Friday, March 27, 2009

The real Reason Soros is spending huge amounts to destroy The US political and economic system

It has always troubled me why a man like George Soros would be spending so much of his money on extreme left wing causes. This is a man who grew up during the Nazi occupation of Hungary. George was born with the last name of Schwartz. The family changed its name in 1936 from Schwartz to Soros, in response to growing anti-semitism with the rise of Fascism.



He was also a Nazi sympathizer. Soros worked for the Jewish Council, which had been established during the Nazi occupation of Hungary to forcibly carry out Nazi and Hungarian government anti-Jewish measures. In his autobiography, entitled “Soros on Soros,” he blithely describes how as a teenager he helped cart off the possessions of Hungarian Jews after they were sent to concentration camps. Soros wrote that this never bothered him, even though his father was Jewish and he grew up in a Jewish home. He says he has no regrets for his actions. “Somebody would have done it,” he wrote.



Now he is funneling tons of money into extreme left wing organizations that are attempting to stifle any opposition to their views. He has spent millions on the left wing attack group the Center for American Progress, gave millions more to MoveOn.org. during the 2003-2004 election cycle, Soros donated $23,581,000 to various 527 Groups dedicated to defeating President Bush. Soros also pushed for the McCain-Feingold Bipartisan Campaign Reform Act of 2002 which was intended to ban "soft money" contributions to federal election campaigns. While banning donations to the Democratic National Committee, no such restrictions exist on soft money donations to 527 organizations. As we now know this measure allowed Soros, in effect, to gain control over the Democratic party. Soros has responded that his donations to unaffiliated organizations do not raise the same corruption issues as donations directly to the candidates or political parties. He is a real piece of work! They do, however, allow him to exert enormous control over the Democratic party. After Bush's reelection in 2004, Soros and other wealthy liberal political donors backed a new political fundraising group called Democracy Alliance which aims to support the goals of the U.S. Democratic Party but in reality it appears that his aim is to support his goals.



He has constantly pushed Left Wing causes and socialist views using a few well paid useful idiots like John Podesta to help get his message out. Now we are seeing the ultimate result of Soros's political spending, a President who is championing anti-capitalist and extreme left wing causes.



Soros' writings focus heavily on the concept of reflexivity, where the biases of individuals enter into market transactions, potentially changing the fundamentals of the economy. A current example of reflexivity in modern financial markets is that of the debt and equity of housing markets. Lenders began to make more money available to more people in the 1990s to buy houses. We now know that a lot of this was forced on the lenders by the likes of Barney Franks, Christopher Dodd and groups like ACORN suing banks for not lending enough money to the "disadvantaged". More people bought houses with this larger amount of money, thus increasing the prices of these houses. Lenders looked at their balance sheets which not only showed that they had made more loans, but that their equity backing the loans--the value of the houses, had gone up (because more money was chasing the same amount of housing, relatively). Thus they lent out more money because their balance sheets looked good, and prices went up more, and they lent more, etc. Prices increased rapidly, and lending standards were relaxed. The salient issue regarding reflexivity is that it explains why markets gyrate over time, and do not just stick to equilibrium--they tend to overshoot or undershoot. Hence the genesis of the entire financial crisis nurtured by the same people that he has helped to fund.



We also now know that he has benefited personally by betting against the US economy. “I'm having a very good crisis,” Soros says, quoted by the U.K. Daily Mail. As stocks fell in half, pension funds collapsed and millions of savers watched their 401(k)s founder, Soros made $1.1 billion last year. “It is, in a way, the culminating point of my life’s work,” Soros told The Australian.



As they say you have to spend big money to make bigger money even it it cause the country you live in to collapse. Heck with Soros's money you can probably buy your own country.

1 comment:

Baxter said...

I am amazed at your comments regarding a great American, Mr George Soros. He is not liberal - he is a proud capitalist and centrist.

Obviously, I don't care if he is Jewish or not. Hungarian Jews are some of the most brilliant folks to come along and have contributed a great deal to mankind.

I suspect your quotes regarding the Nazis are taken out of context. I haven't read his autobiography but I did read The Crisis of Global Capitalism.

I don't blame him for operating in the markets and maximizing his returns. That is his role. It is the old invisible hand that Adam Smith talked about. His role is clearly not the same as the governments. What are you, Mark, some sort of communist!?

When Soros made a fortune betting against the pound sterling in 1992, the Brits were furious. However, as capitalists we know that George didn't have a problem - the Bank of England did. His short positions (along with others) signaled that BOE had to get it's house in order.

I only wish I'd have made $1.1B in this crisis. God bless him for playing his role.