It seems that somebody somewhere made an awful lot of money making betting that the United States would lose its AAA credit rating.
Not surprisingly some are suggesting that George Soros might be that somebody. What is surprising, however, is that so many considered this eventuality to be a longshot.
For more we go to the UK via The Daily Mail:
A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.
Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market, or if the bet happened at all.
There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.
Was it him? George Soros, 80, has been mentioned as potentially being the mystery investor who won a $1billion bet that the credit rating would fall
He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.
And while it is not a certainty that George Soros was behind this one thing is abundantly clear. Whoever made all this money betting against the health of the U.S. economy has just about as much faith in Obamanomics as we do.
Written by Kip Hooker at TheVitaminPress.com
Source: Daily Mail UK
