There is not much to say on this blog about this subject because this is an economics issue, yet it is important if this story is true. It has major implications for the Australian economy and beyond.
George Soros once bragged about how he broke the Bank of England. It appears that he has another target in mind.
The Australian dollar has been strong for the past year and in the past few weeks it has started going into a freefall. The last time that happened was in 1984 when the Australian dollar was floated for the first time. The fall in the value of the dollar against the US dollar, at that time impacted us when we went to live in the USA whilst my husband was studying at the USAFIT to get his degree as a Master of Science in Logistics Management. We watched in horror as the $A dropped dramatically in a very short period of time after we arrived in the USA. It stayed low for several years before the bounce that brought it over the $A1/$US1 mark.
I have known for several years that George Soros has had his finger in the Australian politics pie. Up until now I have not heard of him doing anything so dastardly as attempting to break the Reserve Bank of Australia, which is the equivalent of the US Federal Reserve in some respects.