Icon of the Left: George Soros

[L.K.Eder]

Actually, I'm not. Everything I say about Soros is based on my own study of the man. Unlike those who use the media to get their information, I tend to avoid the media reports about him. I've studied him for a long time. I have no idea what the 'talking heads' say about Soros - left or right - because I have no interest in their opinions. I have informed myself and I do not like what I have found.

The French got him bang to rights. Most Governments are afraid of him. But not the French.

Now, pig ignorant assholes can bitch and whine about me as an individual rather than having an honest discussion about the topic.... I don't care. You, I respect. But you need to look further into George. He is a dangerous man.... amoral and with a global agenda that does not suit this nation.

I'm a trader and an investor. I've done a lot of study of economic and financial market history. I'm a boring man. It's all I do. It's my formal education, and it is what I've done for the past 20 years of my career. I left living in England in 1991 just before it happened. Margaret Thatcher is my hero. I lived in Finchley. (Sadly, I was there when she drove away from Parliament after resigning. )

I've studied this. I followed it closely when it happened. And the interpretation you have given, at least regarding the Bank of England and the British economy, is incorrect.

You aren't the least bit boring.

you totally fell for his compliment fishing.

you da man, toro.

 

[Ravi]

There's that old hyperbolic bullshit again. Not once did I say anything about 'admiring' him. That is a lie. Ravi, I expect better of you. Disagree with me all you want but don't lie about what I say.

It's no wonder some people struggle with facts.... y'all seem to think it's not lying to make shit up about other people. But it is.

Not lying, dear. Just pointing out facts.

The lie is in your OP.

It is untrue that I ever admired him. That is a fact.

Thus, you lied.

I am the foremost expert on knowing who I admire and who I don't. And, if I admired him, one would think I would actually recall his name.

Shall I lie about you, now?

For someone that didn't admire him, you sure were his butt buddy.

 

[Dr Grump]

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

Toro already told you that you are wrong and why...

That aside, why do you think there is an OWS movement. Wall st is full of people who do what you are alleging - and they ain't Dem voters....

 

[L.K.Eder]

Not lying, dear. Just pointing out facts.

The lie is in your OP.

It is untrue that I ever admired him. That is a fact.

Thus, you lied.

I am the foremost expert on knowing who I admire and who I don't. And, if I admired him, one would think I would actually recall his name.

Shall I lie about you, now?

For someone that didn't admire him, you sure were his butt buddy.

wasn't rich iott the icon of california girl and si modo?

yes, i think he was.

 

[California Girl]

CG, I like you, but I think you have fallen for the exact same thing with Soros. You are allowing the prejudices and biases of those who despise Soros's politics to colour your interpretation of events in which Soros was involved.

Actually, I'm not. Everything I say about Soros is based on my own study of the man. Unlike those who use the media to get their information, I tend to avoid the media reports about him. I've studied him for a long time. I have no idea what the 'talking heads' say about Soros - left or right - because I have no interest in their opinions. I have informed myself and I do not like what I have found.

The French got him bang to rights. Most Governments are afraid of him. But not the French.

Now, pig ignorant assholes can bitch and whine about me as an individual rather than having an honest discussion about the topic.... I don't care. You, I respect. But you need to look further into George. He is a dangerous man.... amoral and with a global agenda that does not suit this nation.

I'm a trader and an investor. I've done a lot of study of economic and financial market history. I'm a boring man. It's all I do. It's my formal education, and it is what I've done for the past 20 years of my career. I left living in England in 1991 just before it happened. Margaret Thatcher is my hero. I lived in Finchley. (Sadly, I was there when she drove away from Parliament after resigning. )

I've studied this. I followed it closely when it happened. And the interpretation you have given, at least regarding the Bank of England and the British economy, is incorrect.

My 'interpretation' of what happened to ordinary British people is not incorrect. It is accurate. They lost their life savings because of what happened. They lost their homes, their pensions, everything. The economy bounced back... but those people's lives were ruined. They are real people, they're aren't statistics or an economy. You should know that.

 

[L.K.Eder]

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

Toro already told you that you are wrong and why...

