Why is George Soros using his wealth for Destruction?
George Soros born August 12, 1930, as Schwartz György) is a Hungarian-American business magnate, investor, philanthropist, and author who is of Jewish-Hungarian ancestry and holds dual citizenship (Hungary and the United States).
He is chairman of Soros Fund Management. He is known as “The Man Who Broke the Bank of England” because of his short sale of US $10 billion worth of pounds, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the 30 richest people in the world. Soros is a well known supporter of American progressive and American liberal political causes. Between 1979 and 2015 Soros donated more than $11 billion to various philanthropic causes. In 1954 Soros began his financial career at the merchant bank Singer & Friedlander of London. He worked as a clerk and later moved to the arbitrage department. A fellow employee, Robert Mayer, suggested he apply at his father’s brokerage house, F.M. Mayer of New York.
In 1956 Soros moved to New York City, where he worked as an arbitrage trader for F.M. Mayer (1956–59). He specialized in European stocks, which were becoming popular with U.S. institutional investors following the formation of the Coal and Steel Community, which later became the Common Market.
Insider trading conviction
In 1988 Soros was interested in purchasing shares in French companies. The Socialist party had lost its majority of seats in the Assembly in 1986, and the new government under Jacques Chirac had instituted an aggressive privatization program. Many people considered shares in the newly privatized companies undervalued. During this period, a French financier named Georges Pébereau contacted one of Soros’s advisers in an effort to assemble a group of investors to purchase a large number of shares in Société Générale, a leading French bank that was part of the program. The adviser reported to Soros that Pébereau’s plan was ambiguous and included an implausible takeover plan, which later failed. On that advice, and without ever having met the financier, Soros decided against participating.
Soros did, however, move forward with his strategy of accumulating shares in four French companies: Société Générale, as well as Suez, Paribas, and the Compagnie Générale d’Électricité. In 1989 the Commission des Opérations de Bourse (COB—the French stock exchange regulatory authority) conducted an investigation of whether Soros’s transaction in Société Générale should be considered insider trading. Soros had received no information from the Société Générale and had no insider knowledge of the business, but he did possess knowledge that a group of investors was planning a takeover attempt. The COB concluded that the statutes, regulations, and case law relating to insider tradingdid not clearly establish that a crime had occurred and that no charges should be brought against Soros. Several years later, a Paris-based prosecutor reopened the case against Soros and two other French businessmen, disregarding the COB’s findings. This resulted in Soros’s 2005 conviction for insider trading by the Court of Appeals (he was the only one of the three to receive a conviction). The French Supreme Court confirmed the conviction on June 14, 2006, but reduced the penalty to €940,000.
His insider-trading conviction was upheld by the highest court in France on June 14, 2006. In December 2006 he appealed to the European Court of Human Rights on various grounds including that the 14-year delay in bringing the case to trial precluded a fair hearing. On the basis of Article 7 of the European Convention on Human Rights, stating that no person may be punished for an act that was not a criminal offense at the time that it was committed, the court agreed to hear the appeal. In October 2011 the court rejected his appeal in a 4–3 decision, saying that Soros had been aware of the risk of breaking insider trading laws.
On November 11, 2003, in an interview with The Washington Post, Soros said that removing President George W. Bush from office was the “central focus of my life” and “a matter of life and death”. He said he would sacrifice his entire fortune to defeat Bush “if someone guaranteed it”. Soros gave $3 million to the Center for American Progress, $2.5 million to MoveOn.org, and $20 million to America Coming Together. These groups worked to support Democrats in the 2004 election. On September 28, 2004, he dedicated more money to the campaign and kicked off his own multistate tour with a speech:Why We Must Not Re-elect President Bush delivered at the National Press Club in Washington, D.C. The online transcript to this speech received many hits after Dick Cheney accidentally referred to FactCheck.org as “factcheck.com” in the vice presidential debate, causing the owner of that domain to redirect all traffic to Soros’s site.
On September 27, 2012, Soros announced that he was donating $1 million to the super PAC backing President Barack Obama’s reelection Priorities USA Action.
In October 2013, Soros donated $25,000 to Ready for Hillary, becoming a co-chairman of the super PAC’s national finance committee. In June 2015, he donated $1 million to the Super PAC Priorities USA Action, which supports Hillary Clinton in the 2016 presidential race. Since then he has donated an additional $6 million to the PAC to support Clinton.
