George Soros — Foundations of Villainy
The last article released on this site (The Hysterical, Sold-out Radical Left) examined extremist, NGO ‘activist’ organisations whose members take part violent action, and use all sorts of dirty-tricks, against perceived political opposition. One of the avenues explored was how these organisations are funded, and by whom. One of the characters enabling these organisations to fund their ill-deeds is billionaire investment banker George Soros.
Who is George Soros?
George was born in Hungary in 1930, and although little is known about his early life, what is known is rather worrying when one considers the influence he wields in the modern age. He got off to an early start during the time of WWII, when Hungary was a member of the Axis of Evil and run by fascists aligned with Adolf Hitler. Soros was employed by Hungarian Fascists, and admittedly assisted them in seizing the property of fellow Jews(1). In an interview with 60 Minutes, he recounts this himself, smiles uncontrollably when responding to the point posed that it must have been traumatising, with a definitive: “No. Not at all.” To Soros, being involved in such reprehensible doings was “No problem at all.”
Here we have window into the psyche of the man, who, from there, went on to study at the prestigious London School of Economics(2). He graduated in 1952, and was hired by a London brokerage firm, Singer and Friedlander(3), and in 1956 moved to The United States of America. During the 1970’s he set up The Soros Fund, later renamed The Quantum Fund, and by 1981, its value had grown to over 380 Million(4). In 1992, he made more than one-billion pounds over the course of a day by shorting the British Pound Sterling, effectively ‘breaking The Bank of England’ as a part of a carefully planned economic campaign causing a monumental economic crash(5). This was the aim, it was successfully executed, and is evidenced by the statement made to the manager of The Quantum Fund at the time, Stanley Druckenmiller, when he instructed Druckenmiller to “go for the jugular.”(6) He made one-billion pounds, and at the same time cost the BOE and the British taxpayer six-billion.
As Soros’ fortune piled up, he could begin to ‘indulge his social concerns’(7). Following the raking in of massive profits after breaking the Bank of England in 1992, Soros founded his now infamous Open Societies Institute in 1993(8), and began to use his wealth to meddle in politics. He began to develop closer and closer ties to politicians around the world, the foremost of whom were Bill and Hillary Clinton. “I do now have great access in [the Clinton] administration,” George gloated in an interview in 1995. “There is no question about this. We actually work together as a team.”(9)
Soros became heavily invested in US healthcare reform in the early 1990s, first sponsoring the campaign for a healthcare bill many referred to as ‘Hillarycare’, a healthcare reform proposal championed by Hillary Clinton in 1993 during the presidency of Bill Clinton; which entailed cuts in spending by legislating into effect that terminal patients would be given palliative care, rather than the sort of care to extend their lives as much as possible, as they were considered a drain on the economy. This, as well as The Death In America project (which eventually cost Soros’ OSI and The Robert Wood Johnson Foundation 200 million dollars over a ten year period) — which was a revamped version of Hillarycare, but was focused solely on death, the dying, and palliative care — had a lot in common. Not least of which was the creepy eugenics vibe(10). (After seeing how quickly my own father went from being up and about, mobile and very much alive, to being stone-cold dead after being put under ‘palliative care’, I have my own reservations regarding palliative care, and suspect the term is used as a euphemism for euthanasia.)
“Aggressive, life-prolonging interventions, which may at times go against the patient’s wishes, are much more expensive than proper care for the dying.” –George Soros(11)
Both proposed campaigns were eventually shot-down. Grassroots supporters got together to raise funds for television advertising to inform the public of the bad deal they would be getting with the proposed Hillarycare plan(12). The bill was a monumental flop, even though experts were paid to form ‘nonpartisan’ activist groups in support of the proposed piece of legislation during the time it was being pushed, in 1993/94(13). Soros failed on these fronts, but he had learned a lot in doing so. The discourse would have to be primed before the issue was pushed; as debate and information campaigns limited to immediately preceding votes thereon were too easily defeated. In response to this, Soros would later began to work toward creating ‘campaign finance reform’, so that groups like those who interfered with the success of Hillarycare to such great effect would no longer be much of a problem.
Before the attempts at campaign finance reform were to be fully developed and realised, there were more opportunities for market manipulation afoot. This time in Asia. And, similarly to how Soros’ Quantum Fund ‘broke The Bank of England’, it was through speculation, and shorting (essentially betting-against) the Thai Baht, that The Quantum Fund, along with Julian Robertson’s Tiger Fund, played a huge part in the 1997 Asian financial crash.
The Baht had been pegged to the US dollar for a decade leading up to crash, and the Thai government had encouraged banks and corporations to borrow in US dollars to fuel domestic lending for a large stretch during this period of time. This was beneficial due to the difference in interest rates. But, when the US dollar gained in strength and worth during the mid-90s, Thailand’s trade and capital accounts took a serious hit, firms found it next to impossible to meet their dollar debt obligations, and it became apparent the situation was unsustainable.