That aside, why do you think there is an OWS movement. Wall st is full of people who do what you are alleging - and they ain't Dem voters....

i repeat:

rajat gupta

 

[Ravi]

This is factually incorrect. He did not break the British economy. He did not cause people to lose their jobs. He did not cause pensions to be wiped out. Nobody lost their life savings because of Soros. In fact, it is quite the opposite. George Soros probably did more to create employment and economic growth in the UK during the early and mid-90s than any other single individual.

Conservatives have demonized George Soros so much and have developed such deep pathological biases against the man, they essentially argue for government intervention and that government knows better than the market. Conservatives shouldn't condemn Soros for breaking the Bank of England. Conservatives should applaud Soros. At least those conservatives who believe in free markets. Because if you believe in free markets, Soros unshackled the currency markets which allowed the pound to fall to its true market level.

A quick Google search would have shown that in fact, the British economy accelerated after Soros broke the Bank of England. You can see the graph here.

World Bank, World Development Indicators - Google Public Data Explorer

The pound was forced out of the ERM - the forerunner of the euro - by Soros in September 1992. GDP growth was as follows;

1991 -1.4%
1992 +0.1%
1993 +2.2%
1994 +4.3%

The pound was pegged within a band against the mark in what was known as the European Exchange Rate Mechanism (ERM). The peg was set through monetary policy via the Bank of England, i.e. the government's bank set the interest rate. If the government wanted a strong pound, it raised the interest rates. If it wanted a weak pound, it lowered interest rates. The pound was supposed to trade with a band of DM2.80-DM3.20. The currency market did not trade freely. In fact, it was very much the opposite. The free market was not allowed to work as the British government kept the pound artificially strong to keep it within the ERM.

To combat inflation in the late 1980s and early 1990s - which got as high as 11% - the Bank of England jacked up interest rates to nearly 15%. This caused the British economy to grind to a halt as economic growth turned negative in 1991. The monetary policy worked as inflation fell to 3.5% by the summer of 1992. Here are the data sets for interest rates and inflation.

http://www.ons.gov.uk/ons/rel/cpi/c...011/cpi-and-rpi-detailed-reference-tables.xls
http://www.google.com/url?sa=t&rct=...sg=AFQjCNEROveCPdE410lbKccZSrg9pioyKA&cad=rja

However, interest rates were nearly 10% in the summer of 1992, meaning real rates of interest were 6.5%, which is extraordinarily tight. (In a normal environment, real interest rates are 2%-3%.) This was strangling the British economy. Interest rates should have been much lower. Soros knew it. If the Bank of England had lowered the Bank Rate - as it should have, given the economic fundamentals - then the pound would have declined below its lower band in the ERM. But the British government wanted to stay within the ERM. They wanted to save face. The pound was artificially high and kept high because the UK was in the ERM.

If you believe in the efficacy of markets, you knew this was simply untenable, no different than Greece's predicament in the eurozone today. So Soros - as he should have - bet heavily against the pound.

And the markets believed him. If you believe in markets, and if Soros had been wrong, the pound would have quickly risen after it fell out of the ERM. But that's not what happened, as you can see here.

Also, if Soros had been wrong, the British government could have maintained their high interest rates. But they did not. Instead, they slashed interest rates, knowing that the battle to keep the pound in the ERM was lost. No longer needing to keep interest rates high to defend the value of the pound, the Bank Rate was slashed from 9.875% in the summer of 1992 to 6.875% in November and eventually to 5.125% in 1994.

And what happened? Well, as conventional monetary theory would expect, the economy recovered. Monetary policy works with a lag of 12-24 months. Unemployment, which was 9.9% in September 1992, after having risen from 6.9% two years earlier, peaked a year later and was below 10% at the start of 1994, beginning a long, downward trek in unemployment for years thereafter.

You can see employment by downloading this table, which is table A02

http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/october-2011/table-a02.xls
Release Edition Reference Tables

The same came be said of the Asian Contagion in 1997. Politicians love to demonize outsiders for their woes, and the leaders of various SE Asian countries did just that as their economies collapsed in 1997 and 1998. Soros, who was very public in his attack on the British pound, denied any involvement in shorting the Asian currencies. In fact, at the time, he said he was slightly long Asian currencies. I don't know if that's true or not, but the simple fact is that like Britain five years earlier, the Asian economies had pegged their currencies, only this time to the dollar, which created enormous imbalances in the economies. It was only a matter of time - if you believe in free markets - before the system collapsed. And it did.

