Is Soros Engineering Another Black Wednesday?

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September 16th 1992 became known as Black Wednesday after George Soros, the Hungarian born banker, short sold sterling, which forced the UK government to withdraw the pound from the European Exchange Rate Mechanism. He became known as ‘the man who broke the bank of England’. It is said he made more than a billion dollars overnight. You can read more about that here.

Soros is not beyond positioning himself where he will profit by stock market crashes. A short time ago he was in the news because he made a billion dollar bet against the S&P 500, a move that some claimed signalled trouble ahead for the stock markets. This week his name is once again being bandied about in financial circles.

Tom Bernis of Market Watch reports:

George Soros dumped his stakes in banks and went for tech and gold miners in the first quarter, according to a filing with the Securities and Exchange CommissionThursday. Soros sold his holdings in Citigroup, J.P. Morgan and Bank of America. He took new stakes in RF Micro Devices, Nuance Communications, Marvel Technology Group, Nokia Corp, and Cypress Semiconductor. Soros also boosted his stake in Herbalifeand took a new position in Yamana Gold, AuRico Gold, and New Gold Inc. Cda.

When Soros dumps bank stock and invests in other areas he is sending a message that there is no money to be made, that the system is shot.

He said in 2009:

“We witnessed the collapse of the financial system … It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”

Could this signal that he now feels we have reached the bottom and the system is about to implode? Soros is not the only billionaire who is dumping stock. Warren Buffet and John Paulson are also quietly changing their positions as Newsmax reports:

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

Buffett’s holding company, Berkshire Hathaway, has been drastically reducing its exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately, Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase according to a recent filing. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros has sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

We all know that the financial system is a train wreck and that ultimately there will be another financial crash, one that will make 2008 seem like a minor hiccough. The question has to be then, if all those ‘in the know’ are dumping stock, is it a good deal closer than we think?

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Contributed by Chris Carrington of The Daily Sheeple.

Chris Carrington is a writer, researcher and lecturer with a background in science, technology and environmental studies. Chris is an editor for The Daily Sheeple. Wake the flock up!

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  • Hammerun

    Maybe Soros dumped the stock because it was dead money. Realizing he didn’t have half the financial horsepower he thought he had. Kicking over some smaller economy is far and away from the US.
    Maybe his plans aren’t working out to his benefit. Maybe there’s not enough big players involved. Guys like him are into quick down and dirty profet. He’s big but, there’s other guys out there that could easily buy him with a check. He’s like that 5′ kid in 4th grade that uses his size to push others around but, he’s has got to keep an eye out for that little 4’shit that has a big stick. My guess that Buffet, Gates and Carlos Slim could efferotlessly crush Soros like a bug!

  • Ed Troyer

    His real name is Schwartz. Soros sounds less ‘Chosen’ I suppose. The “protocols’ and ‘The International Jew’ are truly prophetic.

    • Thomas Parker

      Nazis! I hate those guys!

      • Mark

        In these days when facts are easily checked, the tribe’s ritual name-calling has lost its magic. “Nazi,” “anti-Semite,” and “forgery” are no longer able to conceal the truth about Jewish beliefs and behavior.

        • watchmanonthetower

          Thomas was just channeling a dollop of Indiana Jones in a clever bit random referencing.

          Free speech in action.


          • Thomas Parker

            I was wondering if anyone would get that. I’ve probably used that line thirty times-no response.

          • watchmanonthetower

            Indy is the source of many a great relevant line.

            Spent decades working in Hollywood as a post-production specialist; audio, SFX, Editorial, CGI, Restoration and DVD & BluRay. Probably worked every title in Colombia’s library; Disney, WB and Paramount, too.
            It’s no fun to watch movies with me; I know most every dialog line, goof, editing mistake, continuity error and film processing flaw.
            Distant history now, tho.


        • Thomas Parker

          Mark, you really are an anti-Semitic aren’t you? Wow.

          Blow me you motherfucking dog clit-licker.

