Eurozone To Fail? George Soros Bets €100m AGAINST Deutsche Bank
by Phil T. Looker, 27 June, 2016
George Soros, the man lifted himself from ordinarily rich speculator to rank alongsode the Rothschilds and Buffets of global finance, the people who can affect the destinies of large nations by trashing the Thair economy with a massive specul ation against their cirrency, the Bhat, in the 1990s and who later "broke the Bank of England" took a short position of 0.51 per cent in Deutsche Bank shares on Friday - the day after the people of Britain backed Brexit. (what is short selling?)
It has been known for over a year that the failure of the European single currency and the insolvency of Europe's weaker economies that has cause has left German and French banks dangerously exposed to 'Club Mediterranean' debt. That in itself is a major problem for Germany, but the burden imposed on fedral and state budgets by mass immigration has left the German government little room to manoeuvre. With the number of alarm bells and flashing lights increasing every day to show that Angela Merkel's economy is struggling desperately and though the decision taken by Britain's voters to quit the failing EU has not helped, Germany's problems are much deeper than a short term consequence of Brexit. Soros Fund Management said immediately after the Brexit result its short position was now 0.46 per cent - suggesting it had begun to take profits from the trade.
However since the momentous decision, shares at Deutsche have dramatically slumped.
At one point, shares were down by more than 13 per cent compared with Friday's high point.
Banks across Europe have been left battered by Britain's decision to turn its back on Brussels in a historic referendum on June 23, but Deutsche Bank is especially troubled. The bank, which is undergoing a deep restructuring, has been hamstrung by the fallout from the financial crisis, posting a record loss of €6.8billion in 2015. Around a year ago, John Cryan took over as the bank's new CEO, with a clear mandate to slah jobs and costs.
Since then the bank's share price has dropped by nearly 60 per cent, making it one of the lowest-valued international banks.
The latest hit on Deutsche Bank's financial credibility comes after Soros, who made $1bn by famously positioning himself against sterling 22 years ago, said a British exodus from the bloc would make the eventual dissolution of the EU "practically irreversible". Soros, 85, said that Brexit was the final nail in the coffin for the EU.
George Soros made around £690m after his infamous bet that sterling was overvalued against the Deutsche Mark, which forced former Prime Minister John Major to pull the pound out of the European Exchange Rate Mechanism (ERM). Short selling is a type of transaction that involves making forward contracts to sell shares, commodities, derivatives or currency that you don't have, at a certain price on a fixed date. The short seller is betting they can buy whatever is needed to fulfill the contract at a lower price than the agreed sale. One of the negative aspects of computerised trading is that it enables speculators to manipulate markets.
Germany’s Deutsche Bank In Crisis - World Socialist Website
Because I'm sure the people who supported the case for REMAIN in the Brexit vote will try to dismiss the above and anything that shows the LEAVE people were right and Britain is better off outside the expansionist, neo - colonial European Union as extreme right propaganda, I bring you (embedded below) a post from World Socialist Web Site which bears out everything I said. It even confirms what I have always asserted about the European Project and Globalism being a scheme hatchede by the elite to enslave poorer people all over the globe.MORE on BREXIT
Threat Of Major Scandal Prompted Early Election Move – UKIP
Leaders of the (UKIP) have made astonishing claim that Prime Minister Teresa May’s calling an early General Election was done to pre-empt a series of by-elections that could be called following alleged electoral fraud. Accusing the Conservative government of “putting party before country”, UKIP appeared to suggest the scandal and ensuing disqualification of MPs could rob the government of its slender majority.
With a referendum in Italy, ostensibly on constitutional reforms but perceived as a referendum on the leadership of the ruling elite, looming in November and the anti - globalisation, pro sovereignty Five Star Party growing in popularity all the time. Should the constitutional changes be voted down, and the against campaign is showing a comfortable lead in opinion polls at the moment, it will put a Quitaly in-out referendum, similar to the so called Brexit vote that kick off the process of Britain leaving the European Union, at the top of the agenda. 'It has got OUT OF CONTROL' Boris issues damning indictment of 'gigantic' EU project
Adolf Hitler, His Part In Our Downfall
FREE E-BOOK FOR .pdf & Kindle dowload
A thirty five thousand word book on the authoroitarian, undemocratic, bureaucratic dictatorship that is the European Union. Following the outburst of left wing hate politics following Boris Johnson's reminder that the EU has its roots in Hitler's Naziism, which as any intelligent person is aware is both true and very well documented. My blog colleagues and I decided to assemble this collection of our articles (with some long extracts quoted from public domain and creative commons sources) to help people misled by the REMAIN campaign into thinking the arguments are solely economic.