Thanks....I read that elsewhere. The pound rebounded stronger than ever. But wingnut fantasies die hard.

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

I didn't post it because your strawmen are uninteresting.

 

[Si modo]

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

Toro already told you that you are wrong and why...

That aside, why do you think there is an OWS movement. Wall st is full of people who do what you are alleging - and they ain't Dem voters....

From what I can gather, the OWS hate money having influence on governments and policy.

Soros is not hated by them.

Yet, that is exactly what Soros does.

Odd. Hypocrisy usually is to me.

 

[BDBoop]

Pure-Comedy-GOLD!!

Pure-Drunk Blathering.

Sad bastard.

Do you still have teeth? I hear crack is bad for that.

And Crack is whack..girl.

Using the word "girl" loosely, I see.

 

[Ravi]

Actually, I'm not. Everything I say about Soros is based on my own study of the man. Unlike those who use the media to get their information, I tend to avoid the media reports about him. I've studied him for a long time. I have no idea what the 'talking heads' say about Soros - left or right - because I have no interest in their opinions. I have informed myself and I do not like what I have found.

The French got him bang to rights. Most Governments are afraid of him. But not the French.

Now, pig ignorant assholes can bitch and whine about me as an individual rather than having an honest discussion about the topic.... I don't care. You, I respect. But you need to look further into George. He is a dangerous man.... amoral and with a global agenda that does not suit this nation.

lol! You've studied him for a long time. Who are you, Goebbels?

Why do you hate Jews that survived the Holocaust?

I expect that kind of pathetic bullshit from lowlifes like shallow. Not from you. It's beneath you to say such things, Ravi. We should be able to discuss - or even mock each other - without lowering ourselves to mocking the victims of the Holocaust for point scoring. Shame on you.

Please.

You have yet to admit that Soros did no wrong as a Jewish teen under the Nazi boot.

 

[California Girl]

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

Toro already told you that you are wrong and why...

That aside, why do you think there is an OWS movement. Wall st is full of people who do what you are alleging - and they ain't Dem voters....

I was not wrong. He's talking about their economy, and their currency. Both recovered. I am talking about the people. Ordinary people - just like you... or me... or any other poster here.... their lives were ruined. But they apparently don't matter... but that does not surprise me. Apparently, to you, nor do the victims of the Holocaust.

I repeat. Shame on you.

 

[L.K.Eder]

The pound recovered. Those individuals who lost their life savings and their pensions... not so much. But trust you to completely miss that point.

But that part about you having read that... that made me laugh. Yea, course you did. You just didn't post it.

Facts remain.... I didn't talk about the pound.... that was never the issue. The issue was... and remains.... he damaged the lives of ordinary people all over the world... and he did it to make money.

Icon of the left. Amoral bastard.

Toro already told you that you are wrong and why...

That aside, why do you think there is an OWS movement. Wall st is full of people who do what you are alleging - and they ain't Dem voters....

I was not wrong. He's talking about their economy, and their currency. Both recovered. I am talking about the people. Ordinary people - just like you... or me... or any other poster here.... their lives were ruined. But they apparently don't matter... but that does not surprise me. Apparently, to you, nor do the victims of the Holocaust.

I repeat. Shame on you.

i repeat

 

[elvis]

Didn't Soros kill Kennedy? Where was he on september 11th? Does he rig elections? Where's eots when you need him, dammit.

 

[California Girl]

lol! You've studied him for a long time. Who are you, Goebbels?

Why do you hate Jews that survived the Holocaust?

I expect that kind of pathetic bullshit from lowlifes like shallow. Not from you. It's beneath you to say such things, Ravi. We should be able to discuss - or even mock each other - without lowering ourselves to mocking the victims of the Holocaust for point scoring. Shame on you.

Please.

You have yet to admit that Soros did no wrong as a Jewish teen under the Nazi boot.

I don't remember being asked for my opinion of that period of his life. In point of fact, I wouldn't have an issue with what he did. I do have an issue with what he has said about that period since... in that he feels no guilt. I think, if it had been me, I would feel some guilt about it. But that is me. And he is an amoral bastard so I am not surprised that he feels no guilt.

But... I have never mocked those victims for political point scoring. Shame that you cannot say likewise.

 

[Ropey]

Didn't Soros kill Kennedy? Where was he on september 11th? Does he rig elections? Where's eots when you need him, dammit.

