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Soros has insightful opinions regarding Orbán and the internal political struggle arising within the EU, but caveat lector: Soros has a large, literally vested

by ane 11y ago

Soros has insightful opinions regarding Orbán and the internal political struggle arising within the EU, but caveat lector: Soros has a large, literally vested interest in seeing the Euro collapse. That is to say, he has bet a huge amount of money on it collapsing. So he paints a bleak picture about the future of the Euro, because it is the future he desires.

jap 11y ago
Source?
- eps 11y ago
  Soros is a very manipulative gentleman looking exclusively after his own interests. When he says A it doesn't mean it's true, it merely means that saying A benefits him the best.
  - meric 11y ago
    But if he didn't think it would be true he'd bet the other way. Of course he's going to put his money on what he thinks/thought was going to happen. I can see how it's not true but I think it's likely he believes what he's talking about.
  - _yosefk 11y ago
    You're probably right (and you'll remain right if "Soros" is replaced with the name of many, many people), but I don't think you're the kind of source the grandparent asks for; I think they wanted evidence that Soros shorted the euro or something similar. Even if he's short the euro, it kinda seems that no single famous, connected billionaire can make or break the euro. It's, like, a really, really big, erm, thing. He ought to believe his bet to be correct rather than hope that him talking about it will move the market very much. So if he's indeed short the euro, I'd guess you're hearing his true opinion (which doesn't make him right, it's not like he's never lost money, it just probably means he's honest in this particular instance.)
    - feral 11y ago
      >Even if he's short the euro, it kinda seems that no single famous, connected billionaire can make or break the euro. It's, like, a really, really big, erm, thing. The euro is bigger than GBP, but: You do know he broke the British Pound, right? http://priceonomics.com/the-trade-of-the-century-when-george-soros-broke/ http://priceonomics.com/the-trade-of-the-century-when-george...
      - _yosefk 11y ago
        Your link says John Major instituted a fixed exchange rate regime and made pounds overpriced. Soros didn't even break the news (a German official did), he just made the most profit shorting the pound. I wouldn't call it "breaking the pound" unless you think the pound was priced about right and he made his profit manipulating the public opinion and thus moving the market. BTW, I found the interview rather trite; he's really full of it.
  - agumonkey 11y ago
    He also looks like a sith in a suit https://en.wikipedia.org/wiki/George_Soros#/media/File:George_Soros_47th_Munich_Security_Conference_2011_crop.jpg https://en.wikipedia.org/wiki/George_Soros#/media/File:Georg...
visakanv 11y ago
Could it be the other way around? Could it be that he sees the bleak picture, and bets his money accordingly?
- qb45 11y ago
  What's the difference? If somebody bets money on X, you can suspect he's more likely to work for X than against X.
  - Houshalter 11y ago
    If he didn't really believe what he was saying, he wouldn't have bet such a large amount of money on it. There is no reason to believe he is lying. Whether he is correct is another matter, but he's not "working for/against" anything, he's just stating his actual opinion.
- jballanc 11y ago
  Based on Soros' past, it's probably a combination of both. For example: https://en.wikipedia.org/wiki/Black_Wednesday https://en.wikipedia.org/wiki/Black_Wednesday . In the 90s he saw that the UK's commitment to prop up the Pound Sterling was ill advised, but he made sure that his short position paid off by systematically selling Pounds until the government had to renege on the exchange rate mechanism.

by ane 11y ago

jap 11y ago

Source?

eps 11y ago
Soros is a very manipulative gentleman looking exclusively after his own interests. When he says A it doesn't mean it's true, it merely means that saying A benefits him the best.
- meric 11y ago
  But if he didn't think it would be true he'd bet the other way. Of course he's going to put his money on what he thinks/thought was going to happen. I can see how it's not true but I think it's likely he believes what he's talking about.
- _yosefk 11y ago
  You're probably right (and you'll remain right if "Soros" is replaced with the name of many, many people), but I don't think you're the kind of source the grandparent asks for; I think they wanted evidence that Soros shorted the euro or something similar. Even if he's short the euro, it kinda seems that no single famous, connected billionaire can make or break the euro. It's, like, a really, really big, erm, thing. He ought to believe his bet to be correct rather than hope that him talking about it will move the market very much. So if he's indeed short the euro, I'd guess you're hearing his true opinion (which doesn't make him right, it's not like he's never lost money, it just probably means he's honest in this particular instance.)
  - feral 11y ago
    >Even if he's short the euro, it kinda seems that no single famous, connected billionaire can make or break the euro. It's, like, a really, really big, erm, thing. The euro is bigger than GBP, but: You do know he broke the British Pound, right? http://priceonomics.com/the-trade-of-the-century-when-george-soros-broke/ http://priceonomics.com/the-trade-of-the-century-when-george...
    - _yosefk 11y ago
      Your link says John Major instituted a fixed exchange rate regime and made pounds overpriced. Soros didn't even break the news (a German official did), he just made the most profit shorting the pound. I wouldn't call it "breaking the pound" unless you think the pound was priced about right and he made his profit manipulating the public opinion and thus moving the market. BTW, I found the interview rather trite; he's really full of it.
- agumonkey 11y ago
  He also looks like a sith in a suit https://en.wikipedia.org/wiki/George_Soros#/media/File:George_Soros_47th_Munich_Security_Conference_2011_crop.jpg https://en.wikipedia.org/wiki/George_Soros#/media/File:Georg...

visakanv 11y ago

Could it be the other way around? Could it be that he sees the bleak picture, and bets his money accordingly?

qb45 11y ago
What's the difference? If somebody bets money on X, you can suspect he's more likely to work for X than against X.
- Houshalter 11y ago
  If he didn't really believe what he was saying, he wouldn't have bet such a large amount of money on it. There is no reason to believe he is lying. Whether he is correct is another matter, but he's not "working for/against" anything, he's just stating his actual opinion.
jballanc 11y ago
Based on Soros' past, it's probably a combination of both. For example: https://en.wikipedia.org/wiki/Black_Wednesday https://en.wikipedia.org/wiki/Black_Wednesday . In the 90s he saw that the UK's commitment to prop up the Pound Sterling was ill advised, but he made sure that his short position paid off by systematically selling Pounds until the government had to renege on the exchange rate mechanism.