Question: What do we know about the Managed Funds Association (MFA) and could it be true that its members are behind the financial crisis here at home and abroad and if so-why?
This revealing document by Cliff Kincaid, President of America’s Survival, Inc. gives us an insight into who might be behind the financial crisis here at home and abroad and why-You Decide:
Who’s Behind the Financial Crisis?-Posted on America’s Survival, Inc.-By Cliff Kincaid:
These are pertinent excerpts from this document:
“The New York Times is quoting a spokesman for George Soros as saying that the well- known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole. But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged and annihilated.”
The term “short selling” in this context refers to investors, speculators and currency manipulators who bet on the decline or collapse of a stock or currency through complex financial instruments handled mostly through secret off-shore accounts. For the hedge fund short sellers to make money, prices have to go down.
Short-sellers, who are appearing at a March 11 event at the libertarian Cato Institute, insist that they “provide liquidity and transparency to our capital markets” and that their operations “expose corporate fraud and mismanagement.”
But Diamond strongly disagrees. He says the Managed Funds Association, the lobbying arm of the hedge fund short sellers, is crafty and deceitful. “When they tell you that short selling contributes liquidity to the market, that is a lie,” he says. “Short selling destroys capital and takes away liquidity from the market. When they tell you that they are taking steps to remove manipulation from the stock market, that is a lie. They are taking steps to introduce manipulation to the stock market, and prime the stock market for manipulation and looting. When they tell you that the uptick rule is outdated, because of decimalization, that is a lie. They lie to deceive, to bring forth a big pay day from short selling, hence the looting of America and America’s wealthiest corporations and their shareholders, sanctioned by their Washington D.C. lap dogs.”
“The most influential members of Managed Funds Association, the hedge fund short sellers, have an anti-capitalism agenda, an anti-industrialized nation agenda, and a far left liberal, Marxist radical agenda,” Diamond says. ”Hedge Fund short sellers are not capitalist. They are anti-capitalist and they are not investors; they are anti-investors.” He says they “loot” companies and countries.
The Times noted that a dinner was held in New York last month where “representatives of some of these hedge funds discussed betting against the euro” in the wake of the Greek financial crisis. As a result, the paper said, at least four hedge funds had been asked by the Justice Department to turn over trading records and other documents.
They were Greenlight Capital, SAC Capitol Advisors, Paulson & Company and Soros Fund Management.
Claiming that Soros is not involved in any wrong-doing, Michael Vachon, a spokesman for Soros Fund Management, told the Times that, “It has become commonplace to direct attention toward George Soros whenever currency markets are in the news.”
Diamond, an African immigrant who came to America and became a successful businessman, concludes otherwise, saying that Soros and other short sellers who belong to the Managed Funds Association, the “voice of the global alternative investment community,” are corrupting influences that undermine nations, their economies and currencies, and the global financial system as a whole.
Diamond, with 14 years of experience in the financial markets, calls his book a course in “Economic crisis 101” because of the need to inform ordinary Americans of what is happening right before their eyes. The book is easy to read, although it deals with complex financial regulations and operations, and is only 118 pages. The theme is that the economic crisis was deliberately engineered for profit and political gain and has already resulted in the “looting” of $11 trillion from the U.S. economy.
We had warned about this potential problem in a January 16, 2008, column, “Soros Bets on U.S. Economic Collapse,” in which we noted hedge fund ties to the Democratic Party and a report that hedge fund managers, including Soros, stood to make billions of dollars from a U.S. housing market collapse.
Regulation of the hedge fund industry and other recommendations are included in Diamond’s book, which carries the subtitle of “The scam that elected Barack Obama.”
He accuses many of these same global players now under scrutiny for wreaking havoc in Europe of being behind the U.S. financial crisis that enabled Obama to win the presidency.
“George Soros put the support of the organization [the MFA] behind Obama,” his book says. “Soros wanted somebody that hates the traditional America and its constitution, a left-wing radical like himself, so he chose Obama.”
“Nothing will happen until the American people know what caused the economic crisis and the solution for fixing it,” he tells AIM. “Nothing will happen until the American people know about the Managed Funds Association and their role in engineering the economic collapse.” He calls the MFA “the cancer in our society that needs to be cut out, exterminated and abolished. America and capitalism will not survive unless the Managed Funds Association is eradicated, uprooted and destroyed.”
