George Soros and the Possible UK Recession

There is currently a large debate regarding whether or not the UK should leave the European Union. Those for remaining have begun what is called the “Remain Campaign.” David Beckham is one of those who has put his full support behind this campaign. His wife, former Spice Girl, Victoria Beckham, agrees entirely with this stance. In fact, her stance became even greater than her husbands after it was made more personal when constituents for leaving the union misused for their benefit some statements she made over 20 years ago.

Prime Minister of the UK, David Cameron, and George Soros is also with those who are opposed to leaving the union. He says this is an imperative decision that will drastically affect future generations and that if the UK does decide to leave there will be no deciding to go back. In addition, it is expected that the value of the pound will fall in the face of an exit. It would be lowered to the point that a pound would be roughly equal to a euro. Today they vote on this referendum and this massive decision will definitely be decided. The lowering of the British pound in 1992 was taken advantage of by billionaire investor George Soros, who made his vast fortune by betting against it.

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Billionaire Soros Was ‘Long’ on Pound Before Vote on Brexit

George Soros himself is predicting the drop to be even greater this time if there is a vote to leave. There are constituents for leaving that are deeply skeptical of his prediction, citing the many inaccurate predictions he has made in current years. On the other hand, these powerful constituents have conceded that it is possible that a countrywide recession may in fact occur if an exit takes place. It does not seem to be really known exactly what the British people think. The various polls have all been close with some polls saying slightly more want to stay while other polls saying slightly more want to leave. Over this past weekend, however, there seemed to be more of an increase in voters wanting to stay and this has driven stocks back up. We will have to wait for the results of UK voters voting on the referendum today.

Learn more about George Soros:
 http://www.nytimes.com/topic/person/george-soros