by Phil T. Looker, 27 June, 2016
George Soros, the man lifted himself from ordinarily rich speculator to rank alongside the Rothschilds and Buffets of global finance, the people who can affect the destinies of large nations by trashing the Thai economy with a massive speculation against their currency, the Bhat, in the 1990s and who later "broke the Bank of England" took a short position of 0.51 per cent in Deutsche Bank shares on Friday - the day after the people of Britain backed Brexit. (what is short selling?)
It has been known for over a year that the failure of the European single currency and the insolvency of Europe's weaker economies that has cause has left German and French banks dangerously exposed to 'Club Mediterranean' debt. That in itself is a major problem for Germany, but the burden imposed on fedral and state budgets by mass immigration has left the German government little room to manoeuvre. With the number of alarm bells and flashing lights increasing every day to show that Angela Merkel's economy is struggling desperately and though the decision taken by Britain's voters to quit the failing EU has not helped, Germany's problems are much deeper than a short term consequence of Brexit. Soros Fund Management said immediately after the Brexit result its short position was now 0.46 per cent - suggesting it had begun to take profits from the trade.
However since the momentous decision, shares at Deutsche have dramatically slumped.
At one point, shares were down by more than 13 per cent compared with Friday's high point.
Banks across Europe have been left battered by Britain's decision to turn its back on Brussels in a historic referendum on June 23, but Deutsche Bank is especially troubled. The bank, which is undergoing a deep restructuring, has been hamstrung by the fallout from the financial crisis, posting a record loss of €6.8billion in 2015. Around a year ago, John Cryan took over as the bank's new CEO, with a clear mandate to slash jobs and costs.
Since then the bank's share price has dropped by nearly 60 per cent, making it one of the lowest-valued international banks.
The latest hit on Deutsche Bank's financial credibility comes after Soros, who made $1bn by famously positioning himself against sterling 22 years ago, said a British exodus from the bloc would make the eventual dissolution of the EU "practically irreversible". Soros, 85, said that Brexit was the final nail in the coffin for the EU.
George Soros made around £690m after his infamous bet that sterling was overvalued against the Deutsche Mark, which forced former Prime Minister John Major to pull the pound out of the European Exchange Rate Mechanism (ERM). Short selling is a type of transaction that involves making forward contracts to sell shares, commodities, derivatives or currency that you don't have, at a certain price on a fixed date. The short seller is betting they can buy whatever is needed to fulfill the contract at a lower price than the agreed sale. One of the negative aspects of computerised trading is that it enables speculators to manipulate markets.
Quitaly? Will Italy follow Britain out of the EU?
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DC Leaks is a new kid on the block in the whistleblowing business but they are very successfully going after billionaire investor and puppet master. Having already exposed Soros' sponsorship of US terror group Black Lives Matter, and his links with the corrupt and careless Hillary Clinton, they have now reveald how Soros manipulates the media.
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Brussels went too far, they crossed the line in moving from an economic union to a political pan - European political empire. In the end it was a race as to which member state would quit first, Britain, Natherlands, Denmark or Italy. In the event it is Britain.
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The Brexit vote, the decision by a democratic majority in Britain to leave the European Union has sent shockwaves around the world. Not only does the EU now face a tsunami of departures, the usurpation of democracy by 'experts' ( technocrats ) has been challenged and exposed as a sham.
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Dutch Referendum This Week Shows why We Should Leave The EU.
Few of you were aware probably that there is an EU referendum vote in The Netherlands this week. As usual with anything negative about the EU barely a word has been printed in the topic in mainstream media and the silence from our notionally unbiased national broadcaster The Bolshevik Broadcasting Corporation (BBC) has been deafening.
French, Belgians, Dutch, Italians Follow Britain in Euroskepticism
Europeans want us British to lead them out of Europe. Don't be fooled by project fear, the European Union (aka the Euronazi Federal Superstate) is falling apart. There will not be chaos if we leave, there will be chaos if we stay.
Head Of European Institute: Brexit â€˜Betterâ€™ For Everyone
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Johnsonâ€™s article lines up his reasons why Britain must exit on June 23rd. Itâ€™s time to be brave
OK, I know a lot of you think Boris is most accurately described by a word many people find offensive, but heâ€™s put together a very good argument here on why we must leave the EU. Published in part here under â€˜fair useâ€™ terms and conditions, in the public interest ...
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As we and almost everybody else predicted, David Cameron's deal to improve Britain's relationship with the EU is worthless. It changes nmothing, and can be vetoed once we have voted to stay in.
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