• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

obama, corzine, soros

Help Support Ranchers.net:

redrobin

Well-known member
Joined
Dec 19, 2009
Messages
1,236
Reaction score
103
Location
arkansas
The trinity of evil.

Tags: soros | corzine | mf | italy | euro | bond
Soros Takes on Corzine’s European Bond Bet

Friday, 09 Dec 2011 12:34 PM

By Dan Weil


Often in financial markets, one investor’s loss is another’s gain. That’s what hedge fund legend George Soros is hoping, as five weeks ago his family fund bought about $2 billion of European government bonds formerly owned by MF Global Holdings, The Wall Street Journal reports.

The bond positions – mostly in Italian debt – were created by MF Global at the behest of its then-CEO Jon Corzine. MF Global had more than $6 billion of European bonds before blowing up in October, when those positions plunged.

Soros bought the bonds from accounting firm KPMG, MF Global's bankruptcy administrator in London. Earlier this year, Soros Fund Management put some of its holdings into safe, liquid investments, which provided it with the cash to buy the European bonds.
___________________________________________________________


Knowledgeable sources told the Journal that Soros purchased the bonds below their then-market value. Soros still holds the bulk of what he bought, and may be in the black, they say.

Soros is taking the same gamble that Corzine did, betting that Italy won’t default on its debt before the bonds mature in December 2012, (JUST AFTER THE ELECTION ) or at least before he sells them. That essentially means Soros is betting that the euro won’t collapse.

He’s taking a risky stance, given the European Central Bank’s unwillingness to act as a lender of last resort to struggling member nations. The crisis has shown signs of spreading to France and Germany. And many banks already have adopted contingency plans for a dissolution of the euro.

To be sure, Italian bond prices have mostly risen in recent days, with the yield on 10-year government bonds standing at 6.5 percent Friday, even after rising from Thursday, down from more than 7 percent last week.

On Friday, European leaders announced yet another plan to stem the crisis, but economists and investors questioned whether it will be enough.

Perhaps the most important plank of the proposal was an authorization for euro zone nations to give the International Monetary Fund up to 200 billion euros ($268 billion) in bilateral loans. That money could then be used by the IMF to make loans to the beleaguered nations of Italy and Spain, the euro zone's third- and fourth-biggest economies.

But economists and investors said that aid may provide little more than temporary relief to the mushrooming crisis. Moreover, Italy has expressed reluctance to accept aid from the IMF.

"It's not the grand bargain some people had been hoping for," David Mackie, an economist at J.P. Morgan, tells Reuters. "A door has been opened with the IMF channel, but some people may say that 200 billion euros is simply not enough."
 

Steve

Well-known member
Joined
Feb 13, 2005
Messages
16,547
Reaction score
0
Location
Wildwood New Jersey
Soros may be the biggest political fat cat of all time. Convicted in France of insider trading, Soros specializes in weakening or collapsing the currencies of entire nations for his own selfish interests. He is known as the man who broke the Bank of England. His power is such that his statements alone can cause currencies to go up or down. Other people suffer so he can get rich.

Soros signed a consent decree in United States District Court, in a Securities and Exchange Commission case involving stock manipulation, and was fined $75,000 by the Commodity Futures Trading Commission for holding positions “in excess of speculative limits.” Stories about Soros rarely, if ever, mention any of his legal problems.

Despite his vision of an “open society,” he operates an unregulated “hedge fund,” open only to the super-rich, and is currently fighting a proposal from the Bush-appointed chairman of the Securities and Exchange Commission to regulate and monitor these offshore entities. House Speaker Dennis Hastert said on national television that no one really knows where the Soros money comes from.

you could call him the liberals "POT" ("Democracy is hypocrisy without limitation.") and Obama could well be the top kettle... but that would be considered racists so it can't be....

sadly one of his "plans" backfired on the democrats, allowing unlimited corporate money to flood our political stage...

In a recent article about his growing financial and political clout, the Washington Post sanitized Soros by claiming that he “funded efforts to reform campaign laws, decriminalize marijuana and change [the] criminal justice system.” All of that is misleading, if not false. His “reform” of campaign laws left a loophole that will enable him to set a record “for the most money donated by an individual in an election cycle,” to quote the Post itself. So where are the investigative stories into Soros and his agenda?

and now the liberals whine that money is buying elections,.. when it is their dirty money and unconstitutional laws that enabled that same money to buy liberal influence for so long...
 

Tam

Well-known member
Joined
Feb 10, 2005
Messages
12,759
Reaction score
0
Location
Sask
What amazes me is how the Democrats have continuely talked/b*tched about Corporations having a right to donate to candidates and how they are BUYING the elections for the Republicans, but they never seem to have a problem with the UNIONS BUYING the elections for Democrats. I guess the Corporations are to just sit back and let the puppets that the Unions support destroy the US economy and bankrupt anyone that dares stand up against them. :roll:

They also b*tch about the Billionaire Koch Bros buying the elections for Republicans but not a word about Billionaire Soros and the millionaire Hollyweirds buying the election for Obama. Seems if you are one of the horrid 1%ers you better be donating to a Democrat if you know what is good for you. Otherwise your name will go on a hit list and your name will be drug through the mud and your reputation destroyed. :x
 

Steve

Well-known member
Joined
Feb 13, 2005
Messages
16,547
Reaction score
0
Location
Wildwood New Jersey
Left That Outspent Republicans 3-1 Now Whining That Republicans Are Outspending Them: ‘The End Of The USA As We Know It Just Happened!’

Noting they got outspent $34 million to $4 million, he said, “This was the biggest election in America.” Becoming more emotional, he went on to say, “Democracy died tonight.” Acknowledging he’s “very emotional,” he broke into tears, saying, “This was it. If we didn’t win tonight, the end of the USA as we know it just happened.”

all Wisconsin proved was you still can't buy an informed voters vote..

but back to the whiners..


How terrible was it when Obama was outspending John McCain by 3-1 and even by as much as 5-1???? Oh, it was a good thing, then. Great for democracy, you know.

Q: Who spent more money on advertising, McCain or Obama?

A: Overall, Obama has outspent McCain by nearly 3-to-1, but in the closing week it’s been closer to 5-to-1.

Obama’s choice to turn down public financing and McCain’s choice to accept public financing limits it helped create a relatively large campaign fundraising disparity.
and the source,.. liberal funded fact check... http://factcheck.org/2008/11/advertising-money-mccain-vs-obama/

So democracy was safe when Obama opted to choose cash over principles.. but not now when the Unions were outspent..

wait,.. the media didn't count the union money..
Not so fast. As it turns out, labor unions spent an additional $21 million on the recall election. When it came to state senate recall elections back in September 2011, Democrats outspent Republicans $23.4 million to $20.5 million.

throw in a few million under the radar and it starts adding up...
he National Education Association (NEA), American Federation of State, County and Municipal Employees (AFSCME), and the Service Employees International Union (SEIU) — have channeled at least $2 million from their treasuries and super PACs to two Wisconsin-based independent expenditure groups.

Obama has raised more money than any politician who ever walked the planet earth:

Washington, May 23 (ANI): President Barack Obama has been found to be the first U.S. politician ever to raise over a billion dollars in the course of his career.

and yet they whine ... and whine...

all I have to say, is now that democracy has failed.. we can finally get back to restoring our "republic"...
 

Latest posts

Top