Is the market wrestling with a financial crisis as ugly as 2008? It is perhaps too early to tell given that there are just a few days of 2016 trading under investors’ belts. But so far, it isn’t looking pretty.
The unrelenting carnage in global markets certainly has at least one Wall Street heavyweight nervous. Billionaire trader George Soros told the Sunday Times in Sri Lanka on Thursday that the markets are “facing a crisis and investors need to be very cautious.”
“China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world,” the paper reported Soros saying.
China—the world’s second-largest economy—has been at the heart of market jitters over the past several months since its markets cratered in August.
Soros sees parallels between the current early implosion in markets and the 2008 financial crisis, which was fueled by excessive risk taking related to complex mortgage-backed securities.
George Soros came to Sri Lanka finally sad thing though he came and predicted about the next 'Financial Crisis' in the world yesterday in Colombo.
Doubt whether he will actually invest in Stocks but some say he will manipulate Sri Lankan Currency to the Maximum and will slowly bring SL Economy further down. Bet by some top international fund managers is that George Soros and his so called 'Open Society for Democracy' that create internal tensions among nations will work in a way that Sri Lankan Rupee to be downgraded against US $ at Rs.320 per US $ 1 by 2020 (within 4 years) and subsequently he will make an investment of US $ 1 billion in Sri Lankan Currency position and then he will support the whoever the next government appointed after 2020 to raise Sri Lankan Rupee from Rs.320 levels per Dollar to Rs.50 per Dollar by 2025 When he is 97 years he will make his biggest bet with Sri Lankan Rupee positions just like how he became a Billionaire excelled through holding in to British Pounds.
Developing nations will have to take harsh measures: George Soros
COLOMBO: Amidst the economic crisis in China, billionaire investor George Soros today warned developing countries that they will have to make "harsh" choices as funds are no longer pouring into those nations.
"Money is no longer coming to developing countries and harsh choices will have to be made instead of waiting for things to get better," Soros said.
He warned that external global environment will be hostile in the future and that funds would flow out of developing countri ..
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Billionaire George Soros warned investors on Thursday that the global economy could be facing a crisis.
At an economic forum in Sri Lanka, the hedge fund luminary pointed toward China’s currency devaluation and economic slowdown as major factors weighing down the global markets, Bloomberg reported. He said that the turmoil is a result of China’s struggle to transition to a new growth model.
On Thursday, a plunge in Chinese equities spilled over to send global markets into a tizzy. The Dow Jones Industrial Average dropped more than 200 points after the Chinese Central Bank made its most significant downward adjustment of its currency since August, according to The Wall Street Journal.
Chinese markets had their shortest day in history—a mere 30 minutes—after a newly installed circuit breaker designed by the China Securities Regulatory Commission halted trading. Though the circuit breaker was designed to stabilize markets amid volatility, the regulator reportedlydecided to stop using the mechanism after its use Thursday sent jitters through the markets.
Soros said that the current economic volatility is worrisome. “China has a major adjustment problem,” he said. “I would say it amounts to a crisis. When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008.”
The Mission of George Soros in Sri Lanka
Sri Lanka to face a BOP Crisis, lack of Foreign Reserves Crisis, Present Government 2015-2020 to borrow exponentially from Foreign Capital Markets and Bond Markets.
No infrastructure development or investor climate to make 'Sri Lanka an Investment Friendly Country' and No Public or Government Investment to motivate local Private Sector Investment. Economic growth to downgrade to 2% to 1% by 2020
Rupee already down 9% a year the highest since 30 years. This year the worst and the most downgraded currency is Sri Lankan Rupee and ranks number in Devaluation in the world for 2015.
Rupee will hit Rs.200 per US Dollar by January 2017 and Rs.270 per US Dollar by January 2018 there after slowly it will hit Rs.300 per US Dollar by 2019 and 320 Rupees per Dollar by 2020 by that time Sri Lanka will be worst than present Iraq and little better than Zimbabwe and by 2019 end George Soros will slowly start buying in Sri Lankan Rupee Positions totaling to US $ 1 billion by beginning 2021.
So when George Soros invest US $ 1 billion in Sri Lanka by 2020 the value in Sri Lankan Rupees will be nearly Rs.310 billion at Rs.310 per US $ 1 Dollar average exchange rate and after 2025 when Rupee starts its regain and revaluation at Rs.50 per US $ 1 Dollar, then George Soros will exist from Rs.310 billion and gain over capital gain of US $ 5.2 billion or simply nearly US $ 6.2 billion return in a 'Currency War Manipulation Mechanism in Sri Lanka' by that time Sri Lanka will be under a 'Planted US friendly Government' in 2025 and George Soros will handsomely retire see his 'White Flags' with a greatest story ever he did created in Sri Lanka.