Man who broke the Bank of England, George Soros, ‘at centre of hedge funds plot to cash in on fall of the euro’

Karl West
Daily Mail [UK]
27 Feb 2010

A secretive group of Wall Street hedge fund bosses are said to be behind a plot to cash in on the decline of the euro.

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Representatives of George Soros’s investment business were among an all-star line up of Wall Street investors at an ‘ideas dinner’ at a private townhouse in Manhattan, according to reports.

A spokesman for Soros Fund Management said the legendary investor did not attend the dinner on February 8, but did not deny that his firm was represented.

At the dinner, the speculators are said to have argued that the euro is likely to plunge in value to parity with the dollar.

The single currency has been under enormous pressure because of Greece’s debt crisis, plus financial worries in Portugal, Italy, Spain and Ireland.

But, it has also struggled because hedge funds have been placing huge bets on the currency’s decline, which could make the speculators hundreds of millions of pounds…

…He believes that unless the European Commission is given sweeping powers over taxation and spending, the single currency will always be vulnerable to financial turbulence in individual states…

Read the entire article at the Daily Mail.

Read also, “George Soros Buys Citigroup Inc., Select Sector SPDRfinancial, Kinross Gold Corp., Sells Jetblue Airways Corp., MSC Industrial Direct Co. Inc., Navistar International Corp.

And George Soros doubles gold investment

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