Skip to comments.SOROS: 'What Japan Is Doing Is Quite Dangerous'
Posted on 04/05/2013 4:06:26 AM PDT by blam
SOROS: 'What Japan Is Doing Is Quite Dangerous'
April 5, 2013
Legendary investor George Soros is in Hong Kong for the INET conference.
He took a few minutes to speak with CNBC's Bernie Lo.
"Reports say you made a billion dollar shorting the yen," Lo said. "What are you trying to do? Break the Bank of Japan?"
"I think the Bank of Japan is eager to have people do that," joked Soros.
On Thursday, the BoJ's Haruhiko Kuroda announced extremely aggressive monetary policy, an effort to stimulate Japan's stagnant economy.
"It is a sensation because he broke some of the monetary taboos," said Soros about Kuroda. "It's a very daring undertaking."
He continued by discussing how to fight deflation.
"In the conditions of deflation that Japan has been in in the last 25 years, one way to break that is to have monetary policy, which buys in the market government bonds and the government providing fiscal stimulus so that it effectively doesn't increase the debt outstanding," explained Soros. "Because what the government sells in bonds on one hand, the bank buys with the other hand. The government owns the bank. That doesn't increase the debt."
"But if it stimulates the economy, using unused resources, then the economy grows," he said. "If you go to Japan, you will find people are quite excited."
Soros, however, warned that Japan's efforts to devalue the yen is risky.
"What Japan is doing right now is actually quite dangerous because they are doing it after 25 years of just simply accumulating deficits and not getting the economy growing," he explained. "So if what they're doing gets something started, they might not be able to stop it. If the yen starts to fall, which it has done, then people in Japan
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Russia still has a warrant for Soros for shorting the Rouble, causing it to devalue by a factor of three in 1999-2000.
Because he’s a U.S. citizen, countries having mutual defence pacts with the U.S. will not extradite him, because the U.S. does not have an extradition treaty with the Russian Federation.
Extradite? He should be hung, save the airfare.
The big story is Japan, which at one point was up nearly 4.5%, in the wake of aggressive action from the Bank of Japan.
But in the end, the Nikkei only ended up 1.5%.
A market up 1.5% is called a fizzle... What exciting times!
That vile maggot needs to be at the top of the list . . .
What's dangerous, George? Be specific.........oh wait, that would be a problem, wouldn't it?
I’d love to see Soros caught a billion on the wrong side of a short.
It would be like a freight train running over a bug.
Never happen though.
Soros lost his soul when he sold out to the Nazis.
“Where that evil bastard is concerned, karma has completely fallen down on its job.”
Well, he’s fat, old, and ugly.
Soros is Dr. Evil incarnate. The guy appears to enjoy manipulating whole government economies and societies from his evil lair. He would make a good James Bond villain. Problem is I think he would enjoy the role way too much.
dangerous? they’re printing more money? just like 0failure did after 1 month in office... and has 2 times since
would he admit that 0failures policies, and that of all big govt types, are all dangerous and designed to fail?
Translates as: "I bet on another horse."
Yeah, but he's still alive. I hope that changes soon.
I am surprised IVAN has not taken care of him.
He must have some very good sequrity on staff. Also, I would not want to be his food taster.
Sorry, very tired this morning, almost pulled out in front of a car this am.
IOW it might cost him money
Japan is the largest foreign buyer of US T Bills. If she blows up her economy, it will affect US because the largest buyer of US T Bills will not be available to help finance our deficit spending. This will force Fed Reserve to print more money or US gov faces defaulting.
Perhaps you're right. Otoh, Soros might be an agent of karma, possibly neither good nor bad, but merely used by the PTB where necessary, just like everyone else is.
I haven't studied what he has done and how, so my opinion is raw, but from what little I've heard, he seems to take advantage of what others have done to themselves.
From this point of view, he serves a function in the universe to back up "Murphy's law". He is one of the agents of change the law warns you about, the who makes good on the threat.
I don't like what he does, but I like that we make ourselves vulnerable to him and others like him even less.
He becomes what we eventually do to ourselves.
For that alone, never mind anything since, there's nothing appropriate short of a rope, imo.
Tho I surely appreciate the effort, as for the metaphysics of the rest of your fine post, will have to re-read after the cable guy's gone and the third coffee starts to kick in !
That was my thought. What is Japan doing that we haven’t done already and continue to do?
He turned on his fellow Jews and sent them to their deaths. Why hasn’t Shin Bet liquidated him?
Soros will never be held responsible for any of his doings
Soros is a big Free Trade Communist Globalist, and, even though many alleged conservatives complain about him....no Free Trader Communist Globalist really wants Soros busted...they are too linked to him
Soros was a member of the Carlyle Group, an investment group started by liberal GOP and which GHW Bush was involved in. He still has ties to both Dems and GOP
He even bought an oil company from George W Bush years ago. It later went bust (maybe the real reason Soros went after Bush 43 in 2004)
As long as the economic ignorant continue to worship Free Trade, nothing will happen to Soros. Many wish to rip off like Soros
His is the stuff of the end times, paving the way for the final 10.
Just a quick look around shows his hand stirring all the potions that are causing our problems, making it easy for others to connect the dots and claim him to be of the forth small horn that Daniel (7:8) spoke about. The times, too interesting, they are.