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The Day George Soros Broke the Bank of England to Make $1.1B (2021)

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Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#141

Post by mikeyouse »

mardifoufs wrote: post #114
jcranmer wrote: post #31

Earlier quoted context omitted.

Well, the answer I was going to give was "he's Jewish^H^H^H^H^H^Han international globalist financier", but that's the same thing really.

There is plenty of hate for the Koch Brothers, and they are Jewish too. It's just fashionable to hate a billionaire who finances "the other side" imo. And it's hard to deny Soros is very politically active with his money, probably more so than your average billionaire, just like the Koch brothers are.

The Koch brothers aren't Jewish... That would have been an awkward meeting when their father went to Hamburg to meet Hitler to build an oil refinery. They don't practice but were loosely affiliated with the Catholic church for a time.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#142

Post by mikeyouse »

IAmEveryone wrote: post #121
shrubble wrote: post #84

"I am there to make money; I cannot and do not look at the social consequences of what I do" - George Soros Someone who explicitly says that as a teenager, he enjoyed his time working for the Nazis while they were looting those targeted, is not going to be shamed over taking $1 billion in a trade. See: https://www.youtube.com/watch?v=SGWizajL7tA compilation of clips from 60 Minutes interviews, etc. (from 3m45s he tal…

Wikipedia: Tivadar [his father] saved not only his immediate family but also many other Hungarian Jews, and Soros later wrote that 1944 had been "the happiest [year] of his life," for it had given him the opportunity to witness his father's heroism.[ Stop lying.

The idea that Soros, who was a 13-year old Hungarian Jew pretending to be christian as to not be murdered by the Nazis, somehow was sympathetic to the nazis is one of the laziest attempts at smearing someone I can remember.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#143

Post by jen20 »

thaumasiotes wrote: post #118
jen20 wrote: post #28

Earlier quoted context omitted.

> He forced mortgage rates, for example, to shoot up to 15%, with crippling monthly payments for a large chunk of the population. While this may be true, it is entirely the fault of the dumb UK mortgage market that does not provide for fixed-rate mortgages for the full term of the loan. In the US, 30 year fixed rates are the norm. In the UK you’re lucky to get 5 years fixed.

> While this may be true, it is entirely the fault of the dumb UK mortgage market that does not provide for fixed-rate mortgages for the full term of the loan. In the US, 30 year fixed rates are the norm. That's not an effect of the market; American 30-year fixed-rate mortgages reflect intense government involvement.

Anyone who thinks the British government is not involved in the UK mortgage market is not paying attention.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#144

Post by mardifoufs »

mikeyouse wrote: post #141
mardifoufs wrote: post #114

Earlier quoted context omitted.

There is plenty of hate for the Koch Brothers, and they are Jewish too. It's just fashionable to hate a billionaire who finances "the other side" imo. And it's hard to deny Soros is very politically active with his money, probably more so than your average billionaire, just like the Koch brothers are.

The Koch brothers aren't Jewish... That would have been an awkward meeting when their father went to Hamburg to meet Hitler to build an oil refinery. They don't practice but were loosely affiliated with the Catholic church for a time.

Oh wow, you are absolutely right. I don't know how I made that mistake, but I think I got confused with Sheldon Andelson as I saw him on the news due to his recent passing (the cheering by some people is probably what made me see some parallels with the George soros obsession).

To be fair, it's hard to keep up with all of America's billionaires!

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#145

Post by admax88qqq »

criddell wrote: post #47
admax88qqq wrote: post #19

If I have to read "massive speculative attack" one more time... Almost every paragraph ends with this, and it takes 5 paragraphs just to start explaining what the attack was and how it worked. This wouldn't pass high school English.

Your high school didn't grade essays based on engagement? /s

lol fair point

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#146

Post by bitshiftfaced »

blibble wrote: post #6

if this hadn't happened then the UK would have joined the euro brexit under the euro would have been all but impossible I wonder if Soros regrets "breaking the bank", especially given he was a huge remain supporter (donating vast amounts to the campaign)

Short sellers don't strike me as the type who regret doing something that made them a billion dollars.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#147

Post by jollybean »

cloutchaser wrote: post #32
sam537 wrote: post #2

It's great to talk in terms of indices and devaluations and of "breaking the bank of England". The lives affected are not even spared an afterthought.

As much as I disagree with Soros on a lot of things, betting on a government being unable to manipulate it's currency forever, and succeeding on that bet is the government's fault, not Soros'.

It's 100% Soros's fault and he probably should have been jailed for it.

A nation was pursuing an economic policy towards harmonising their economy with that of another - a very nuanced process. Like two ships lining up so that one could supply the other.

That it makes an economy possibly more vulnerable to external issues (like a giant wave) is true, but it's a necessary condition that ostensibly has future benefits of economic alignment (i.e. ships being resupplied worth some risk).

Soros is a thief, a pirate, like any other - he came a long and created enormous risk, extracted billions into his fat pocket which would otherwise be in public coffers, and didn't create a dime in value for anyone, it's a zero sum game in which he ran off with riches learning everyone else poorer. It's cockroach capitalism of the worst kind.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#149

Post by shortbig »

mannerheim wrote: post #136
sam537 wrote: post #2

It's great to talk in terms of indices and devaluations and of "breaking the bank of England". The lives affected are not even spared an afterthought.

I've heard the same kind of blame leveled at the characters of the Big Short. But just as they didn't make banks give out bad loans, Soros didn't make the Bank of England put an unsustainable currency peg in place.

No post body was provided.

Re: The Day George Soros Broke the Bank of England to Make $1.1B (2021)

#150

Post by noodles_nomore »

bidirectional wrote: post #127
gregw2 wrote: post #119

Earlier quoted context omitted.

Spreads may have tightened, but payments for order flow suggest to me there's a new flavor of front running involved via HFT and dark pools. But I'm no expert.

How? No offence but it just sounds like conspiratorial nonsense based on some scary sounding terms. Payment for order flow is an example of the incentives of retail traders, retail brokers and HFT market makers aligning. The market makers are able (and obligated) to improve prices because they have paid to receive flow they are almost certain is not toxic. Meanwhile they charge the likes of hedge funds higher prices…

The book Flash Boys deals with this. It's a long time since I read it, but IIRC brokers need to split large orders and route them to different exchanges to get the best price (which is required under 'best-effort execution'). These orders will hit the exchanges at different times giving enough time for HFT to observe them at one exchange and front-run them at the other.
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