Soros hardly "broke the bank of England". That was done effectively by the politicians and economists who run the UK.
The pound was in the monetary "snake" and was not allowed to fall out of the snake. Yet, its perceived value was going down and down and down. The British government had to get the pound out of the snake so it could fall to its real value. All Soros did was to bet that this would happen. As he said afterwards, 'it was pretty obvious they would have to do this'. His bet paid off and he made $1 billion. A couple of years later, I noticed that he lost $2 billion in another bet, but that is the life of the speculator. You fall into the trap that many do and which prevents any profound examination of a problem. You find a scapegoat and blame him (or a bunch of them and call them "predators"). That stops any further thinking about the problem. Obama does this a lot. Harry -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Christoph Reuss Sent: Monday, May 17, 2010 7:23 AM To: [email protected] Subject: Re: [Futurework] FW: The European Union's Dangerous Game Ed Weick wrote: > It would be great to be able to blame the kinds of crisis that is now > hitting the Eurozone on single individuals. All you would then have > to do is yank George Soros out of his private jet or penthouse and put > him in solitary confinement under heavy guard. The crisis would then > be over and the world could begin to mend. Let's try that for a year (not Soros alone, of course) and see what happens. Do you think the stock casino is populated by gods ("the invisible hand") or by individuals who do the gambling in order to gain billions? > Unfortunately its not like that. George Soros may be a little more to > blame than the rest of us, but not much. We are all to blame. Like > the Greeks, we expect an awful lot of our governments. Being run by > politicians who want to get re-elected, governments tend to give us > what we expect. And of course there are things they've committed to > do, on our behalf they say, like fight in Afghanistan. > To do all of the things we want them to do or they can pretend we want > them to do governments must either tax us heavily or borrow heavily. > Since taxing us heavily is enormously unpopular their only option is > to borrow heavily, so that is what they do. So let's not blame George > Soros. Let's blame ourselves and stop expecting governments to do everything for us. What does currency SPECULATION trading have to do with lending credits that were requested by governments?? It is this speculation that steals billions without providing any benefit for the countries, even if they're borrowing. When Soros "broke the bank of England", he wasn't lending -- he was speculating with a certain goal: rip-off. And as far as lending is concerned: Who forces those billionaires to reap such high interest rates, anyway? Aren't they rich enough already, and don't they claim to be philanthropists? Then why not charge much lower interest rates, or even renounce on interest at all? When you blame "the masses", do you really believe they would vote FOR high interest rates (in borrowing) and FOR billionaires' speculation gambling, if given a vote? If you ask me, "the masses" would vote for the opposite. But they don't get a chance to vote on that. Still, you blame them. > P.S.: One factor contributing to rising government costs is aging > populations. As we age we stop working and need more care. Another lame excuse to blame "the masses" and defend the Predators. Guess what, people have paid for their pension funds all their life (at least in Europe) -- the problems began when Predators began to speculate/gamble with pension funds, ripping them off by billions! Chris ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SpamWall: Mail to this addy is deleted unread unless it contains the keyword "igve". _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
