Edwynn
Posts: 4105
Joined: 10/26/2008
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quote:
ORIGINAL: popeye1250
quote:
ORIGINAL: Musicmystery
Huh?
I thought you righties loved when people can freely spend their money and their company's money on politics.
Why isn't THAT "economic terrorism"?
Have you notified the Supreme Court?
Music, I'm an Independant and I agree with you that people can spend their money on politics if they so wish.
But, like the Kennedys you have to look at where that money came from.
Soros collapsed the currencies of Maylaisia and Thailand in the 90's and he severely hurt the British pound and the British people .
And he was found guilty by a French court of insider trading.
A scumbag is a scumbag.
I wouldn't relish the task of trying to defend this scumbag.
And just as with Kennedy bashing, you have to look at the source and the agenda.
In the case of Soros, claims of his being the primary cause of the currency crises originated in Jewish Cabal conspiracy circles, with enough filtering and covering of tracks to lead to use of this false information by those not aware of its origin.
The Asian financial crisis had been building up for over four years, from a "financial liberalization" -> credit boom -> asset bubble scenario we should all be familiar with by now. Amidst all the turmoil Hong Kong was returned to China on July 1, and the baht was re-valued on July 2, 1997. All the western money had flooded the region in the early 90's and now everybody wanted to pull out at once over the uncertainty surrounding the handover, along with the other financial instability begot by their own contribution. Malaysian Prime Minister (at the time) Mahathir, known for previous anti-semitic comments, blamed Soros, as a Jew, for causing the currency crisis in his country, oblivious to the whole situation. He later retracted his accusations.
The ERM had the Deutsche Mark as the anchor currency. Germany does not like inflation, and when they raised interest rates in '92 the other European countries were reluctant to follow. Germany joined with the UK and France in currency interventions but when it could go no further they stopped. The ERM just didn't work and that was the case before the speculation got heavy. Britain's reluctance to either increase interest rates or allow the pound to float (exiting the ERM) too far beyond what was a foregone conclusion was what allowed for the great discrepancy reflected in the large short positions.
Soros had no more to do with the pound collapse than John Paulson had to do with the financial markets collapse we are in the midst of now.
< Message edited by Edwynn -- 11/14/2010 4:25:17 PM >
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