Who 'made $10bn on 10/1 bet that U.S. credit rating would be downgraded'?

Who 'made $10bn on 10/1 bet that U.S. credit rating would be downgraded'?

www.dailymail.co.uk

A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.

Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market, or if the bet happened at all.

There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.

(visit the link for the full news article)


Related News Links:
www.bloomberg.com

Related AboveTopSecret.com Discussion Threads:
Soros to End Hedge-Fund Career, Return Money to Clients

Yes, that's $10billion made on a futures bet back on July 21. That's a 1000% return on investment. Not too bad eh?

We can only speculate that this had something to do with George Soros based on his run on the Bank of England that netted him $1 billion.

The timing of this particular $10 billion deal ties quite nicely into Soros' recent announcement that he is getting out of the public business and will focus on the family investments. Hmmm....

www.dailymail.co.uk (visit the link for the full news article)

could be any of 'em.

Remember folks, you can admire the wealthy all you want. You can exalt them, pamper them, demand that you take cuts so they can have favors. You can do all this and hope to someday climb Olympus and join those you worship so adoringly... but always remember, they're betting against you, and they have the means to rig the game.

A little more

The link has been made to Mr Soros in part because he has been tied to President Obama’s administration since 2008, reported The Examiner.

He also recently stopped managing money for outside investors, meaning he is under less scrutiny from the Securities and Exchange Commision

But the mystery bet could easily have been made by another trader with similar resources, despite Mr Soros’s links with the Obama administration.

The bet also raises questions of whether President Obama and Treasury Secretary Timothy Geithner knew that a downgrade was on the cards.

Mr Geithner said in April there was ‘no risk’ of a downgrade - but the government now appears annoyed, not surprised, by last week’s decision.

Read more: www.dailymail.co.uk...

My 10/1 bet is on Soros!! The man calculates every move with great detail and even greater intent as he rushes to advance his Soros Utopia. "The Open Society". This is the perfect ploy for a textbook Megalomaniac.

reply to post by TheWalkingFox
wow. revolutionary thoughts, and so devastating for the "elites".
do you want to play the banjo in the wilderness like the people in your avatar ?
go ahead, you just need to buy a banjo and walk off.

Why would you need insider information to bet on something so obvious?

There is NO way anyone who has already aquired that kind of dough would risk a 10 to 1 bet on a NEW ranking of the U.S. credit without some kind of insider knowlege. No way.

Why would you? " Hmmmmm I have 850million bucks, I think I''ll wager it on U.S. dollar tanking and make 10billion. Oh....What the heck."

No way... When the White House found out we were was going down in ranking,don't tell me Geitner,who was REALLY ticked off,didn't tell SOMEONE when he found out.

It's not like they did'nt know in advance.

Common sense tells you insider trading. Nice timing too. Wanna bet the Democrats running will have a nice war chest this election?

What I want to know is, why can't they tell who it is who placed this "bet"?

How come I can't open a bank account without showing all kinds of ID, yet apparently you can place billion dollar trades in the markets anonymously? Just like all those puts on the airlines before 911? Isn't there something called the SEC?

reply to post by CaptChaos


In the UK you have to supply all kinds of information and have all sorts of checks done if you deposit £10k in your account, so I agree with you where are the checks done on this person? oh yeah thats right they've bought the people doing the checks.

reply to post by icepack


Actually i'd be content if so many of my fellows would get it through their heads that these people aren't actually worthy of worship and servitude.

and honestly, a nice vacation in Tuva with my guitar wouldn't be half bad. They're nice people, if you don't mind fermented mare's milk.

reply to post by TheWalkingFox

how do you pay your bills and vacations, if i may ask ?
you are not cooperating with this "evil" system, are you ?

Let's not forget that congressional members are exempt from insider-trading regulations

Let's not forget that between 2004 and 2009:
- personal net-value of Democrats (41) grew by 756%
- personal net-value of Republicans (39) grew by 168%
(Source)

Let's not forget that over 60% of congressional members hold law degrees. If lawyers became lawyers because they were concerned about the law - they would have become cops.

Since it was Standards and Poor who changed the rating it had to have been someone with very deep ties with them. They probably made an insider deal with the management of S&P receiving a kickback of some sort. I don't know who has those kinds of connections.
Bottom line is who is paying out the $10 B?

