George Soros is one of the most successful hedge fund managers and currency traders to ever try his hand at financial services. Soros, unlike others who have made billions in the financial world, does not like to keep a completely low profile. He invests a great deal of time speaking publicly about monetary, fiscal, and political policies. Most recently, Soros has chimed in an opinion on “The Brexit”, which is the name given to the possible departure of Great Britain from the European Union (EU).
USA Today is reporting that George Soros warns against the public voting for an exit from the EU due to the potentially dire economic fallout that might occur. The stock market may suffer immeasurably and the currency markets could suffer a collapse. The hour of the referendum vote has now arrived and the world will know shortly what the majority of the British people want.
Soros is not alone in his suggestion that Great Britain and the United Kingdom remain part of the European Union. The Prime Minister, David Cameron, has also endorsed the remain camp. Soccer legend David Beckham is also a remain devotee. Learn more about his profile at forbes.com
How much weight do these endorsements from high-profile figures? There are some who do take such public endorsements seriously. Others may have their own personal reasons for remaining or exiting. Still, it never hurts to listen to the words of those who have something important to say about the matter.
George Soros has made some logical points about why leaving the EU could be harmful to the world economy. The inability for trade to flow freely in and out of the United Kingdom is going to have fiscal consequences. Whether or not people take those consequences seriously is another matter. Soros may be able to persuade some based on his many years of being right about fiscal matters.
Learn more about George Soros: http://www.nybooks.com/contributors/george-soros/