George Soros Places $500 Million Bet On ‘Fall Of US Economy’
by Sean Adl-Tabatabai
YourNewsWire.com
February 24, 2017
Billionaire globalist George Soros has hedged a $500 million dollar bet on the U.S. economy failing and corporations becoming bankrupt.
According to Soros, companies that benefit from the policies of President Donald Trump will be “financially ruined” in the months ahead.
The billionaire is a vocal critic against Donald Trump, and was recently outed as being the main financier behind anti-Trump riots across America.
Newsmax.com reports:
Soros’ bets against stocks came in the form of puts, or options to sell, on two exchange-traded funds that track broad market indexes, CNBC reported.
He took out a put position of 2.5 million shares on the iShares Russell 2000, a fund that tracks the small-cap index, according to an S&P Global Market Intelligence analysis of Soros filings with the Securities and Exchange Commission. That ETF is up 21 percent since bottoming just before the election, and 12 percent from Oct. 1, CNBC reported.
That position had a notional value — if the puts were exercised — of $330.6 million, representing a 59 percent increase from the $208.4 million value in the third quarter.
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