The MFA, meanwhile, is undergoing what the Politico calls an “image makeover,” as more scrutiny is being applied to the operations of its members. MFA President and CEO Richard Baker tells the publication that “…we have an enormous job ahead of us in providing understanding about the industry that is based in the actual market role we play, as opposed to the perceptions that have been allowed to build.”
Diamond tells us that the crisis in Greece “is just one more theater of the repercussions of the scam to annihilate capitalism. They need to be regulated just like mutual funds. If you regulate the hedge fund short sellers, just like mutual funds, that will remove the incentive for their predatory behavior of targeting companies, countries and currencies.”
Looking ahead, Diamond says, ”When the European Union (EU) bails out Greece, that bail-out will increase the EU deficit and weaken their currency, hence the decline in EU currency. That is the theory being floated by the manipulators. George Soros, the hedge fund short sellers and the speculators will trade with that assumption. They will run down the EU currency and that will be a manipulation by collusion.”
Diamond notes that Soros is a member of the Managed Funds Association, and they are “making negative comments about the Euro. They are targeting and preying on capitalist countries and currencies.”
He goes on, “They feel invincible. They have a license to destroy any company or country or hold the company or country hostage while preying on the investors. They are having dinner meetings, openly discussing collusion to attack a particular asset class, equity, or a country’s currency. If this is not organized crime, I do not know what is.”
He warns that any asset class that is traded in the NYSE, CME, or EUREX exchanges is susceptible to manipulation by the members of Managed Funds Association and their strategic partners. “They have primed the market for manipulation,” he says.
In the case of Greece, Diamond says that the country “gathered all her nest eggs and brought it to the wolves’ den at Goldman Sachs,” a member of Managed Funds Association, “but Goldman Sachs then shorted the market while their clients were on the other side of the trade.”
Diamond says there would not have been a Greece debt crisis if the all the safeguard regulations had not been removed. He blames Christopher Cox, who served as chairman of the Securities and Exchange Commission (SEC), for laying the groundwork for this financial upheaval. “The removal of the uptick rule, and the circuit breakers and the introduction of mark to market accounting is what caused the economic collapse and the stock market crash,” he says. “Greece lost investment capital in the 2008 Wall Street collapse, which gave their country a balance sheet problem on top of the debt they already have. Their deficit ballooned. You know the rest. The EU is accusing Greece of not disclosing all their debt and investment risk exposure.”
Commenting on reports that federal authorities and the SEC will investigate Goldman Sachs for their involvement in the Greece debt crisis, Diamond says that “my prediction is that nothing will happen” because Goldman Sachs is a member of the powerful MFA.
“The Managed Fund Association is the government,” Diamond charges. “They bought the policy makers and regulators, and then took over our government.”
Note: This is the Amazon.Com Product Description of the book titled “The Scam That Elected Barack Obama” mentioned in the above document:
“Corruption in Washington & Wall Street joined at the hip has affected your finances and your children’s future; it is about the complete erosion of representative government that ceded the power of policy writing and regulation of our banking and financial markets to a lobbying company for the hedge fund short sellers whose greed for power and profit led them to subvert our capitalist system economy, their dirty malicious scandalous criminal maneuvers resulted in the collapse of the economy, the lending freeze, the stock market crash, and the looting of America in excess of $11 trillion dollars; it was a perfect crime until now, the truth and their secrets revealed in this book. The scam orchestrated by the wizards of Wall Street and sanctioned by their Washington DC lap dogs; the scam that elected Barack Obama, Exposed. Who did it and how? Details and names revealed; Architects of the crisis. The book offers the solution for a complete and permanent recovery from the crisis.”
Note: This is the Managed Funds Association’s official web site:
This is an excerpt from the web site:
“MFA is the voice of the global alternative investment community. Our members are professionals in hedge funds, funds of funds and managed futures funds, as well as industry service providers. Established in 1991, MFA is the primary source of information for policy makers and the media and the leading advocate for sound business practices and industry growth.”
Soros Bets on U.S. Economic Collapse-Posted on AIM Column-By Cliff Kincaid-On January 16, 2008:
These are pertinent excerpts from this article and/or blog post:
“Senators Hillary Clinton and Barack Obama favor government support for people losing their homes because they can’t repay their subprime mortgages. But what about the financial wheeler-dealers in the hedge fund industry who may stand to make billions of dollars from this terrible debacle? Foremost among them is billionaire hedge fund operator George Soros, who has committed his life and immense financial resources to bringing the Democrats to power in the White House.
