Article

2009-01-20 Britain

Sterling's finished, says Soros partner as the pound plunges to new low

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Posted by tipper 2009-01-20 11:32|| || Front Page|| [2 views ] Top

#1 What is the point of having a license to kill if you can't take out people that screw with your monetory system for their own profit?

Posted by rjschwarz 2009-01-20 11:45|| 2009-01-20 11:45|| Front Page Top

#2 Mr. Soros was extremely involved (negatively) in the Southeast Asia currency crashes of the late 1990s. Maybe he was just practicin'.

Posted by Mullah Richard 2009-01-20 14:00|| 2009-01-20 14:00|| Front Page Top

#3 Sounds like the classic hedge fund 'Jedi Mind Trick'.
You buy up a huge short position in a company, then go on tv and say that you have information that it is going to tank. Viola! Self-fulfilling prophecy.

Posted by bigjim-ky 2009-01-20 14:34|| 2009-01-20 14:34|| Front Page Top

#4 I agree that Soros is about the most dangerous character since Ernst Stavros Blofeld.

Posted by Anonymoose 2009-01-20 15:33|| 2009-01-20 15:33|| Front Page Top

#5 Get rid of leverage (100-400X for Forex), get of rid of the ability of speculators to destroy a currency. Same for stocks, financials and commodities.

Posted by ed 2009-01-20 15:51|| 2009-01-20 15:51|| Front Page Top

#6 Soros made his money when the Pound was forced out of the EMS. There is no EMS this time and the UK wants a depreciating currency. It allows it to export its competitive problems.

This time around it's Ireland, Spain, Greece and probably Italy that need to depreciate and are stuck in the Euro. Interest rate differentials across Euro countries say the Euro (zone) may break within weeks.

Posted by phil_b 2009-01-20 16:34|| 2009-01-20 16:34|| Front Page Top

#7 "Euro (zone) may break within weeks"

What's the downside, phil?

Posted by Barbara Skolaut">Barbara Skolaut 2009-01-20 18:11|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2009-01-20 18:11|| Front Page Top

#8 I always wondered how separate economies with different fiscal policy can live with one currency and monetary policy.

Posted by Hellfish 2009-01-20 18:40|| 2009-01-20 18:40|| Front Page Top

#9 Hellfish, what do you think the US and Mexico are doing?

You can spend dollars anywhere in mexico, try spending pesos in the states.

Posted by bigjim-ky 2009-01-20 18:47|| 2009-01-20 18:47|| Front Page Top

#10 bjky,

I see what you're saying but it's not the same thing. "Educated" folks combined a currency and monetary policy but not fiscal policy. How did they plan on controlling growth and inflation in every country?

With the US and Mexico it is just the result of a semi failed state at the border of one not-yet-there.

Posted by Hellfish 2009-01-20 19:40|| 2009-01-20 19:40|| Front Page Top

23:58 DLR
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23:15 trailing wife
22:53 Barbara Skolaut
22:46 Eric Jablow
22:37 Ming the Merciless
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22:31 Halliburton - Mysterious Conspiracy Division
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