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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (28538)	5/10/2010 12:47:58 PM
From: Real Man	1 Recommendation Read Replies (1) \| Respond to of 71475

Here, here... The true story. The one you posted was a fake to avoid public anger. Yes, he may have lost in Russia, as it was one of the Asian crisis fallout victims, something George may not have foreseen. The Russian market very quickly regained strength after the crisis, so he probably made it all back. time.com "Sensing that their prey had been cornered by their own venality, the wolves began to circle in early 1997. The amoral pursuit of profit was about to punish the sins of cronyism and corruption. Drawing from multibillion-dollar war chests, hedge- fund operators such as George Soros and Julian Robertson intensified their attack on the baht. One way the speculators bet against the currency was by entering into contracts with dealers who would give dollars in return for an agreement to repay a specific amount of bahts some months in the future. If the baht rose in value, the seller of the contract made money; but if it fell, the buyer profited because he could repay the contract with cheaper bahts. Demand for such contracts started to drive up interest rates, and the Bank of Thailand began issuing many of these so-called forward contracts itself."