George Soros Bags $1 Billion Betting Against Yen

Since November, George Soros, 82, has reportedly bagged nearly $1 billion betting against the Japanese yen. From November to February, the yen lost 20% against the dollar. Soros Fund Management holds an estimated 10% Japanese shares. 

Other large hedge funds like Greenlight Capital, Third Point, and Hayman Capital turned big profits riding down the yen, reports the Wall Street Journal.

Soros’s skill as a currency speculator is legendary. In 1992, the billionaire backer of left-wing causes placed a $10 billion bet against the value of the British pound that earned him $1 billion and the nickname "the man who broke the Bank of England.

From 2000 to 2009, Soros donated $550 million to liberal causes. During the 2012 election cycle, Soros donated $1 million to Obama super PAC Priorities USA Action, $2 million to two Democratic groups, and $500,000 to super PACs backing congressional Democrats.

With an estimated net worth of $19 billion, George Soros ranks #22 on the Forbes list of the world’s billionaires.


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“Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk,” Jonathan Burgos reports. What does this say about the US and, in particular, the policies of the Federal Open Market Committee, which are pretty much identical?

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