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  1. #1
    Atomic Punk bklynboy68's Avatar
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    Default George Soros Sees Crisis in Global Markets That Echoes 2008

    Collapsing currencies is what he does best.


    Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.

    China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in Colombo. A return to positive interest rates is a challenge for the developing world, he said, adding that the current environment has similarities to 2008.

    Global currency, stock and commodity markets are under fire in the first week of the new year, with a sinking yuan adding to concern about the strength of China’s economy as it shifts away from investment and manufacturing toward consumption and services. Almost $2.5 trillion was wiped from the value of global equities this year through Wednesday, and losses deepened in Asia on Thursday as a plunge in Chinese equities halted trade for the rest of the day.

    “China has a major adjustment problem,” Soros said. “I would say it amounts to a crisis. When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008.”

    Soros has warned of a 2008-like catastrophe before. On a panel in Washington in September 2011, he said the Greece-born European debt crunch was “more serious than the crisis of 2008.”


    Soros, whose hedge-fund firm gained about 20 percent a year on average from 1969 to 2011, has a net worth of about $27.3 billion, according to the Bloomberg Billionaires Index. He began his career in New York City in the 1950s and gained a reputation for his investing prowess in 1992 by netting $1 billion with a bet that the U.K. would be forced to devalue the pound.

    Measures of volatility are surging this year. The Chicago Board Options Exchange Volatility Index, known as the fear gauge or the VIX, is up 13 percent. The Nikkei Stock Average Volatility Index, which measures the cost of protection on Japanese shares, has climbed 43 percent in 2016 and a Merrill Lynch index of anticipated price swings in Treasury bonds rose 5.7 percent.


    China’s Communist Party has pledged to increase the yuan’s convertibility by 2020 and to gradually dismantle capital controls. Weakness in the world’s second-largest economy remains even after the People’s Bank of China has cut interest rates to record lows and authorities pumped hundreds of billions of dollars into the economy. Data this week reinforced a sluggish manufacturing sector.







    http://www.bloomberg.com/news/articl...rge-soros-says
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  2. #2
    Sinner's Swing! evhintexas's Avatar
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    No matter the outcome
    Piss on George Soros--he and his organizations are a big cause of a vast majority of issues in this country
    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."

    “A patriot must always be ready to defend his country against his government.”

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  4. #3
    Sinner's Swing! Jesus H Christ's Avatar
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    Quote Originally Posted by evhintexas View Post
    No matter the outcome
    Piss on George Soros
    Abso-fucking-lutely.

    Soros is an evil human being.
    "The less I needed, the better I felt." ~ Charles Bukowski.

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  6. #4
    Atomic Punk edwardv's Avatar
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    12.12.17 @ 08:17 AM
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    Soros has his finger on the short button....let me know when he starts turning his dollar assets into gold and silver then I'll take notice.
    Last edited by edwardv; 01.08.16 at 05:33 AM.
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  7. #5
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by edwardv View Post
    Soros has his finger on the short button....let me know when he starts turning his dollar assets into gold and silver then I'll take notice.
    He has been buying a shit ton of gold already.
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  8. #6
    Atomic Punk edwardv's Avatar
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    Quote Originally Posted by bklynboy68 View Post
    He has been buying a shit ton of gold already.
    Google says Soros is worth 23 billion. I would expect him to own some precious metals but no one knows what per cent of his worth? I'd say and I'm not an expert when all these billionaires and billion dollar corporations get over 50% of their assets in gold or silver its game on and there goes the dollar. I hope it never happens.
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  9. #7
    Sinner's Swing! Jesus H Christ's Avatar
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    There are just so many things to dislike about Soros...But the biggest in my mind is he was a collaborator during World War 2. I don't quite understand how this man is any different than the Germans who went on trial after the war...The entire country was held accountable for being accomplices, but many didn't directly participate in the Holocaust. George Soros DIRECTLY participated in the mass murder of his own people through his father and himself being cowards. I'll never understand how he has been allowed to walk this earth freely all these years. FUCK HIM.
    "The less I needed, the better I felt." ~ Charles Bukowski.