Originally posted by Asktheanimals
Since it was Standards and Poor who changed the rating it had to have been someone with very deep ties with them. They probably made an insider deal with the management of S&P receiving a kickback of some sort. I don't know who has those kinds of connections.
Bottom line is who is paying out the $10 B?

It will be paid out via unspent Stimulus fund There is still $125 billion sitting around somewhere.

The USA should have made the bet at a much higher stake.... that way not only would the credit rating drop, but they would also bank on doing so.... and in essence climb back out of the hole....

reply to post by longtermproject



That's funny... We should have bet against ourselves and stuck the foriegn investors with the loss.

You ever see a Chinese hit squad?

They would just take over Apple, and all the other manufacturing operations in China and say....OURS!

They did that in Cuba a while back. Ask the Mafia how that worked out for them.

Here is an example of people who bet against the U.S. treasury bond...


Eric Cantor's glaring conflict of interest
Eric Cantor Short Treasuries

I couldn't be bothered to search this morning, but please... PLEASE, for those of you still caught up in the Republican vs. Democrat charade, believe me, both sides are just as bad!

The problem is, that people with socio/psychopathic traits (i.e. lack of empathy, the ability to lie without remorse, extreme narcissism, the need to control others etc...) have taken over the political theater of the world.

They do not care one iota what happens to the citizens of their countries as long as they (and their friends) continue to be able to siphon tax dollars into their bank accounts.
"Another war killing hundreds of thousands here, hmm, well, I would be able to get that colonial in the Hamptons... tanking the world economy, hmm, well that would help my buddy with his yacht payments..."

[sarcasm] Just remember, the people in power are there because they care for you... oh yeah, and trickle down economics works! [/sarcasm]

the Billmeister

Let's not forget that the S&P announcement, and any such announcements by rating agencies, are nothing more than "opinions."

Which is to say, these people have a protected right to change the rating of any financial entity whenever and to whatever they 'feel like.'

There is no formulaic basis for their rating... despite their gymnastic gyrations to pretend that there is a science behind their actions; and when push comes to shove they consider their actions as 'free speech.'

So we need to put this in the proper context of market manipulation - which is exactly what this is....

Here's the real question: Why is such action anonymous? This is something I don't get.

ATS is a "conspiracy" forum. The definition of conspiracy is joining with others in a secret action that benefits the conspirators and leaves others in the dark of a seemingly random, scape-goated or otherwise anonymous action.

Fox News is saying it's Soros, so I'm willing to bet it is not. But in the end I don't care who this individual is. I'm more worried about a supposedly free society that rejects evidence such as this that the game is rigged.

Focusing on finding and hating the "player" distracts from the real focus: hating the "game". Next time BP or Exxon spills, why should I waste my energy finger-wagging their show of greed when it is continuously promoted by the system that stays in place once the media frenzy of the incident dies down. Same with product recalls, spinach contamination and collateral damage. It's an exercise in futility.

EDIT: In the interest of the thread, might I suggest that Corporations are "people" too. Why would we assume that only one living person is involved in turning 850 million into several billions?

Originally posted by Sphota
Here's the real question: Why is such action anonymous? This is something I don't get.

ATS is a "conspiracy" forum. The definition of conspiracy is joining with others in a secret action that benefits the conspirators and leaves others in the dark of a seemingly random, scape-goated or otherwise anonymous action.

Fox News is saying it's Soros, so I'm willing to bet it is not. But in the end I don't care who this individual is. I'm more worried about a supposedly free society that rejects evidence such as this that the game is rigged.

Focusing on finding and hating the "player" distracts from the real focus: hating the "game". Next time BP or Exxon spills, why should I waste my energy finger-wagging their show of greed when it is continuously promoted by the system that stays in place once the media frenzy of the incident dies down. Same with product recalls, spinach contamination and collateral damage. It's an exercise in futility.

EDIT: In the interest of the thread, might I suggest that Corporations are "people" too. Why would we assume that only one living person is involved in turning 850 million into several billions?

edit on 9-8-2011 by Sphota because: (no reason given)

It's probably Murdoch blaming Soros. And he probably wiretapped S and P before making the bet and blaming Soros.

It could happen.