Rep Claims George Soros Was "Long" Pound Before Brexit Vote

Chris Menahan
InformationLiberation
Jun. 28, 2016

Soros allegedly lost money by being long the pound, but made money due to his heavy investments in gold.

Via Bloomberg:

George Soros, the billionaire whose 1992 wager against the pound made hedge fund history, didn’t repeat the bet ahead of sterling’s record tumble on Friday.

Soros was “long” the currency before Britain’s vote to leave the European Union on Friday, and didn’t “speculate against sterling while he was arguing for Britain to remain,” a spokesman said in an e-mailed statement Monday. “Because of his generally bearish outlook on world markets,” Soros did profit from other investments, according to the statement.

It came out earlier this year Soros had bought tons of gold, which saw a large jump after the Brexit vote succeeded against all odds.

His fear-mongering no doubt played a large part in the pound's collapse. Part of his "investment strategy" is to try and whip up panics to profit off of people's overreactions during uncertain times.

While most people work to earn an honest living, Soros works to exploit people's weaknesses and fear for personal profit.