Soros

The two most important charts in the world right now

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Spanish Government 10 yr. Bond   Italian Government 10 yr. Bond Watch these two yields on Bloomberg. If they blow out, you can expect stocks to come down, the dollar to rise, oil goes down, and financial contagion spreads.  It’s as simple as that.  Why Spain and Italy matter so much to the world is just another example of how global financial systems are too complexly intertwined Soros and Buffet are both right; credit default swaps should be banned.  That would be one easy step for governments to do to begin to surgically repair the circulation back to the banking … Read more

Soros says Europe has three months to avoid catastrophe

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I don’t pretend to know what’s going to happen but I’ve said many times, the world would be much better off without the euro.  For reasons beyond my comprehension, the Europeans seem hell bent on keeping it.  Perhaps this speech from George Soros will make it clearer to you. Remarks at the Festival of Economics, Trento Italy June 2nd  

”s Gain – WSJ.com

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Investor George Soros’s family fund bought about $2 billion of European bonds formerly owned by MF Global Holdings Ltd., the very debt that helped force the securities firm to file for bankruptcy protection Oct. 31, according to people close to the matter. Under the direction of MF Global’s former chief executive, Jon S. Corzine, the firm accumulated $6.3 billion of short-term debt issued by various European nations, mostly from Italy, in a bid to boost trading profits. Over the summer, this debt led to nervousness by investors, regulators and ratings companies, resulting in the firm’s collapse just over a month … Read more

Soros Says “We are on the verge of an economic collapse…

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Soros Says a Euro Exit Mechanism Is ‘Probably Inevitable’ Amid Debt Crisis By Zoe Schneeweiss June 27 (Bloomberg) — Billionaire investor George Soros said it’s “probably inevitable” that a mechanism will be put in place to allow weaker economies to exit the euro.     There’s no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable,”Soros, 80, said at a panel discussion in Vienna yesterday on whether liberal democracy is at risk in Europe. “We are on the verge of an economic collapse which starts, let’s say, in Greece, but it could easily spread. The financial system … Read more