George Soros On The Chinese Economic Situation

Whenever George Soros speaks, everyone with any investments should listen. Bloomberg listens and reports on his speeches at the numerous economic summits where he opines on matters economic. Soros is a rich man; he began a hedge fund in New York City in the 1950s, and it has soared in value to be worth $24 billion. He no longer works at his hedge fund but spends his time working for the betterment of humanity as the director and founder of his Open Society Foundation on Soros is a force for liberal change and openness in government in America and the rest of the world.

There has been an ongoing right-wing attack campaign aimed to discredit Soros. It seems that the Republican one percenters on don’t like his political stances or his support for Snopes. He has been labeled both a communist and a fascist by those on the right of the political spectrum. This is hard to do for anyone who knows the difference between the two words. But for those who seek to discredit Soros, any attack is deemed worthy.

The reality about the man George Soros is that he is a valuable, knowledgable person and America should prize him as an adopted son of Uncle Sam. His childhood was spent in Hungary in a prosperous family that was turned upside down by the incursion of German forces occupying Hungary during the Second World War and later by Russian Communist liberating forces. He and his family were able to flee to the United Kingdom where he received his education on, and finally, Soros entered the United States and began his successful career in the financial world.
 His most famous investment strategy, which resulted in a gain of more that $1 billion, came in 1992 when Soros foresaw a monetary crisis occurring in the United Kingdom. He bet against the Pound Sterling, which traded against other currencies on the Foreign Exchange Currency Market, and his position paid off, allowing him to realize that tremendous profit.

George Soros is, currently saying and probably doing the same thing to the various Asian currencies. He feels that they are overvalued and because of the debt crisis which is occurring in China that the yuan, the Chinese currency, will lose value. He goes on to stipulate that all Asian currencies will lose value because all currencies in the area are interconnected.
Soros has been very right in the past, and investors should listen to him now.

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