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  11. #8
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    George Schwartz is a sociopath. His "someone else would have done it" reason for no remorse for stealing Jewish property and sending other Jews to death to save his own skin is a little hard to comprehend.
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  13. #9
    Gird your loins Daisy Hill's Avatar
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    Bank of Scotland seems less confident than you would hope

    Sell everything ahead of stock market crash, say RBS economists
    The Guardian

    Investors face a “cataclysmic year” where stock markets could fall by up to 20% and oil could slump to $16 a barrel, economists at the Royal Bank of Scotland have warned.

    In a note to its clients the bank said: “Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small.” It said the current situation was reminiscent of 2008, when the collapse of the Lehman Brothers investment bank led to the global financial crisis. This time China could be the crisis point.


    Stock markets have already come under severe pressure in 2016, with the FTSE 100 down more than 5% in its worst start since 2000. In the US, the Dow Jones industrial average has made its poorest ever start to a year.


    Oil prices have also fallen sharply on fears of lower demand and a supply glut, especially with Iran due to start exporting once more when sanctions are lifted. Tensions between Iran and Saudia Arabia make it less likely that Opec can agree to cut production to halt the slide in prices. Brent crude is down another 1% at $31.18, its lowest level since April 2004.

    Investors have been spooked by fears of a severe slowdown in the Chinese economy and a fall in the value of the yuan, not helped by a crash in the country’s stock market despite attempts by the country’s authorities to curtail selling.

    Andrew Roberts, RBS’s credit chief, said: “China has set off a major correction and it is going to snowball. Equities and credit have become very dangerous, and we have hardly even begun to retrace the ‘Goldilocks love-in’ of the last two years.”

    Markets have been supported for some time by low interest rates, central bank stimulus measures from central banks including quantitative easing, and hopes of economic recovery. But with the Federal Reserve raising rates and the Bank of England expected to follow suit, that prop is being removed.

    Roberts said European and US markets could fall by 10% to 20%, with the FTSE 100 particularly at risk due to the predominance of commodity companies in the UK index. “London is vulnerable to a negative shock. All these people who are long [buyers of] oil and mining companies thinking that the dividends are safe are going to discover that they’re not at all safe.

    “We suspect 2016 will be characterised by more focus on how the exiting occurs of positions in the three main asset classes that benefitted from quantitative easing: 1) emerging markets, 2) credit, 3) equities ... Risks are high.”

    RBS is not the only negative voice at the moment. Analysts at JP Morgan have advised clients to sell stocks on any bounce.

    Morgan Stanley has said oil could fall to $20 a barrel, while Standard Chartered has predicted an even bigger slide, to as low as $10. Standard said: “Given that no fundamental relationship is currently driving the oil market towards any equilibrium, prices are being moved almost entirely by financial flows caused by fluctuations in other asset prices, including the US dollar and equity markets.

    “We think prices could fall as low as $10 a barrel before most of the money managers in the market conceded that matters had gone too far.”

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    For Doom & Gloom, Michael Synder is my go to guy:

    http://theeconomiccollapseblog.com/michael-snyder

    ~~8 U.S.C. § 1182(f)~~

  15. #11
    Atomic Punk Dave's Dreidel's Avatar
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    Everyone thinks everything is crashing.

    Get ready to start buying.

    I have become cynical in my old age, I think the sky is falling stuff is largely a perpetrated folly to get the non-institutional buyers to sell their assets. It's a built in buy low sell high strategy by large asset holders.
    Taylor Swift is nice to look at. Adele can sing.

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  16. #12
    Baluchitherium Ted Van Halen's Avatar
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    Default George Soros Sees Crisis in Global Markets That Echoes 2008

    My buddy says "when everybody else is greedy, get scared. When everybody is else scared, get greedy."
    -TVH-


    If there must be trouble, let it be in my day, that my child may have peace. -Thomas Paine


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    Any man who thinks he can be happy and prosperous by letting the Government take care of him better take a closer look at the American Indian. - Henry Ford

 

 

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