Conspiracy Theories - US Message Board - Political Discussion Forum

 

[Sallow]

So, how did this multi-billionaire and self proclaimed philanthropist make his money? Wall Street. ( ) Yep, he was one of those evil hedge funders, and currency speculators. As a currency speculator, back in 1992, he became known in England as the 'man who broke the Bank of England'. So what? Big deal, right? He shorted the British pound by leveraging billions of pounds of financial bets. But.... he didn't just 'break' the Bank of England. He broke the British economy, and with it, the livelihoods of hundreds of thousands of ordinary hard working Britons, who lost their homes, their jobs, their pensions and their life savings. Why? Because he could. Because making money was more important than ordinary, hard working people - albeit they were not Americans.

This is factually incorrect. He did not break the British economy. He did not cause people to lose their jobs. He did not cause pensions to be wiped out. Nobody lost their life savings because of Soros. In fact, it is quite the opposite. George Soros probably did more to create employment and economic growth in the UK during the early and mid-90s than any other single individual.

Conservatives have demonized George Soros so much and have developed such deep pathological biases against the man, they essentially argue for government intervention and that government knows better than the market. Conservatives shouldn't condemn Soros for breaking the Bank of England. Conservatives should applaud Soros. At least those conservatives who believe in free markets. Because if you believe in free markets, Soros unshackled the currency markets which allowed the pound to fall to its true market level.

A quick Google search would have shown that in fact, the British economy accelerated after Soros broke the Bank of England. You can see the graph here.

World Bank, World Development Indicators - Google Public Data Explorer

The pound was forced out of the ERM - the forerunner of the euro - by Soros in September 1992. GDP growth was as follows;

1991 -1.4%
1992 +0.1%
1993 +2.2%
1994 +4.3%

The pound was pegged within a band against the mark in what was known as the European Exchange Rate Mechanism (ERM). The peg was set through monetary policy via the Bank of England, i.e. the government's bank set the interest rate. If the government wanted a strong pound, it raised the interest rates. If it wanted a weak pound, it lowered interest rates. The pound was supposed to trade with a band of DM2.80-DM3.20. The currency market did not trade freely. In fact, it was very much the opposite. The free market was not allowed to work as the British government kept the pound artificially strong to keep it within the ERM.

To combat inflation in the late 1980s and early 1990s - which got as high as 11% - the Bank of England jacked up interest rates to nearly 15%. This caused the British economy to grind to a halt as economic growth turned negative in 1991. The monetary policy worked as inflation fell to 3.5% by the summer of 1992. Here are the data sets for interest rates and inflation.

http://www.ons.gov.uk/ons/rel/cpi/c...011/cpi-and-rpi-detailed-reference-tables.xls
http://www.google.com/url?sa=t&rct=...sg=AFQjCNEROveCPdE410lbKccZSrg9pioyKA&cad=rja

However, interest rates were nearly 10% in the summer of 1992, meaning real rates of interest were 6.5%, which is extraordinarily tight. (In a normal environment, real interest rates are 2%-3%.) This was strangling the British economy. Interest rates should have been much lower. Soros knew it. If the Bank of England had lowered the Bank Rate - as it should have, given the economic fundamentals - then the pound would have declined below its lower band in the ERM. But the British government wanted to stay within the ERM. They wanted to save face. The pound was artificially high and kept high because the UK was in the ERM.

If you believe in the efficacy of markets, you knew this was simply untenable, no different than Greece's predicament in the eurozone today. So Soros - as he should have - bet heavily against the pound.

And the markets believed him. If you believe in markets, and if Soros had been wrong, the pound would have quickly risen after it fell out of the ERM. But that's not what happened, as you can see here.

Also, if Soros had been wrong, the British government could have maintained their high interest rates. But they did not. Instead, they slashed interest rates, knowing that the battle to keep the pound in the ERM was lost. No longer needing to keep interest rates high to defend the value of the pound, the Bank Rate was slashed from 9.875% in the summer of 1992 to 6.875% in November and eventually to 5.125% in 1994.

And what happened? Well, as conventional monetary theory would expect, the economy recovered. Monetary policy works with a lag of 12-24 months. Unemployment, which was 9.9% in September 1992, after having risen from 6.9% two years earlier, peaked a year later and was below 10% at the start of 1994, beginning a long, downward trek in unemployment for years thereafter.

