Crashing The Market For Obama?

iVillage Member
Registered: 10-01-2004
Crashing The Market For Obama?
10
Sun, 10-26-2008 - 9:36am

Known as an economic terrorist, is Soros - an Obama supporter - manipulating the market to help Obama?

Community Leader
Registered: 09-14-1997
Sun, 10-26-2008 - 9:45am
Although individuals can effect the market, I doubt that Soros is doing so for Senator Obama. Unless we really want to argue that the Hunt Brothers played their little trick to get Ronald Reagan elected? I don't believe that either.

iVillage Member
Registered: 11-11-1999
Sun, 10-26-2008 - 10:33am

Known as an economic terrorist, is Soros - an Obama supporter - manipulating the market to help Obama?

dablacksox


Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.

iVillage Member
Registered: 03-26-2003
Sun, 10-26-2008 - 11:34am

Among whom is Soros known as an "economic terrorist"?

What was the purported political goal of Soros' alleged crashing of the pound?

iVillage Member
Registered: 09-25-2008
Sun, 10-26-2008 - 11:39am

>>Known as an economic terrorist, is Soros<<


By whom is Soros known as an economic terrorist (well, besides you)

iVillage Member
Registered: 10-01-2004
Sun, 10-26-2008 - 8:10pm

$9 Billion in personal fortune can accomplish a lot; this would not be the first time Soros has used his personal fortune to accomplish political goals.


On Black Wednesday (September 16, 1992), Soros became immediately famous when he sold short more than $10 billion worth of pounds, profiting from the Bank of England's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.


Finally, the Bank of England was forced to withdraw the currency out of the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US$ 1.1 billion in the process. He was dubbed "the man who broke the Bank of England."


The Times of Monday, October 26, 1992, quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell."


According to Steven Drobny, Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. "Soros' contribution was pushing him to take a gigantic position," in accord with Druckenmiller's own research and instincts.


In 1997, during the Asian financial crisis, then Malaysian Prime Minister Mahathir bin Mohamad accused Soros of using the wealth under his control to punish ASEAN for welcoming Myanmar as a member. Later, he called Soros a moron. Thai nationals have called Soros "an economic war criminal" who "sucks the blood from the people".


Wikipeida

iVillage Member
Registered: 10-01-2004
Sun, 10-26-2008 - 8:29pm
Soros has publicly committed his personal fortune to achieving his political goals
iVillage Member
Registered: 09-26-2008
Sun, 10-26-2008 - 8:34pm
Better than that - google "Hunt" and "Silver"......
iVillage Member
Registered: 03-26-2003
Mon, 10-27-2008 - 2:39am
So he exploited a situation in the market to the hilt. You still failed to explain what the political goal in that was.
iVillage Member
Registered: 09-08-2008
Mon, 10-27-2008 - 4:18am

"Known as an economic terrorist"....Do terrorists take money from companies and then pressure committees to vote for their agendas? Then John McCain is your man....


((((((SBC Communications and Ameritech, two regional Bell operating companies that were seeking to merge....

iVillage Member
Registered: 04-17-2003
Mon, 10-27-2008 - 1:38pm

What a ridiculous notion!


This is the usual MO, can't post about a candidate and his ideas, just slam the other one.


This may come as a surprise to you, but millions of americans