Investors Audio Course
When Britain was forced out of the Exchange Rate mechanism, George Soros was accredited with much of the blame for doing little more than speculating against Sterling in a very successful attempt to make loadsamoney. Georges says “It’s as if you’re a jungle animal, and you see another animal facing you. You have to make a decision; fight or flight? Your hair stands up and you growl and you decide: ‘Am I going to attack because I’m stronger or am I going to run away because otherwise he’s going to eat me? And that’s the tension that gives you the backache.”
Mr Soros believes that the possibilty of a depression is quite high and the chances are that it’s going to be terminal…Well, he said that it was going to ‘last forever’…
On that note, if the G20 leaders are having an East London bash, I think that we should all have our own East End knees up – just for old times sake!
George Soros, the man who in 1992, made $1bn out of ‘Black Wednesday’ has said that British Prime Minister Gordon Brown might have to go begging for international aid to the tune of billions of pounds.
He stated that Britain was particularly vulnerable to the economic crisis. Mr Soros was prompted to speak out following the failure of a government bonds auction.
Soros warned that in order to avert a full-scale depression, the like not seen since the thirties, the G20 meeting of the world’s most influential people would have to take immediate action.
He said “It’s really a make or break situation.” He further stated that Gordon Brown had underestimated the severity of the problem.
As it is, the world leaders have just four and a half hours at London’s ExCel Centre to put right the world’s banking system and solve a massive problem which has global implications of massive proportions.
The 20 member nations should remember that in 1944 at Bretton Woods, an agreement on a new global financial structure took 22 days to negotiate.
Can it be achieved in a matter of a few short hours? Hardly likely!
Like we didn’t already know!
London is set to hold the G20 summit and the member’s should pay heed to Strauss-Khan’s prophetic message:
“You can put in as much stimulus as you want. It will just melt in the sun as snow if, at the same time, you are not able to have a smaller, but healthy financial sector at work.
In these trying financial times it still seems that we can afford to watch our favourite soccer teams and if you’re looking to make a killing out of one of the teams, then look no further than Tottenham Hotspur PLC. Spurs have just announced profits for the last six months of almost £40m.
When you consider that the new Spurs ground (set to take 2 years to build) will hold more than 60,000 fans – nearly twice the present capacity, any shares bought now will likely rise following the completion of the ground.