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Tuesday, September 28, 2010

George Soros: Zombie Banks Are Drawing The Lifeblood Of Economic Activity

George Soros, legendary currency trader and chairman of Soros Fund Management, talks about the U.S. financial crisis and actions taken by the global governing authorities in response to the crisis. He also shares his perspectives on the dire state of "zombie banks" and on the unsustainability of the current bear market rally.

"We did not succeed in recapitalizing the banks, to the point where they can lend freely to business[es]. They still have to earn their way out of the hole. And that is going to last a long time," says Soros, referring to the root cause of the current crisis which U.S. policymakers have failed to fix. When asked to clarify if he is saying that the steps taken by policymakers so far have not been the right ones to fix the banking system, Soros responds, "That's right. It (The banking crisis) will linger, because we're keeping the banks alive. This talk of 'zombie banks'. Unfortunately, that is where we are now. The banks are alive, but they know that they've got assets which are depreciating and they have to charge extra. So actually, instead of providing lifeblood of credit, they're effectively drawing the lifeblood of [economic] activity, of profit, to themselves, to dig themselves out of the hole and that is the current situation."

Monday, September 27, 2010

George Soros: Dollar Strength Is A Measure Of System Sickness

George Soros, legendary currency trader and chairman of Soros Fund Management, shares his perspective on the status of the dollar as the world's reserve currency and on the causes for the recent strength in the dollar. Interestingly, when asked about his speculative trading positions on the dollar, the Euro and the British pound, Soros becomes rather evasive in his responses.

Soros on mismanagement of the dollar:
"The way things worked, we (the U.S. government) imposed discipline on everybody else, except ourselves, because we could print our money, and we abused that. We actually consumed, in the end, 6.5% more than we were producing, and that's now being reversed and I don't think you can ever go back there ever again."

Soros on why Germany does not want to bail out other E.U. members:
"First of all, their historic memory was seared by HYPER-INFLATION, the way ours was by [the Great] Depression. So they have a different attitude. Secondly, they are actually stimulating their own economy, and they say that countries that are fiscally imbalanced, are not in a position to stimulate, and that is correct."

Thursday, September 23, 2010

George Soros Predicts Stagflation

George Soros, legendary currency trader and chairman of Soros Fund Management, warns about the return of stagflation in the near future when the Federal Reserve is forced to raise interest rates prematurely.

"The moment this fear of deflation turns into a fear of inflation, you'll find interest rates rise in the long end which is going to choke off the recovery," Soros says. "If we are successful [in preventing the total collapse of the economy], we are heading from the prospect of deflation to stagflation."

Wednesday, September 22, 2010

Restoring the Integrity of US Financial Markets - Hamptons Institute 2010

Hamptons Institute 2010
Panel Members
Joe Nocera, Michael Greenberger, George Soros, Elizabeth Warren

George Soros message to France regarding the Roma expulsions (in french)

Decryptage des mécanismes pervers du néo libéralisme.

Les riches prechent la diversité mais ne la vive pas
Les riches sont mondialistes mais agissent contre les etats nations et les peuples souverain et se donne bonne conscience avec leur fondation pour aider non pas leur concitoyens mais les miséres lointaines.
Les fondations ne payent pas d'impot et en plus ne se privent pas d'agir contre les etats nations et les peuples souverain Ils choissisent eux meme de faire la redistribution en fonction de leur choix et non plus l'etat en faveur de leur citoyen. La majorité de l'argent des fondations sont depensé a l'etranger et non pas pour leur concitoyen.

Saturday, September 18, 2010

George Soros threatens to sue Sun Media after Nazi comment

Remember last week’s dust-up between Antonia Zerbisias and Ezra Levant? It was one of Levant’s columns, published in the Toronto Sun, that accused billionaire Avaaz funder George Soros of some pretty nasty stuff relating to Soros’s time living under Nazi occupation in Hungary. The ensuing argument got sour very quickly, as Twitter fights are wont to do, but the upshot of it all is that when Zerbisias counselled Levant about making libellous statements, she was being eerily prescient. Soros is now threatening to sue the pants off Sun Media.

read article >>>.

Friday, September 17, 2010

George Soros: Japan is right to intervene

Sept 15 - In an exclusive interview with Chrystia Freeland, billionaire financier George Soros says that Japan was right to move in foreign exchange markets to bring down the value of the yen.

