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> Well, he is an investor who has a history of causing financial damage to whole countries by betting against their currencies Whole countries? I have heard of

> Well, he is an investor who has a history of causing financial damage to whole countries by betting against their currencies Whole countries? I have heard of only one - the infamous british pound. And that too it caused the GBP rates to fall but then financial damage to Britian as a country? What is your source exactly?

briandear 8y ago
Bank of Thailand: https://www.businessinsider.com/how-george-soros-broke-the-bank-of-thailand-2016-9 https://www.businessinsider.com/how-george-soros-broke-the-b... Soros wasn’t alone, but the hedges funds certainly helped crush Thailand in 1997, triggering the Asian financial crisis. It’s not a stretch to suggest that his massive funding of political groups in countries in which he has bet against the currency is connected.
- thisisit 8y ago
  Thanks for the reference. It was an interesting read: Yet Soros wasn't the biggest single speculator to hold a position against the currency. Julian Robertson's Tiger Fund had three times the exposure of Soros with almost $3 billion bet against the baht. If anything, Julian Robertson would have been more motivated to engineer Thailand's decline. It seems there were only rumors that Soros had anything to do with it, all the while someone else was more profitable than him. And given that he was already famous for the GBP trade why not blame him? What is interesting is that people don't seem to understand the consequences of pegs. It is much easier to paint a picture of greedy investor. But in most cases it has nothing to do with the investor and all up to the central banks. Something similar happened in the swiss franc and here's what happened to Soros: https://www.zerohedge.com/news/2015-01-23/how-swiss-national-bank-almost-crushed-george-soros https://www.zerohedge.com/news/2015-01-23/how-swiss-national...
  - astronautjones 8y ago
    > It seems there were only rumors that Soros had anything to do with it, all the while someone else was more profitable than him. And given that he was already famous for the GBP trade why not blame him? because it's a conservative, anti-semitic trope. he is the ur-villian, the mega boss after people tire of you complaining about the clintons. it's been this way for twenty years

briandear 8y ago

Bank of Thailand: https://www.businessinsider.com/how-george-soros-broke-the-bank-of-thailand-2016-9 https://www.businessinsider.com/how-george-soros-broke-the-b... Soros wasn’t alone, but the hedges funds certainly helped crush Thailand in 1997, triggering the Asian financial crisis. It’s not a stretch to suggest that his massive funding of political groups in countries in which he has bet against the currency is connected.

thisisit 8y ago
Thanks for the reference. It was an interesting read: Yet Soros wasn't the biggest single speculator to hold a position against the currency. Julian Robertson's Tiger Fund had three times the exposure of Soros with almost $3 billion bet against the baht. If anything, Julian Robertson would have been more motivated to engineer Thailand's decline. It seems there were only rumors that Soros had anything to do with it, all the while someone else was more profitable than him. And given that he was already famous for the GBP trade why not blame him? What is interesting is that people don't seem to understand the consequences of pegs. It is much easier to paint a picture of greedy investor. But in most cases it has nothing to do with the investor and all up to the central banks. Something similar happened in the swiss franc and here's what happened to Soros: https://www.zerohedge.com/news/2015-01-23/how-swiss-national-bank-almost-crushed-george-soros https://www.zerohedge.com/news/2015-01-23/how-swiss-national...
- astronautjones 8y ago
  > It seems there were only rumors that Soros had anything to do with it, all the while someone else was more profitable than him. And given that he was already famous for the GBP trade why not blame him? because it's a conservative, anti-semitic trope. he is the ur-villian, the mega boss after people tire of you complaining about the clintons. it's been this way for twenty years