NEW YORK – There’s speculation that George Soros placed heavy bets against the U.S. causing the market crash.
Rumors are swirling that George Soros, 80, reportedly made a bet of almost $1billion at odds of 100/1 last month that the U.S. would lose its AAA credit rating.
It appears that Soros, famously known as ‘the man who broke the Bank of England’, may now have decided to try to break the U.S. stock market.
Questions are being asked of whether Soros had inside information before placing the $850million bet in the futures market.
There have been persistent rumors for the last two decades that Soros has manipulated currencies to increase his staggering wealth.
He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.
Soros stands to earn a 100,000 per cent return on their money, with the expectation that interest rates will be going up after the downgrade.
He stands to make a profit of $100 billion on the downgrade.
Sources close to people who know Soros say he plans to donate at least $1 billion of it to the re-election campaign of Barack Obama. And $1 billion will be spent on attempting to buy Fox News. And if he can’t buy Fox News, he intends to spend $5 billion pursuing legal actions against Fox News.
There are also rumors that Soros may buy a few of the United States (by bailing them out). Soros has his eyes on Rhode Island first, then Illinois and he hopes he can buy the State of California (which already has bids from the Chinese) by the end of the year.
Soros is also looking at buying… Great Britain.
At 80, he still dreams big.