Tuesday, September 28, 2010
"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, 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
"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
Joe Nocera, Michael Greenberger, George Soros, Elizabeth Warren
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
read article >>>.
Friday, September 17, 2010
Thursday, September 16, 2010
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. "
Wednesday, September 15, 2010
Monday, September 13, 2010
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.
Friday, September 10, 2010
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Tuesday, September 7, 2010
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 »
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.
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