Thursday, September 16, 2010

George Soros betting big on Indian market


George Soros : "It is not only China, India is doing very well and in fact, the great hope is that the developing world develops faster and that is the positive side of the current situation that the Chinese public is willing to accept limitations on individual freedom for the benefit of prosperity. But I do not see the rest of the world accepting limitations on each individual freedom for the benefit of Chinese prosperity. The Indian situation is more stable because it is based on domestic growth whereas China has yet to get domestic growth going. So right now, India is in a very strong position. There is some threat of inflation which remains on the horizon.

If I had to sum it up in one word, I would say blah. In other words, it may slip into the double dip or it may not, but it is going to slow down. There is no question in my mind because the stimulus is running out and there is now great resistance for any further stimulus because the preoccupation is with fiscal rectitude and it is a little bit too early for that because the economy has not yet really got dynamic scoring and it would not for a long time because there are grave imbalances that have built up over 25 years of super bubble and it will take time to work it off. "

George Soros: Gold not safe

George Soros Interview with Reuters 15 Sept 2010

Sept. 15 George Soros In an exclusive interview with Chrystia Freeland, : this is a period of great uncertainty so nothing is very safe .....Gold is the only actual bull market currently because it made new high yesterday ...at the present circumstances that may continue but it will very interesting to see whether there will be a decline in the next few weeks because technically everything that makes a news high always almost immediately reverses and disappoints the books ...It will be interesting to see ...I call the gold the Ultimate bubble ...which means it may be going higher but it certainly not safe ...and it is not going to last for ever

Wednesday, September 15, 2010

Billionaire George Soros Donates $100 Million

Billionaire George Soros will make a $100 million dollar challenge grant to Human Rights Watch, which is the largest he's ever made to a non-governmental organization. Soros' organization, Open Society Foundations, will distribute the grant over the course of 10 years. The grant challenges the organization to raise an additional $100 million through private donors. Human Rights Watch works to protect and promote human rights around the world. A statement from Soros in the press release read: "Human rights underpin our greatest aspirations: they're at the heart of open societies."

Monday, September 13, 2010

Soros Giving $100 Million to Human Rights Watch

Soros Giving $100 Million to Human Rights Watch

Billionaire philanthropist George Soros will give Human Rights Watch $100 million to expand its work throughout the world.

The gift, announced Tuesday, is the largest ever by Soros and the largest received by Human Rights Watch, The New York Times reported.

Soros, 80, told the Times that the gift is the first of a series of large gifts that he plans to make.

Soros this year has donated some $700 million to several causes. He earned $3.3 billion from his hedge fund in 2009, the Times reported.

The gift is a challenge grant requesting that Human Rights Watch raise $10 million over the next decade from new, international sources. The organization will get the money even if it is not successful.

Human Rights Watch, which monitors human rights abuses worldwide, said it will add about 120 staff members to its current 300 posted in capitals around the world, open new offices and expand the translation of its approximately 100 reports a year, the Times reported.

Based in New York, the organization was founded in 1978. It is funded solely by private donations.

via www.jewishtimes.com

Friday, September 10, 2010

George Soros Fund Buy Stakes in Gas Producer Far East Energy

BlackRock Inc., the world’s biggest money manager, and a fund related to billionaire George Soros have acquired stakes in Far East Energy Corp., a Houston company that’s raising cash to develop natural-gas properties in China.
read article >

Tuesday, September 7, 2010

George Soros vs The Tea Party

George Soros and NAACP Look to Take Down Tea Party

Tea Party HD Founder George Loiacono defends the integrity of the political organization.

George Soros to Donate $100 Million to Rights Group

George Soros, the billionaire investor and philanthropist, plans to announce on Tuesday that he is giving $100 million to Human Rights Watch to expand the organization’s work globally, Stephanie Strom reports in The New York Times.

It is the largest gift he has made, the largest gift by far that Human Rights Watch has ever received, and only the second gift of $100 million or more made by an individual this year, according to the Center on Philanthropy at Indiana University.

“We’re seeing noticeably fewer charitable gifts at the $100 million level from individuals reported than we did just a few years ago,” said Patrick Rooney, the center’s executive director. “Between 2006 and 2008, an average of about 13 gifts a year of that size by individuals was reported. In 2009, it dropped to six, and this year, we know of only one other.”

Go to Article from The New York Times »

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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.