Article

2014-02-18 Economy

Obama Sponsor George Soros Bets Big on US Market Crash

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Omavising Ebbemp9815 2014-02-18 00:00|| || Front Page|| [11130 views ] Top

#1 You have to notice that G. Soros's idea of social justice (for that matter W.Buffett's as well) doesn't extend to not trying to steal everything that isn't nailed down. (I know, double negative, so shoot me.)

Posted by ed in texas 2014-02-18 07:10|| 2014-02-18 07:10|| Front Page Top

#2 The poor have nothing. The so-called middle class will soon have nothing, or even less. That leaves only the top ten percent and their IRS's and 401k's. It really was inevitable.

Posted by Besoeker 2014-02-18 07:35|| 2014-02-18 07:35|| Front Page Top

#3 That's the biggest democrat coffer and fake news creator right there. Doing to the US what he did to the Brits.

An evil, evil man.

Posted by newc 2014-02-18 08:29|| 2014-02-18 08:29|| Front Page Top

#4 Per Zero Hedge: "... the "Soros put", a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of 'reflexivity' and the founder of "open societies" may be anticipating some major market downside." <LINK>

In other words, Soros has been betting against the S&P for 3+ years. The news is that he has increased his position - The link also speculates that the trade may be portfolio insurance..

..but he's still a dick..

Posted by Uncle Phester 2014-02-18 08:37|| 2014-02-18 08:37|| Front Page Top

#5 You too can bet against the S&P and get twice the lift with the short ETF SPS. It was recommended just a few months ago by Forbes to have 10% of you portfolio in this type of fund to hedge against a collapse or correction.

If you do not have money tied up in the unfree market system then this is just abet for the inevitable.

Posted by Airandee 2014-02-18 08:45|| 2014-02-18 08:45|| Front Page Top

#6 But instead of gaining a mighty reputation for his philanthropy, or his investment prowess, Soros is reviled abroad and criticized here in his adopted country. Most everywhere Soros, his foundations or his investing have gone, trouble has followed. Hes helped foment revolutions, undermined national currencies and funded radicals around the world. Soros has been convicted of insider dealing in France and fined $3 million, fined another $2 million in his native Hungary. His foundations have been accused of shielding spies and breaking currency laws and his investing strategy has been targeted for harming several national currencies. Excerpt from: Soros, Godfather to Leftwing Radical Causes. Another piece discusses: Top 10 Reasons Soros is Dangerous. One of the 10 point involves John Podesta who stepped down from Center for American Progress to come on board with Obama. There has also been a revolving door between the White House and the Soros-funded think tank, with Obama staffing his administration with many CAP officials. Podesta joined Priorities USA, the pro-Obama super PAC that is likely to cozy up to Hillary Clinton's presidential campaign. ~~if she runs~~. It seems she has been running for some time now.

Posted by JohnQC 2014-02-18 09:23|| 2014-02-18 09:23|| Front Page Top

#7 The fines mentioned that were assessed to Soros are piffle. He spends more than that getting the oil changed in his private aircraft fleet. If you want do check out what the really big boys are doing, look here:
Federal and state authorities have chosen not to indict HSBC, the London-based bank, on charges of vast and prolonged money laundering, for fear that criminal prosecution would topple the bank and, in the process, endanger the financial system. They also have not charged any top HSBC banker in the case, though it boggles the mind that a bank could launder money as HSBC did without anyone in a position of authority making culpable decisions.
Clearly, the government has bought into the notion that too big to fail is too big to jail. When prosecutors choose not to prosecute to the full extent of the law in a case as egregious as this, the law itself is diminished. The deterrence that comes from the threat of criminal prosecution is weakened, if not lost.

In the HSBC case, prosecutors may want the public to focus on the $1.92 billion settlement, which includes forfeiture of $1.26 billion and other penalties, as well as requirements to improve its internal controls and submit to the oversight of an outside monitor for the next five years. But even large financial settlements are small compared with the size of international major banks.
--- I disengaged myself from the markets in August 2007 and hold only Treasury paper and cash now. Prefer not to do business with organized crime. I am somewhat surprised the system hasn't yet collapsed.

Posted by Anguper Hupomosing9418 2014-02-18 11:14|| 2014-02-18 11:14|| Front Page Top

#8 Given the Fed and Treasury have created out of thin air enough 'quantitative easing' to inflate the market to it present level, it's worth is about a third in 2005 dollars (as is your dollars to buy gas and groceries) already.

Posted by Procopius2k 2014-02-18 12:01|| 2014-02-18 12:01|| Front Page Top

#9 Meanwhile, back at the front line: 33-year-old banker leaps to his death from JPMorgans Hong Kong headquarters, latest in string of apparent suicides

Posted by Anguper Hupomosing9418 2014-02-18 12:13|| 2014-02-18 12:13|| Front Page Top

#10 it's worth is about a third in 2005 dollars
I have a years supply of TP, paper towels and US "Forever" postage stamps, the value of which is steadily increasing, which is somewhat consoling.

Posted by Anguper Hupomosing9418 2014-02-18 12:15|| 2014-02-18 12:15|| Front Page Top

#11 I heard that in WWII he saved his ass by turning in his Jewish neighbors.

Posted by irishrageboy 2014-02-18 16:22|| 2014-02-18 16:22|| Front Page Top

#12 Why hasn't someone punched his ticket by now?

Posted by Secret Asian Man 2014-02-18 18:22|| 2014-02-18 18:22|| Front Page Top

#13 He did turn in fellow Jews to the Nazis. He is a militant atheist, wants a single language (artificial one like Esperanto), single world government that is all powerful, that kind of crap.

As for now, I wishe he would die in a fire. Slowly. Screaming in pain. He deserves it for all the evil he has done, and the evil he promotes.

I'm not advocating assassination, but if it were to happen, I would applaud the same as I would for Stalin, Hitler, Mao, Pol Pot, etc.

Posted by OldSpook 2014-02-18 19:31|| 2014-02-18 19:31|| Front Page Top

#14 The fact that Soros is still stealing oxygen from the rest of us is proof that the James Bond books were fiction .... :-(

Posted by Barbara 2014-02-18 20:59|| 2014-02-18 20:59|| Front Page Top

#15 Folks in Thailand and Malaysia are still a bit peeved at George for manipulating and selling-short their currency in '97-'98.

P.S. He made a butt-load of money doing it.

Posted by Mullah Richard 2014-02-18 22:47|| 2014-02-18 22:47|| Front Page Top

23:29 Iblis
22:47 Mullah Richard
22:40 mossomo
22:39 mossomo
21:43 Omavising Ebbemp9815
21:30 Pappy
21:15 JosephMendiola
21:13 SteveS
21:11 JosephMendiola
21:09 JosephMendiola
20:59 Barbara
20:55 USN, Ret.
20:26 JosephMendiola
19:39 OldSpook
19:31 OldSpook
19:30 Alaska Paul
19:06 JosephMendiola
18:59 Airandee
18:22 Secret Asian Man
18:14 Secret Asian Man
17:37 Besoeker
17:36 Omavising Ebbemp9815
17:35 Besoeker
17:34 Besoeker