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22 March 2013

Soros and the Bank of England Revisited

George Soros is much maligned for "breaking the Bank of England". But most ignore the more important fact, that he forced the UK to exit the European Exchange Rate Mechanism and keep the British Pound, rather than adopting the Euro. The UK has enjoyed relative prosperity since then. It was the artificial manipulation by the Bank of England to conform to the EERM that gave Soros the opportunity to short the Pound in the first place.
The same thing has been happening in recent months with the Japanese Yen, allowing Soros to walk away with another 1 billion dollars.
Soros has been a voice in the wilderness attempting to point out the Central Banks misdeeds that decimate the middle classes, but he has been successfully vilified by right-wing pundits and politicians whose main interest is protecting the Central Banks and their Corporate accomplices.
However you feel or have been taught about the man, it would be wise to listen to his financial advise. He has been right in a big way, time after time after time.