Ties to the controversial and mysterious hedge fund industry could become a major problem for the Democratic Party. Hedge fund money “appears to be tilting toward the Democrats of late,” the New York Times reported last year.
The connection is personal. Chelsea Clinton took a job in 2006 with Avenue Capital Group, a hedge fund whose founder, Marc Lasry, has contributed tens of thousands of dollars to the national Democratic Party and many of its candidates. Federal Election Commission records show $5,000 from Lasry to HILLPAC, Hillary’s political action committee, thousands more to Hillary’s senate campaign, and thousands more to Hillary’s presidential campaign.
Democratic presidential candidate John Edwards took some criticism when it became known that he had gone to work for a hedge fund. As noted by the Washington Post, “The hedge fund that employed John Edwards markedly expanded its subprime lending business while he worked there, becoming a major player in the high-risk mortgage sector Edwards has pilloried in his presidential campaign.” Edwards claimed he didn’t know anything about the firm’s involvement in subprime lending.
It is interesting to note that the co-author of the Post article, John Solomon, has left the paper to become editor of the rival and conservative Washington Times. Solomon had come under savage attack by left-wingers for doing stories about corruption in the Democratic Party. They probably realized that Solomon was on to something when he uncovered Edwards’ relationship with a hedge fund company. But Edwards is not alone.
For those reporters interested in getting to the bottom of this growing controversy, there are many tantalizing leads to pursue.
The Wall Street Journal on Tuesday ran a fascinating front-page story about John A. Paulson, a Wall Street trader who has made billions of dollars betting that the housing market would collapse. The Journal says that Paulson personally made between $3 and $4 billion, “the largest one-year payday in Wall Street history.” The story suggests he has been somewhat secretive about his activities but is now opening up about his “historic coup” in comments to Journal reporter Gregory Zuckerman.
While there is nothing improper or illegal in how Paulson made his money, there are no details about where he got some of his funds or exactly how he placed his financial bets. The paper notes that “European investors” gave him about $150 million and that he is so savvy that George Soros “invited Paulson to lunch, asking for details of how he laid his bets, with [financial] instruments that didn’t exist a few years ago.” The article said that “Soros is famous for another big score, a 1992 bet against the British pound that earned $1bn for his Quantum hedge fund.” Soros “declined to comment” about his meeting with Paulson, the Journal said.
Declined to comment? Since Soros is a major supporter of the secretive Democracy Alliance, a group backed by rich liberals who fund a network of liberal-left groups dedicated to electing Democrats to the White House and Congress, could the discussion have also been political in nature?
The American people should be quickly educated by our media on how very rich people like Paulson and Soros make “bets” on the rise or fall of national currencies and economies. Paulson is now telling investors “it’s still not too late” to bet on more economic problems. These are capitalists who seem to have a vested interest in the further decline of the U.S. economy.
We may not know much about Paulson, but we know a lot about Soros. He is a financial manipulator, convicted of illegal insider trading in France for playing financial games with a bank there.
We also know that he spent over $20 million trying to defeat George Bush for president in 2004 and has contributed to such groups as the Democratic National Committee, MoveOn.org, and candidates such as Hillary Clinton and Barack Obama. Soros, in short, is a major financial backer of the Democratic Party and will be in a position to collect on these debts if Hillary or Obama wins in November. Their election may depend on further substantial erosion in the national economy. Is it possible that the financial activities of Soros could make it more likely that the economy will go into a complete tailspin?
Any economic problems will, of course, be blamed by the Democrats and the liberal media on President Bush and the Republicans. The Republicans may not be smart enough to recognize that hedge fund managers and their links to the Democratic Party could become a potent campaign issue. Perhaps they will regard the issue as too “populist” for their taste.
If the Democrats succeed in exploiting the economic problems, they will not only keep control of Congress in this fall’s elections but will put Clinton or Obama in the White House. Their “mandate,” however, will go beyond new government programs for the economy into the social realm. And that’s where Soros has a keen interest.
The issue of Obama’s drug use has surfaced in the campaign, but Soros has put millions into the drug legalization movement. Some other money from his fortune, estimated at $7 billion, has been put into causes such as abortion rights, gay rights, voting rights for felons, euthanasia, and rights for immigrants and prostitutes.
