- uploaded: Aug 21, 2012
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If the actions of Lord Jacob Rothschild are anything to go by, the long predicted collapse of the Euro may not be far away, with the banking titan placing a $200 million dollar bet against the troubled single currency.
"Lord Rothschild, an elder member of the dynastic Rothschild banking family, has taken the position against the euro through RIT Capital Partners, the 1.9 billion pound investment trust of which he is executive chairman," reports CNBC.
RIT has upped its short against the Euro from 3 per cent in January to 7 per cent in July.
The European Central Bank continues to try to re-animate a dead corpse by continually pumping bailout money into debt-ridden countries like Greece, Ireland, Portugal and Spain.
However, top investors only see it as a matter of time before the single currency is consigned to the landfill of economic history.
Last week, influential German newspaper Der Spiegel reported that "Banks, companies and investors are preparing themselves for a collapse of the euro."