Let's start

[Jim in CT]

Originally Posted by Pete F.

How did Soros make a billion dollars in a day?
Others lost.
He's a trader, not an investor.
George Soros is most famous for his single-day gain of $1 billion on September 16, 1992, which he made by short selling the British pound. At the time, England was part of the European Exchange Rate Mechanism, a fixed exchange-rate system that included other European countries. The other countries were pressuring England to devalue its currency in relation to the other countries in the system or to leave the system. England resisted the devaluation, but with continued pressure from the fixed system and speculators in the currency market, England floated its currency and the value of the pound suffered. By leveraging the value of his fund, Soros was able to take a $10 billion short position on the pound, which earned him $1 billion. This trade is considered one of the greatest trades of all time, and Soros is often credited as the man who broke the Bank of England.

"How did Soros make a billion dollars in a day?
Others lost."

The loss of others, was NOT a requirement for Soros to win. Like many ignorant people, you think the economy is a zero sum game. It's not. There's no mathematical law saying that someone has to fail in order for someone else to succeed. It's not finite. It's possible that every stock on the exchange can go up in a given day, that does NOT mean anyone else necessarily lost anything. How can you not get that?

Others losing, isn't "how" he won, not unless he cheated. Are you saying he cheated? Was he involved in a 'pump and dump'?

He bet the value of the pound would decrease. His bet, did not cause the pound to decrease.

[Pete F.]

Originally Posted by Jim in CT

"How did Soros make a billion dollars in a day?
Others lost."

The loss of others, was NOT a requirement for Soros to win. Like many ignorant people, you think the economy is a zero sum game. It's not. There's no mathematical law saying that someone has to fail in order for someone else to succeed. It's not finite. It's possible that every stock on the exchange can go up in a given day, that does NOT mean anyone else necessarily lost anything. How can you not get that?

Others losing, isn't "how" he won, not unless he cheated. Are you saying he cheated? Was he involved in a 'pump and dump'?

He bet the value of the pound would decrease. His bet, did not cause the pound to decrease.

He didn't cause it but it was basically similar to a pump that got dumped, done by the Bank of England to try and prop up the pound that he took advantage of. Others lost, he gained.
So, you're correct, he no more caused that loss than he caused the loss of property to the transported Jews.

[Jim in CT]

Originally Posted by Pete F.

He didn't cause it but it was basically similar to a pump that got dumped, done by the Bank of England to try and prop up the pound that he took advantage of. Others lost, he gained.
So, you're correct, he no more caused that loss than he caused the loss of property to the transported Jews.

"He didn't cause it but it was basically similar to a pump that got dumped"

But it didn't get dumped because of him. If he didn't contribut eto it, he has no reason to feel guilty.

"he no more caused that loss than he caused the loss of property to the transported Jews"

In the 60 Minutes interview, he didn't deny helping the Nazis seize Jewish property. He said he didn't feel guilty about it, which necessarily means he concedes that he did it. So I'm not sure how you seem to know more about his role, than he does.

If he didn't help the Nazis, he would have said "I didn't help the Nazis". What he said was that he helped them, and he doesn't feel guilty about it.

The liberals here are all over the place on this. The only thing you can agree on, is that you can't bear to admit what he himself admits.

[Pete F.]

Originally Posted by Jim in CT

"He didn't cause it but it was basically similar to a pump that got dumped"

But it didn't get dumped because of him. If he didn't contribut eto it, he has no reason to feel guilty.

"he no more caused that loss than he caused the loss of property to the transported Jews"

In the 60 Minutes interview, he didn't deny helping the Nazis seize Jewish property. He said he didn't feel guilty about it, which necessarily means he concedes that he did it. So I'm not sure how you seem to know more about his role, than he does.

If he didn't help the Nazis, he would have said "I didn't help the Nazis". What he said was that he helped them, and he doesn't feel guilty about it.

The liberals here are all over the place on this. The only thing you can agree on, is that you can't bear to admit what he himself admits.

Walk thru you logic
He didn’t cause the market loss no guilt
He didn’t cause the holocaust no guilt
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[Jim in CT]

Originally Posted by Pete F.

Walk thru you logic
He didn’t cause the market loss no guilt
He didn’t cause the holocaust no guilt
Posted from my iPhone/Mobile device

He actively helped the nazis confiscate property from jews. He didn’t cause the Holicaust, but he collaborated with those who did. He admitted this to steve croft. if you still didn’t get how that’s a tad more sinister than innocently playing the commodities market, i can’t help you, try to find a pop-up book that explains it.
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[detbuch]

Originally Posted by Jim in CT

He actively helped the nazis confiscate property from jews. He didn’t cause the Holicaust, but he collaborated with those who did. He admitted this to steve croft. if you still didn’t get how that’s a tad more sinister than innocently playing the commodities market, i can’t help you, try to find a pop-up book that explains it.
Posted from my iPhone/Mobile device

Jim, here's a video which explains why the Snopes thing is a lie.



This will not convince Spence or wdmso or PeteF, et al., but
it is a rebuttal of Snopes--take it for what you will.

[wdmso]

Originally Posted by detbuch

Jim, here's a video which explains why the Snopes thing is a lie.



This will not convince Spence or wdmso or PeteF, et al., but
it is a rebuttal of Snopes--take it for what you will.

Wow funny they didn't cover the real guy in the SS uniform you got SMOKING GUN NOT NICE TRY.. so you in the nazi collaborator camp. of course you are

[spence]

Originally Posted by detbuch

Jim, here's a video which explains why the Snopes thing is a lie.



This will not convince Spence or wdmso or PeteF, et al., but
it is a rebuttal of Snopes--take it for what you will.

Come on, this is a 3rd grade level of critical thinking here.
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