Some of you will have woken up to newspaper headlines extolling the wonders of the ‘Big O’ and its promises to make the earth move for you too – the world watches as Obama achieves the ‘Big O’. Sex used to be such a private activity.

Others will be trailing their fingers across headlines spelling doom and despair as the banking crisis drags the UK gurgling down the plug hole. The pound crashed to its lowest levels since 2001 – partly on the words on one man. Barack Obama? Nope. Gordon Brown? Nope, despite his delusions, the past few weeks have proved that his words alone are not enough to influence the markets – if they were, we might not be in trouble. No, the man involved is called Jim Rogers, and his statement to Bloomberg news,

‘I would urge you to sell any sterling you might have. It’s finished. I hate to say it but I would not put any money in the UK.’

was flashed around the world’s money markets in seconds with the result was that the pound was in reverse against all 16 major actively-traded currencies.

You may well ask ‘who is this man’ whose apocalyptic words wield more power than Presidents or Prime Ministers? He is a past partner of George Soros. In 1992 the pair of them joined forces to bet against the pound, and made an estimated £1 billion pounds doing so. Naturally they were betting that the value of the pound would fall.

When you hear this investment broker tell the world to ‘sell sterling – it is finished’, you might usefully enquire whether he has placed another bet that the value of sterling will fall again.

Coco January 21, 2009 at 23:19

In these grave times …………. ‘Put your money where the Evil Bastards tell you
not to put it’ is my motto!

Of course ………… Here on this web-site – we know what the crack is!

We know that this is all a global conspiracy – to get us all at it and
invest in arms and War.

Past history since time immemorial tells us that the World only thrives
when revolutionary changes happen ie. War!

The machinations of War ……… from the smelting of metals to the construction
of vehicles and weaponry is what creates industry: gives us innovative
technology and develops our medical skills ……….

So War it is then! Righty O!

Saul January 21, 2009 at 16:39

Seems like The pound is getting a bit of a rogering.

Sterling Comment Anna. I’m putting all my savings in 50p pieces , you can’t
trust the pound.