          • Ed Troyer

            Pretty clear what you’re about. Probably have Fraudfront (stormfront) moderation privileges.

        • sallyho3000 .

          You know, it is interesting that Talmudic Judaism, the most extreme anti-mankind element of Judaism is mainstream Judaism…
          Extremism in other religion is inevitably relegated to the fringes.

          While we’re at it… has anyone else noticed that 200 years ago, people didn’t use the word human…?
          “Hu-” is an interesting root, meaning sub, or less than; how did we all get tricked into this.
          One guy told me, it doesn’t matter, a rose by any other name… BUT, language is the outline of reality in mankind’s world. Why have we been trained to call ourselves by the Latin equiv. of ‘Goyim?’
          Am I really the only one thinking about this…? It is only one example.

          • sallyho3000 .

            …and FYI Ziotrolls, I happen to think that the NON-Talmudic Jews are OK, as they are not out to dominate and enslave the rest of Humanity. the ones in Ethiopia are especially interesting, and they REALLY don’t appreciate being associated with Talmudic Judaism/Israel.

          • Thomas Parker

            sallytheho: You’ve really thought this out haven’t you? Why spend so much mental energy on trying to scientifically substantiate your bigotry? No bigots care. I certainly don’t care to read your attempts at logic. Yes, you are the only one thinking about this.

      • Mark

        “Chosen People” (Gavril Princeps and his co-assassins) started World War ONE—25 million died.

        “Chosen People” (the 1933 Declaration of War of World Jewry against Germany) started World War TWO—60 to 80 million died.

        “Chosen People” created (Rabbi Moses Hess and his disciple Marx), financed (Rosenwald, Kuhn, Loeb, Schiff, etc.), propagandized (Ehrenburg, Mikhoels, Khaldei, etc.) exported (Kun, Eisner, Zimanas, Rozanski, Pijade,
        Rakosi, Olszewsi, etc.), and mostly ran (Lenin, Trotsky, Zinoviev, Sverdlov, Litvinov, Andropov, etc.) Communism, their secret police (Beria, Yagoda, Bronstein, Yurovsky, Pauker, Slutsky, Gay, Speigelglas, Babel, etc.), and gulags (the Kaganovich family, Berman, Frenkel, Firin, Rappoport, Kogan, Zhuk, etc.)—60 million died in the USSR; if you blame Hess and Marx for Mao, add another 75 million dead.

        The synagogue of Satan is responsible, directly and indirectly, for the murder of nearly a QUARTER BILLION PEOPLE in the 20th century.

        How many will you let them kill in the 21st century?

    • sallyho3000 .

      Schwartz Gyorky.

      Black George… Greorge the Black?…

  • Thomas Parker

    Completely untrue.

    • sallyho3000 .

      Seriously, though… it WAS his first job…

  • watchmanonthetower

    The photo with this article makes us wonder whether ol’ George recently got his eyes tattooed (seems to be all the rage with the satanist crowd nowadays anyway) or perhaps that really -is- sick and slimy darkness emanating out of his eyes from some unfathomable depth where his soul resides.

    [oh, wait; my Melodrama App is open; sorry.)

  • watchmanonthetower

    Let’s hope he doesn’t have acid for blood. Didn’t turn out well for the crew of the USM Auriga.


    • sallyho3000 .

      LOL. Nice.

  • Thomas Parker

    Soros was born in 1930, which would have made him 14 when the Nazis moved into Hungary in 1944. How much treachery can a 14-year old do? Soros is a great man who has battled authoritarianism his whole life. Because his conscience dictates his actions, the rightwing-nuts have fabricated lies to discredit him. I doubt he is even aware of their existence, much as I’m unaware of bacteria in my shit.

    • Thomas Parker

      Rat!? Fuck you, asshole

  • If you think George Soros made that happen instead of guessing the timing when it did happen, you are not only bad at arithmetic, you are insane.

  • I’ll second that. Fuck you.

  • Ed Troyer

    LOL!!!! How true.