why we should all read the the financial pages, especially when about to deal with money men.

This piece is from the FullerMoney Newsletter and is a report of a George Soros statement on CNBC.

Soros makes his money from manipulating and reading how Governments will act in financial matters.

For most of us, such info is irrelevant as regards what is essentially gambling. However, if one person (Soros) is making money, then someone else is losing it.

No doubt our millionaire politicians will see it as an opportunity to make money, rather than as a warning to put some protective measures in place to shield the public. The public needs to try and protect itself. It’d be nice if newspaper financial pages could advise us. I’m not clued up on these issues but if, at the simplest level, I was thinking of taking out a mortgage and thought that the US economy was on the up, I’d rush to a fixed rate one, sooner.

There will be a dramatic rise in interest rates as soon as there are clear signs the U.S. economy is picking up, billionaire financier George Soros told CNBC.

Soros said that the U.S. needs to reestablish growth to help shrink its debt pile and that the Federal Reserve’s policy of buying U.S. debt, is the right one since it doesn’t add to the net amount of debt outstanding. “It’s about as close to a free lunch as you can get,” he said.

But there is a risk, Soros warned, “Once the economy gets going, then interest rates are going to take a big leap.”

He called it a “delicate two-phase maneuver,” where first the Fed throws more money at the economy and then as the economy picks up the money needs to be taken back out. But as money comes out of the economy, it could arrest the recovery.

Soros expects interest rates to jump this year as soon as there are clear signs the economy is on the mend.

“It may already have begun,” Soros said of the move in rates. “I think it’s most likely to happen this year. Once you’re past the uncertainty about the budget and investment decisions are made I think you’ll see it.”

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