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> Soros largely caused the problem No he didn't, Soros exposed the problem of pegging a currency to an exchange rate they couldn't hold; a problem created by
by gnaritas 11y ago
> Soros largely caused the problem
No he didn't, Soros exposed the problem of pegging a currency to an exchange rate they couldn't hold; a problem created by the Bank of England. You seem to think quoting an article you just read is educating me, it isn't; I'm a trader, Soros billion dollar trade is legendary among traders, I've known about it for years and you're clearly not educated in what he did or what it means. The problem here was the Bank of England pegging the currency, not Soros profiting from their inability to maintain that peg. The bad guy here is the Bank of England, not Soros.
And no, the Koch's are evil because they actively spend enormous amounts of money doing everything they can to destroy the political process and suppress votes, destroy the planet and deny climate change, and just generally prove themselves to be utterly disgusting and repugnant human beings who only care about maintaining their own power. They are the literal personification of the evils of excessive wealth.
Nor are the Koch's by any standard champions of the free market. The Koch's are crony capitalists eager to spend their billions messing with the political process to gain favor and legal protections for their businesses. This isn't championing a free market by any stretch of the imagination.
You won't find Soros doing that shit. Shit you're trying to sell his trading as being bad precisely because you can't find much else to call him bad for despite the fact that his billion dollar trade is in no way him being bad.
- mikeyouse 11y agoI'm not accusing the person you responded to of it since he clearly doesn't know that much about the history of trading, but there was certainly a whole lot of "evil Jew broke the bank" innuendo around Soros's trade as well. Soros couldn't have broke the bank by himself, there were billions of additional dollars pouring into the short since it was long clear that the BoE couldn't maintain the peg, but only Soros is singled out.
- gnaritas 11y agoYea, people are just ignorant of the details and think "billion dollar trade" sounds bad. As if one guy could bring down a whole country because he just wanted to.
- CWuestefeld 11y agoYou seem to think quoting an article you just read is educating me It's true that my knowledge of trading is from my personal experience in my own investments. However, you're exhibiting precisely the same kind of blinders about the Kochs. It's clear that you don't understand their political positions, or exactly what they've done, you're just jumping on the partisan bandwagon.
- gnaritas 11y ago> It's clear that you don't understand their political positions, or exactly what they've done, you're just jumping on the partisan bandwagon. Whatever lets you sleep at night bud. Couldn't be that I actually dislike them, oh no, it must be because I'm partisan or I don't understand them.