As reported earlier on The Blaze, George Soros, the 81-year-old Hungarian billionaire, is suspected of having profited from the United States’ recent credit downgrading. According to ETF Daily News:
“Someone dropped a bomb on the bond market Thursday – a $1 billion Armageddon trade betting the United States will lose its AAA credit rating. In one moment, an invisible trader placed a single trade that moved the most liquid debt market in the world. The massive trade wasn’t placed in bonds themselves; it was placed in the futures market. The trade was for block trades of 5,370 10-year Treasury futures executed at 124-03 and 3,100 Treasury bond futures executed at 125-01.”
The rumor is that Soros bought 5,370 of these ten year Treasury futures and is thought to have also purchased 3,100 Treasury bond futures. The news site examiner.com draws its own conclusions:
“Of course, this mystery bet could have been made by any Hedge Fund that followed Soro’s course of action, and went private on their own. However, very few people have the inside contacts with the Treasury Department and Obama administration that Soros does, and the historical evidence does point strongly to this bet being one that he has done in the past.”
By “past” they are of course referring to Soros’ most infamous moment.
16 September, 1992 was “Black Wednesday”: the day the British Conservative government was forced to withdraw the pound from the European Exchange Rate Mechanism (ERM). They had no choice; they were unable to keep sterling above its agreed lower limit. However, despite this economic setback, George Soros still managed to walk away $1 billion richer.
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