George Soros
George Soros
George Sorosis a Hungarian-American business magnate, investor, philanthropist, political activist and author who is of Hungarian-Jewish ancestry and holds dual citizenship. 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...
NationalityHungarian
ProfessionEntrepreneur
Date of Birth12 August 1930
CityBudapest, Hungary
He is actually doing the right thing for himself because he is preserving himself in power, and he puts himself in a position where he can bail out his cronies who are in financial difficulties, including his son and so on,
I hardly knew the man's name, ... He really invented me. He needed me for his political purposes, so I'm a figment of his imagination.
I give away something up to $500 million a year throughout the world promoting Open Society. My foundations support people in the country who care about an open society. It's their work that I'm supporting. So it's not me doing it.
but recently we have seen financial markets sometimes move more like a wrecking ball, knocking over one economy after another.
As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.
Up to those amounts the countries concerned would be able to access international capital markets at prime rates. Beyond these, the creditors would have to beware.
This reorganization took place in the full glare of publicity and involved the departure of a large number of employees. Inevitably this gave rise to rumors ... but in fact everything went according to plan,
So I think what needs to happen is he needs to be removed from power,
Something really is broken in the international financial architecture, ... We're now in the 20th month of financial crisis. Yet this crisis was brewing, it was the most anticipated crisis in recent history.
Now, I have not worked out the details, because I don't think it's for me to work out the details. It's for them to work out the details.
This asymmetry in the treatment of lenders and borrowers is a major source of instability in the global capitalist system and it needs to be corrected,
I see tremendous imbalance in the world. A very uneven playing field, which has gotten tilted very badly. I consider it unstable. At the same time, I don't exactly see what is going to reverse it.
Throughout the 19th century, when there was a laissez-faire mentality and insufficient regulation, you had one crisis after another. Each crisis brought about some reform. That is how central banking developed.
Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.