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EU: Lord Rothschild takes 130m bet against the euro
The Telegraph ^ | 8/18/2012 | James Quinn

Posted on 08/18/2012 5:20:41 PM PDT by bruinbirdman

Lord Rothschild has taken a near-£130m bet against the euro as fears continue to grow that the single currency will break up.

The member of the banking dynasty has taken the position through RIT Capital Partners, the £1.9bn investment trust of which he is executive chairman.

The fact that the former investment banker, a senior member of the Rothschild family, has taken such a view will be seen as a further negative for the currency.

The latest omen follows news in The Daily Telegraph late last week that the government of Finland is already preparing for the euro’s break-up.

RIT, which Lord Rothschild has led since 1988, had a -7pc net short position in terms of principal currency exposures on the euro at the end of July, up from -3pc at the end of January. Given a net asset value of £1.836bn at the end of July, the position is worth £128m.

Sources close to RIT suggested that the position was not a dogmatic negative view on the euro as a currency, but rather a realistic approach on a currency that remains relatively weak.

It is not the first time Lord Rothschild has used currency positions as a form of hedge. RIT significantly increased its exposure in sterling after the currency’s decline in 2008, but then scaled back on both the sterling and the euro, anticipating the ensuing recessions in both regions.

Some 53pc of RIT’s assets were in US dollars at the end of July, in part a reflection of its deal to buy a 37pc stake in Rockefeller Financial Services

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: eucrisis; eurocrisis; rothchild

1 posted on 08/18/2012 5:20:45 PM PDT by bruinbirdman
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To: bruinbirdman

The Rothschilds are a dynasty that has done more harm than good.

Conspiracy theories aside, this is a family that has never seemed to care about the consequences of their actions

To my dying day I will believe that Europe would have been a better place had the Rothschilds not existed

Again, this is not due to any of the conspiracy angles that permeate the web/thoughtsphere. This is more against the predatory/vulture banking that has been destructive to the world.


2 posted on 08/18/2012 5:31:39 PM PDT by SoftwareEngineer
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To: bruinbirdman; a fool in paradise

Stick to the wines, Rotschee!


3 posted on 08/18/2012 5:43:10 PM PDT by Revolting cat! (Bad things are wrong!)
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To: bruinbirdman

“Some 53pc of RIT’s assets were in US dollars at the end of July, in part a reflection of its deal to buy a 37pc stake in Rockefeller Financial Services”


4 posted on 08/18/2012 6:14:15 PM PDT by sf4dubya (I rebelled against my parents by becoming a conservative)
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To: SoftwareEngineer

It is not as if it were possible in any way for them to do any harm of any sort here though.

The Euro is going to collapse by the end of 2013.
Thats carved in stone, and anyone with even the tiniest grasp of Belgian economics has seen it for some time.

Maybe this can wake someone who wasn’t paying attention in time to save at least a portion of their wealth.


5 posted on 08/18/2012 7:27:46 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: SoftwareEngineer

It is not as if it were possible in any way for them to do any harm of any sort here though.

The Euro is going to collapse by the end of 2013.
Thats carved in stone, and anyone with even the tiniest grasp of Belgian economics has seen it for some time.

Maybe this can wake someone who wasn’t paying attention in time to save at least a portion of their wealth.


6 posted on 08/18/2012 7:28:05 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: MrEdd
Well, Mr. smartypants, if you are going to throw out predictions as if they are pre-determined let me join in the fun.

Greece will exit the Euro (5 seconds before getting kicked out) to the surprise of no one in 2013. By 2014 the other Euro countries, having seen the spectacular crashing and burning that has happened in Greece, will continue bowing to Brussels. This will allow the Europeans to kick the can down the road in ways that would have them screaming for blood if a conservative nation did what they will be doing. The Euro will survive as a weakened currency for another decade.

7 posted on 08/18/2012 8:07:24 PM PDT by jdsteel (Give me freedom, not more government.)
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To: jdsteel

Spain, Portugal, and Italy aren’t all making it to 2014.
Nor is France looking too healthy.

War.


8 posted on 08/18/2012 8:50:01 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: bruinbirdman
Weird...
What's with the "130 million" figure? From yesterday:

Soros Unloads All Investments in Major Financial Stocks; Invests $130 Million In Gold

9 posted on 08/18/2012 8:59:27 PM PDT by Lancey Howard
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To: Lancey Howard
"What's with the "130 million" figure? From yesterday:"

That was my first thought too.

Something is afoot....

10 posted on 08/18/2012 9:23:22 PM PDT by blam
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To: MrEdd
So are you willing to bet 100 Euro? Keep in mind that if you are right the Euros will be worthless!

I am kidding, of course.

11 posted on 08/19/2012 6:57:45 AM PDT by jdsteel (Give me freedom, not more government.)
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To: blam

Hey, if it worked once before, they will do it again!


12 posted on 08/19/2012 10:01:44 AM PDT by sf4dubya (I rebelled against my parents by becoming a conservative)
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To: MrEdd

Nothing is carved in stone. And the trust in the euro is actually increasing, especially versus the dollar, believe it or not.

The euro was set up to deliberately cause a financial crisis (a “beneficial crisis” in the words of the Euro elites). The resultant crisis was designed to induce the countries of the EU (or at least the eurozone) to give up their sovereignty to Brussels (or another central government) to a greater degree. This is exactly what Germany wants in exchange for “bailing out” the weaker EU economies.


13 posted on 08/21/2012 11:16:45 AM PDT by Olog-hai
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