This morning, famed hedge fund manager, George Soros, who made $1 billion betting against the Bank of England some years ago, thought it was a 50/50 proposition that Greece would exit the euro. My feelings are it's closer to 100%, and it's just a matter of time before Greece implodes. The bottom line is, they don't want to pay back the money that they have borrowed in the past.
Recently, Australia's central bank cut interest rates to a record low, seeking to be more competitive in the global economy.
The Reserve Bank of Australia, or RBA, lowered the benchmark cash-rate target to 2.75%, expressing concern that the Australian dollar remains close to 30-year highs. According to the Economist Index, the Australian Dollar is 12% overvalued and is crippling the nation's manufacturers and exporters.
In this short video, I'm going to share with you the rumored trades that Geroge Soros made on the AUD. It is believed that he pocketed $60 million on these trades in just 36 hours. I will show you using our Trade Triangle technology just how you would've beat George to the punch.
Gold futures fell to a six-month low after Federal Reserve Chairman Bernanke says the U.S. economy is recovering, easing pressure for more stimulus measures by the U.S. Government.
Another blow to Gold was the announcement that Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as futures dropped the most in more than eight years.
With these big investors bailing out on Gold we wanted to know.....
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