Did george Soros ‘make $10bn on 10/1 bet that U.S. credit rating would be downgraded’?

UK’s Daily mail: Who ‘made $10bn on 10/1 bet that U.S. credit rating would be downgraded’?

* Unknown investor or hedge fund ‘made $850million bet’
* Bet in futures market reportedly done at odds of 10/1
* George Soros made similar bet on currency in 1992
* But source says he wasn’t involved in rumoured trade

By Mark Duell 9th August 2011

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….

The latest bet was made on July 21 on trades of 5,370 ten-year Treasury futures and 3,100 Treasury bond futures, reported ETF Daily News.

Now the investor’s gamble seems to have paid off after Standard and Poor’s issued a credit rating downgrade from AAA to AA+ last Friday.

Whoever it is stands to earn a 1,000 per cent return on their money, with the expectation that interest rates will be going up after the downgrade.

Read more: http://www.dailymail.co.uk/news/article-2023809/Did-George-Soros-win-10-1-return-S-Ps-US-credit-rating-downgrade.html#ixzz1UYEOrZkS

Read rest here

July 26 – Reuters Breakingviews columnists say there is more to George Soros’ departure than SEC red tape, and threat of a U.S. credit downgrade exposes the mistaken idea of a “risk-free” investment.

George Soros: (2009) Orderly decline of the dollar desirable , Global Currency, + NWO

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George Soros: China must be part of NWO & US de…, posted with vodpod

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