Thai investors disentangled from the US dollar on July 2, 1997. By October 24 the Baht had lost approximately 60% of its value versus the dollar. Thailand’s monetary problems lead to speculation against other Asian currencies, and, as it declined in value, this lead to the depreciation Malaysian ringgit by 35%, the Indonesian Rupiah by 47%, and the Philippine Peso by 34%(14).
In 1998, immediately after profiting hugely from the Asian financial crisis which he had helped precipitate, Soros set his sights on Hong Kong. The aim was to manipulate the market by dumping the Hong Kong dollar while taking short positions on the stock and futures markets of Hong Kong. This would cause severe drops in the value of the currency, and lead to a cascade of panic selling and a bearish response from investors. Hedge funds profit in declining markets by shorting stocks, and then buying them back up at a lower price as the decline deepens. This was averted through a massive HK$ stock-buying spree, financed by China, to the tune of 118 billion HK$, which propped up local markets to defend against the attack(15), allowing the currency to retain its value.
The difficulty George had experienced attempting to pass the healthcare bills that he had sponsored in the 1990s was due to smaller donors paying for television advertisements to run what essentially amounted to information campaigns against the misrepresentations that so defined the acts he was directly funding. He recognised this, and set his sights on ‘campaign finance reform’, which, conveniently enough, included new restrictions on television and radio advertising.
He remarked during a speech at Colombia Medical School that: “Television ads are doubly corrupting: They substitute misleading, negative sound bites for honest statements, and they are paid for by donor (read: special-interest) money. Certainly in the United States candidates cannot get enough money to get elected without striking bargains with special interests.”(16) Understanding how Soros and his OSI operates in the modern age makes this quote especially humorous in its irony. It was clear, ol’ Georgy-boy wanted to deplatform future opposition, and prevent them from having access to television advertising.
A few short months after this speech at Colombia, Senator John McCain and Senator Russ Feingold proposed a bill that would lead to “comprehensive campaign finance reform”, the bill was titled The McCain-Feingold Act. This lead to a massive decrease in television and radio advertising in politics, due to new restrictions which were created to stop the flow of “soft money”. Soft money being money that is donated to political parties where the purpose is not to promote a specific candidate. Eliminating the flow of soft money would prevent information campaigns like the ones which blocked Hillary Clinton’s healthcare bill from being broadcast on television and radio. Here we begin to see the insidious controlling influence which can be exerted on the development of new legislation from the shadows by those with the funding, tact, and initiative to influence the right people.
“Working with others interested in this issue, Soros would use the institutional network he was beginning to build to create the illusion of a mass movement so that members of Congress would feel that everywhere they looked—academic institutions, the business community, religious groups—there was a clamour for campaign finance reform”(17)
Millions were poured into this effort to reform campaign financing by The Open Societies Institutes, and well as an OSI funded think tank named The Pew Charities Trust(18), and organisation that would itself bypass the finance reform legislation by giving massive grants to media organisations such as National Public Radio to promote their cause. On top of that, institutions such as New York University’s Brennan Centre would begin to receive grants to conduct legal studies, and to produce papers, which focused on attempting to justify the regulation of free speech(19)(20). This is where the story really starts to get interesting.
“There is this gap between perception and reality, and that is the gap that I have really… explored… and also exploited.”(21) –George Soros
The influence on culture and politics by powerful financiers who are playing a game of hide the money trail is a vital consideration for anyone who aims to understand the deep politics of how the world is really run in the 21st century. Funding efforts are shared, and channelled by degrees of separation through multiple charities and other NGOs who hide behind the veil of outwardly expressed philanthropy (a key PR masking strategy). Money flows in ways in which its source is obfuscated, and its intended use is made unclear; or at least arguable.
This monetary shell-game is the rouse through which billionaires such as Soros hide their intentions, and confuse any efforts of those looking to find out who benefits. These tactics are so effective that even when we are researching to the best of our ability to put the pieces of the puzzle together, what we can find will only be a small section of the greater picture, forever seeded with kernels of doubt and plausible deniability. The gaps between perception and reality are being exploited because of a lack of awareness, a lack understanding of the facts of the matters at hand. What needs to happen is a bridging of those gaps, so people are not so easily taken advantage of because of their own ignorance.
The more funding one has, the more allies in their network, the more companies they have a controlling interest in, or strong influence upon: the easier it is to hide the money trail. The only way to combat this is through legal reform of the careful examination of loopholes which allow such trickery to go unchecked. These influencers need to operate in the light of day, or face consequences for their lies and manipulation; which effect the lives of billions of people. The fate of the nations of Planet Earth need to decided upon by The People, not the powerful investors with the funds to game the system. Serious consideration now needs to be taken in order to figure out how to make that perception a reality.
- Sebastian Mallaby, ‘More Money Than God’, Penguin Press (2010)
- George Soros interview, The Charlie Rose Show, PBS (November 30, 1995)
- The Shadow Party: How George Soros, Hillary Clinton, and Sixties Radicals Seized Control of the Democratic Party, By Stephen Lawhead, David Horowitz, Richard Poe (p. 136)