You can see employment by downloading this table, which is table A02

http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/october-2011/table-a02.xls
Release Edition Reference Tables

The same came be said of the Asian Contagion in 1997. Politicians love to demonize outsiders for their woes, and the leaders of various SE Asian countries did just that as their economies collapsed in 1997 and 1998. Soros, who was very public in his attack on the British pound, denied any involvement in shorting the Asian currencies. In fact, at the time, he said he was slightly long Asian currencies. I don't know if that's true or not, but the simple fact is that like Britain five years earlier, the Asian economies had pegged their currencies, only this time to the dollar, which created enormous imbalances in the economies. It was only a matter of time - if you believe in free markets - before the system collapsed. And it did.

Thanks....I read that elsewhere. The pound rebounded stronger than ever. But wingnut fantasies die hard.

It's always extremely interesting to me that Soros gets brought up by "patriotic" "Americans" when he "crashed" the bank of England many years ago, yet not one seem mad about the captains of industry in this country which crashed our financial infrastructure.

So patriotic I tell you what.

 

[Sallow]

Didn't Soros kill Kennedy? Where was he on september 11th? Does he rig elections? Where's eots when you need him, dammit.

He kidnapped the Lindberg baby. True story.

 

[PixieStix]

Who gives a shit about his past/present Nazi participation? I sure as shit don't.
It's much more relevelent to discuss Soro's manipulation of currencies, involvement in Media Matters and a grocery list of organizations who are pretty radical all within BHO‘s fundamental transformation dream. This guy is just like the Dresler character from the movie “The Sum of All Fears”.

Exactly

George Soros is one of the most powerful men on earth. A New York hedge fund manager, he has amassed a personal fortune estimated at about $7.2 billion. His management company controls billions more in investor assets. Since 1979, his foundation network -- whose flagship is the Open Society Institute (OSI) -- has dispensed an estimated $5 billion to a multitude of organizations whose objectives are consistent with those of Soros. (The President of OSI and the Soros Foundation Network is Aryeh Neier, former Director of the socialist League for Industrial Democracy.) With assets of $859 million as of 2005, OSI alone donates scores of millions of dollars annually to these various groups, whose major agendas can be summarized as follows:

Promoting the view that America is institutionally an oppressive nation
Promoting the election of leftist political candidates throughout the United States
Opposing virtually all post-9/11 national security measures enacted by U.S. government, particularly the Patriot Act

Depicting American military actions as unjust, unwarranted, and immoral
Promoting open borders, mass immigration, and a watering down of current immigration laws
Promoting a dramatic expansion of social welfare programs funded by ever-escalating taxes
Promoting social welfare benefits and amnesty for illegal aliens
Defending suspected anti-American terrorists and their abetters
Financing the recruitment and training of future activist leaders of the political Left
Advocating America’s unilateral disarmament and/or a steep reduction in its military spending
Opposing the death penalty in all circumstances
Promoting socialized medicine in the United States
Promoting the tenets of radical environmentalism, whose ultimate goal, as writer Michael Berliner has explained, is “not clean air and clean water, [but] rather ... the demolition of technological/industrial civilization”
Bringing American foreign policy under the control of the United Nations
Promoting racial and ethnic preferences in academia and the business world alike

To view a list of many of the more important organizations that support these agendas and have received direct funding from Soros and his Open Society Institute in recent years

Discover the Networks

There are also numerous “secondary” or “indirect” affiliates of the Soros network. These include organizations which do not receive direct funding from Soros and OSI, but which are funded by one or more organizations that do. These secondary affiliates also include organizations that work collaboratively or synergistically with Soros-funded groups. To view a list of some of these organizations, click here. (Comprehensive profiles of each are available in the "Groups" category of DiscoverTheNetworks.org.)

http://www.discoverthenetworks.org/v...ory.asp?id=589

Discover the Networks

 

[PixieStix]

Soros is the man who pulls the strings for the left. And no amount of denial will change that.

 

[Sallow]

Soros is the man who pulls the strings for the left. And no amount of denial will change that.

And all of Soros' wealth and power pales in comparison to those that fleeced the wealth of normal Americans and write legislation that allow them to keep doing it.

To the applauds and cheers of the very people who cheer executions, boo gay soldiers and want people without insurance to die..and die quickly.

Good job boys.