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http://www.breitbart.com/big-government/2016/06/27/puppet-master-soros-losses-big-betting-british-people/

Puppet Master Soros Losses Big Betting Against British People

In the two weeks leading up to the June 23 Brexit vote, Soros apparently used a “reflexivity” fear campaign to affect the value of global stocks and the British pound.

Soros published an article in the UK Guardian claiming that a vote to leave the EU would trigger an economic disaster: “It is reasonable to assume, given the expectations implied by the market pricing at present that after a Brexit vote the pound would fall by at least 15% and possibly more than 20%.”

The timing of Soros’s comments was coupled with the release of a wildly questionable British Treasury economic “model” that estimated a Brexit vote to leave the EU would reduce UK household Gross Domestic Product by $6,321 by 2030.

The reflexivity scare tactics did seem to work over the next few days following the vote. With panic spreading in the markets as stock prices tumbled, the exchange rate of the British pound plunged.

The Puppet Master just admitted that while he was scare-mongering investors into selling, his $25 billion personal investment fund went “long” the British pound before the June 23 referendum.

Soros apparently loaded up on the pound sterling through futures contracts that allow 99 percent leverage, with a margin down payment of only $900 to control $90,625 worth of British currency. He has not disclosed how large his “long” British pound bets were before the June 23 Brexit vote, but he bet $10 billion in futures on his 1992 “short” bet against the pound.

But this time, Soros’s reflexivity investment strategy failed miserably, as the British people refused to be cowed by the Puppet Master and voted to leave the EU. The exchange rate of the British pound fell from about $1.50 to the dollar on Thursday, June 22 to $1.31 on Monday, June 27.

Puppet Master Soros has not disclosed how much he wagered against the bravery of the British people on June 23. But if he bet $10 billion, the Puppet Master just lost $1.27 billion.

#soros #brexit