- Aug 23, 2009
A number of hedge fund managers including the infamous George Soros are shorting the Euro likes there no tomorrow (literally). Is this financial terrorism?
Is the EURO on the brink of collapse? | Global Crisis NewsGeorge Soros recently claimed the euro may not survive and be in danger of total collapse, given the sovereign risk threat from Greece and the growing debt burden of other member states.
Soros declared that gold is a bubble at the World Economic Forum in Davos in January. When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment, he said. The ultimate bubble is gold.
Mr Soros made his fortune by betting against the pound and breaking the Bank of England during the ERM crisis of 1992 .
Both Spanish and Greek prime ministers have accused hedge funds like Soros Fund Management of aggressive short selling of the euro, according to a report in the Independent.