George Soros, the billionaire who 'broke' the Bank of England, wins big from Brexit
Source: Independent
Although the exact amount Mr Soros has gained after Brexit is not known, public filings show he doubled his bets earlier this year that stocks would fall.
Mr Soros had also invested heavily in gold, which has soared in value following the Brexit vote to its highest level since March 2014, as investors sought safe assets.
Prior to the vote, the 85 year-old purchased $264m (£193m) of the worlds largest gold miner, Barrick Gold, and acqured options to buy the GLD exchange-traded fund, which tracks how much gold is worth.
Four days before the result of the referendum, Mr Soros wrote in The Guardian: A vote for Brexit would make some people very rich but most voters considerably poorer.
Read more: http://www.independent.co.uk/news/uk/home-news/brexit-latest-george-soros-wins-big-prediction-black-friday-a7102481.html
We are witnessing calamatous failures of democracy. Fear TRUMPS all, facts and common sense are cast aside as you would useless garbage.
Chevy
(1,063 posts)DemMomma4Sanders
(274 posts)Parties and drinks all around the Kremlin.
Meanwhile China prefered a United E.U.
Response to DemMomma4Sanders (Reply #2)
Chevy This message was self-deleted by its author.
craigmatic
(4,510 posts)lakercub
(659 posts)By giving the warning that many will get poorer as a result, he appears to be telling people this is bad. So he has a financial stake in things going bad, but he warns people that things are going to go bad all the same. If xenophobes and people dumb enough to fall for the lies of obviously lying right-wingers are dumb enough to shoot themselves in the foot, why not profit from it?
As long as it's not a disaster capitalism situation where he tries to move things along in a direction that benefits him at great cost to the rest of civilization then I have no problem with him making money on this. He bet on stupidity, always a safer bet than it should be.
Lucky Luciano
(11,267 posts)He was generally bearish...but certainly the probability of Brexit was high enough to play a role in his bet.
TexasBushwhacker
(20,233 posts)to a hit top their retirement savings.
MisterP
(23,730 posts)840high
(17,196 posts)be in my good book. Can't stand him.
7962
(11,841 posts)Soros is and has been a bad guy from his teens forward. I dont give a shit HOW much he donates to liberal causes.
840high
(17,196 posts)of his past history. Thank you.
7962
(11,841 posts)Now if you're aware of other things, I'd like to know that as well.
LiberalLovinLug
(14,178 posts)If he is on your side and donates to liberal causes, what do you have against him?
Because he's rich? We can't make this a war between rich and poor, it has to more be a war against inequality, corruption, and institutionalized racism and sexism that is ingrained into the system.
7962
(11,841 posts)Although some of his tactics to BECOMING rich are on my bad side. he's just like MArtin Shkreli in that respect. You know Bernie Sanders returned Shkreli's donations, right?
His excuses for his actions in WW2 are weak at best, and the fact that he doesnt feel any remorse after the fact is even worse.
No, I dont care that someone I find reprehensible donates money to causes I also support. WOuld you want your candidate for Congress to take money from a pedophile? convicted wife beater? Klansman?
JI7
(89,283 posts)romanic
(2,841 posts)Soros just strikes me as someone who throws money in the air to distract the masses from his misdeeds. I don't trust that man no matter how liberal he may be.
840high
(17,196 posts)George II
(67,782 posts)....all the more to give to progressive causes and charities.
Recursion
(56,582 posts)Not surprising Soros called that right, either.
alcibiades_mystery
(36,437 posts)is not particularly surprising.
We do what we can, but the smart money's always on stupidity.
leveymg
(36,418 posts)When he starts shorting US securities and debt, watch out.
ReRe
(10,597 posts)... of Donald Trump over here. The baser instinct of bigotry is white hot over here and he bet on the public in UK to go for "Leave". So, the fear of "unlike persons" in their midst in the UK was more powerful than their own self welfare.
This is the kind of entertainment George likes. Why go to the horse races when you can bet from the comfort of you home, on the fate of people's lives instead of the positive or negative odds of horses or greyhounds or dog fights.
He is a disgusting, vile, evil, old, filthy rich man.
7962
(11,841 posts)Sunlei
(22,651 posts)to late to invest in real estate unless there's a new mortgage bubble being built somewhere like Israel?
How about all the little people who need a bank savings account that pays 2 or 3%?
Cryptoad
(8,254 posts)ForgoTheConsequence
(4,869 posts)Won't somebody please think of the filthy rich?
Keep defending this kind of bullshit and someday it will trickle down to you kiddo!