Recently voted billionaire financier George Soros “the single most destructive leftist demagogue in the country.”
Top 10 Reasons George Soros Is Dangerous:
- Gives billions to left-wing causes: Soros started the Open Society Institute in 1993 as a way to spread his wealth to progressive causes. Using Open Society as a conduit, Soros has given more than $7 billion to a who’s who of left-wing groups. This partial list of recipients of Soros’ money says it all: ACORN, Apollo Alliance, National Council of La Raza, Tides Foundation, Huffington Post, Southern Poverty Law Center, Sojourners, People for the American Way, Planned Parenthood, and the National Organization for Women.
- Influence on U.S. elections: Soros once said that removing President George W. Bush from office in 2004 was the “central focus of my life.” He put his money where his mouth is, giving $23.58 million to various 527 groups dedicated to defeating Bush. His early financial support helped jump-start Barack Obama’s political career. Soros hosted a 2004 fund-raiser for Obama when he was running for the Illinois Senate and gave the maximum-allowed contribution within hours of Obama’s announcement that he was running for President.
- Wants to curtail American sovereignty: Soros would like nothing better than for America to become subservient to international bodies. He wants more power for groups such as the World Bank and International Monetary Fund, even while saying the U.S. role in the IMF should be “downsized.” In 1998, he wrote: “Insofar as there are collective interests that transcend state boundaries, the sovereignty of states must be subordinated to international law and international institutions.”
- Media Matters: Soros is a financial backer of Media Matters for America, a progressive media watchdog group that hyperventilates over any conservative view that makes it into the mainstream media. Now its founder, David Brock, has openly declared war on Fox News, telling Politico that the group was mounting “guerrilla warfare and sabotage” against the cable news channel, and would try to disrupt the commercial interests of owner Rupert Murdoch—an odd mission for a 501(c)(3) tax-exempt educational foundation that is barred from participating in partisan political activity.
- MoveOn.org: Soros has been a major funder of MoveOn.org, a progressive advocacy group and political action committee that raises millions for liberal candidates. This is the group that had on its website an ad comparing President George W. Bush to Adolf Hitler and ran the infamous “General Betray Us” ad in the New York Times, disparaging the integrity of Gen. David Petraeus.
- Center for American Progress: Headed by John Podesta, White House chief of staff under President Clinton, the Center for American Progress has been instrumental in providing progressive talking points and policy positions for the Obama administration. There has also been a revolving door between the White House and the Soros-funded think tank, with Obama staffing his administration with many CAP officials.
- Environmental extremism: Former Obama green jobs czar Van Jones and his leftist environmental ideas have been funded by Soros’ money at these groups: the Ella Baker Center, Green For All, the Center for American Progress, and the Apollo Alliance, which was instrumental in getting $110 billion in green initiatives included in Obama’s stimulus package. Soros also funds the Climate Policy Initiative to address global warming and gave Friends of the Earth money to “integrate a climate equity perspective in the presidential transition.”
- America Coming Together: Soros gave nearly $20 million to this 527 group with the express purpose of defeating President Bush. A massive get-out-the-vote effort, ACT’s door-to-door canvassing teams included numerous felons, its voter registration drives were riddled with fraud, and it handed out incendiary fliers and made misleading taped phone calls to voters. ACT was fined $775,000 by the Federal Election Commission for violations of various federal campaign finance laws.
- Currency manipulation: A large part of Soros’ multibillion-dollar fortune has come from manipulating currencies. During the 1997 Asian financial crisis, Malaysian Prime Minister Mahathir bin Mohamad accused him of bringing down the nation’s currency through his trading activities, and in Thailand he was called an “economic war criminal.” Known as “The Man who Broke the Bank of England,” Soros initiated a British financial crisis by dumping 10 billion sterling, forcing the devaluation of the currency and gaining a billion-dollar profit.
- Delusions: Soros has repeatedly said that he sees himself as a messianic figure. Who but a megalomaniac would make these comments? “I admit that I have always harbored an exaggerated view of my self-importance—to put it bluntly, I fancied myself as some kind of god” or “I carried some rather potent messianic fantasies with me from childhood, which I felt I had to control, otherwise I might end up in the loony bin.” If only the loony bin were an option. As it is, one of the wealthiest men in the world is using his billions to impose a radical agenda on America.