Lord Rothschild takes £130m bet against the euro
Lord Rothschild has taken a near-£130m bet against the euro as fears continue to grow that the single currency will break up.
“The member of the banking dynasty has taken the position through RIT Capital Partners, the £1.9bn investment trust of which he is executive chairman.
Some 53pc of RIT’s assets were in US dollars at the end of July, in part a reflection of its deal to buy a 37pc stake in Rockefeller Financial Services at the end of May.
Lord Rothschild is not alone in seeing value in shorting – or selling down – the euro. At a conference organised by business news channel CNBC in July, Mary Callahan Erdoes, head of JPMorgan Asset Management, said “shorting the euro” when asked for her single best investment idea.
In June, George Soros – the billionaire investor best known in the UK for helping to force sterling out of the European Exchange Rate Mechanism in 1992 by betting against the British currency – said that European leaders at that point had a “three-month window” to save the euro.”
The evil bastard pictured above is one of the world’s behind the scenes stringpullers, the fact that “it” is betting against the Euro, is very telling indeed.