally - 23rd June 22
The Fed’s Hawkish Bite Left Its Mark on the S&P 500 Stocks - 23rd June 22
No Dodging the Stock Market Bullet - 23rd June 22
How To Set Up A Business To Better Manage In The Free Market - 23rd June 22
Why Are Precious Metals Considered A Good Investment? Find Out Here - 23rd June 22
UK House Prices and the Inflation Mega-trend - 22nd June 22
Sportsbook Betting Reviews: How to Choose a Sportsbook- 22nd June 22
Looking to buy Cannabis Stocks? - 22nd June 22
UK House Prices Momentum Forecast - 21st June 22
The Fed is Incompetent - Beware the Dancing Market Puppet - 21st June 22
US Economy Headed for a Hard Landing - 21st June 22
How to Invest in EU - New Opportunities Uncovered - 21st June 22
How To Protect Your Assets During Inflation - 21st June 22
AI Tech Stocks Current State, Is AMAZON a Dying Tech Giant? - 20th June 22
Gold/Gold miners fundamental checkup - 20th June 22
Personal Finance Tips: How To Get Out Of A Tough Financial Situation - 20th June 22
UK House Prices Relative to GDP Growth - 19th June 22
Will Global Markets Be Pushed Deeper Into Crisis Event By The US Fed? - 19th June 22
Useful Things You Need To Know About Tweezer Top Candlestick Pattern - 19th June 22
UK House Prices Real Terms Sustainable Trend - 17th June 22
Why I’m buying the “new” value stocks… - 17th June 22
Optimize Benefits from R&D in Software Product Development with an R&D Tax Credit Software - 17th June 22
Want To Save On Your Business Energy? Here Are Some Helpful Tips - 17th June 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

George Soros Wants To Destroy the European Currency

Currencies / Euro Mar 06, 2010 - 01:26 PM GMT

By: Pravda


George Soros, a billionaire and philanthropist, was accused of masterminding the financial plot, the goal of which is to send the European currency, the euro, down.

The scandal connected with the plot against the euro started gathering pace last week after Soros published an article in The Financial Times. The billionaire wrote that the euro may not survive the current economic crisis. He said that he was not going to take part in the affairs on the currency market and would concentrate on investments in gold instead.

The crisis, Soros believes, unveiled serious flaws in the economic structure of the European Union. The countries of the euro zone were forced to rescue their banking systems individually. Some of the EU members, like, for example, Greece, could not handle the problem well. There are also Spain, Italy, Portugal and Ireland, the financial problems of which may trigger another crisis in the region. Soros concluded that the euro would most likely collapse if no decisive measures were taken.

It goes without saying that European officials did not like such statements at all. Soros passed from words to deeds: Soros Fund Management and several other large investment funds started selling the European currency very aggressively. The situation raised serious concerns with the prime ministers of Greece and Spain – the countries that were in need of the EU’s support most.

Their concerns were not groundless. In 1992, Soros succeeded in organizing a major currency speculation which triggered the collapse of the British pound sterling. The Wall Street Journal wrote that the reduction of the cost of the euro to the cost level of the US dollar was like the deal of life for stock exchange operators. Such affairs make billionaires.

Alexander Osin, a chief economist with Finam Management, said that the euro does not enjoy the best time of its history at the moment.

“In the long term, it will be difficult for the European states to pay their debts. They will of course take measures to support the currency, which may eventually result in its growing rate. But the growth will not cancel the debts. Unlike the USA – many countries work for American debts – Europe is left to itself. The future of the dollar looks much more stable than that of the euro at this point,” the expert said.

Komsomolskaya Pravda

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


06 Mar 10, 14:46
Socialist Soros

Did you know George Soros is:

- The 99th Richest Man on Earth

- A Felon

- Worked with NAZI's in WWII

- Implementing Worldwide Socialism

- The Man Who Broke the Bank of England

- The Man Who Bought the 2008 US Election

- Obama's Boss

Get the facts:

06 Mar 10, 17:24
Soros Nazi ?

Soros was born as a Jew in Hungary in 1930 so not exactly prime SS material.

Yes he chose to hide his religion so as not to be shipped off to poland.

fx fox
11 Mar 10, 16:27
no nazi and no socialism

dear soros is jew

and he talk about open society, not about socialism

He thinks that the socialism is a system oppressor ... and it is.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in