Now that Obama and Clinton have patched things up on the race issue, can we count on the media to turn their attention to George Soros and other hedge fund managers who stand to profit from an economic recession or even depression?
With millions of people either losing their homes or a substantial part of their value, the media should not be content with a no-comment from these crafty behind-the-scenes money men.”
Hedge Funds, Politics, and the Market Crash–Posted on American Thinker-By Ed Lasky-On October 21, 2008:
These are pertinent excerpts from this article and/or blog post:
“There are several culprits in the recent market crash, but one key source of the problem has hitherto escaped attention: an economic index that can be easily manipulated by hedge funds and whose gyrations have shaken the foundation of Wall Street: the ABX index, launched in 2007 by the Markit Group, a London-based company that specializes in credit derivative pricing and that administers the index.
The collapse in the American stock markets was a calamity for the campaign of John McCain. In September, McCain was running strongly against Barack Obama. Some polls had him leading Barack Obama by 3 percent before the market broke. By October 7th, Obama had taken the lead across America. What changed in one month? The trigger was the market crash. Who pulled the trigger and why? Who benefited?
At the heart of the mortgage mess is uncertainty regarding the value of subprime securities held by banks, saving and loans, Fannie Mae, Freddie Mac and a wide range of financial firms across America. However, the impact has spread beyond the value of just those mortgages. A supermarket of financial products has been created using the “raw material” of the mortgages themselves (recall the adage about everything from a pig being used but the squeal?). Mortgages can be packaged into securities called collateralized debt obligations (CDOs) and sold in slices with varying levels of risk. Furthermore, for buyers of these slices who wanted to insure against the debt going bad, Wall Street created a new instrument, called “credit-default swaps” (CDSs).
The value of all of these “products” pivots on the underlying value of the mortgages themselves.
Image an inverted pyramid. At the bottom are subprime mortgages and everything above is a type of financial family tree spawned by the mortgages themselves. An inverted pyramid is inherently unstable. A kick at the bottom can collapse the whole structure. And so it has.
The Role of the ABX Index:
The heart of the mortgage mess is uncertainty regarding the value of subprime securities. The ABX Index is used to determine the value of these securities: it is a benchmark of the marketfor all the home loans issued to borrowers with weak credit . A collapse of this index leads to these home loans being marked down in value. The advent of the so-called mark-to-market accounting rule requires firms to slash the value of their holdings. This rule has magnified the problem: weakened balance sheets restrain lending, risk-taking, and may ultimately lead to bankruptcy.
The problem is that it looks like the ABX can be manipulated. The Wall Street Journal has noted that there is criticism “that the ABX is manipulated by hedge funds, or fails to represent the overall subprime or housing market”
As the ABX subprime mortgage index crashed, so did much of our economy.
Some investors benefited handsomely. Hedge fund manager John Paulson personally has made billions of dollars over the last two years from the collapse of the subprime mortgage market. How he did this can be found in this superb Wall Street Journal article.
Who else may have benefited? Indeed, who may have helped precipitate the crisis by taking actions that would weaken the ABX Index? We don’t know, but there are some obvious suspects.
George Soros for one. Soros (the “owner of the Democratic Party” according to Saturday Night Live) is a legendary hedge fund manager who has become a political powerbroker of unrivaled influence within the Democratic Party (see The Shadow Party: How George Soros, Hillary Clinton and Sixties Radicals Seized Control of the Democratic Party) and who has an empire of politically active 527 groups, of which he is the number one donor, by far, in America.
Soros’s hedge fund—like most hedge funds—is based overseas and escapes much scrutiny and regulation (more on this later).
Word of Paulson’s early success got “around in the world of hedge funds” and Soros invited Paulson for lunch, “asking for details of how he laid his bets, with instruments that didn’t exist a few years ago”
Paulson made billions betting against the ABX Index. When you bet against the value of an index it exerts pressure on it—hastening a decline and thus a decline in the value of the products that are priced using this index.
Did George Soros profit from such machinations, too? A relative, Peter Soros, directly invested with Paulson. Others also listened to Paulson and went off on their own to independently follow the same strategy and have reaped vast fortunes in doing so. Soros has refused to answer questions from the Wall Street Journal about his now infamous lunch with Paulson .
This is somewhat surprising silence from a man well known for his loquaciousness. He certainly has not been reticent the last couple of years as he trash-talked down the American economy. As a man whose investment prowess is legendary, his words alone could have harmed the stock market.
Soros is, after all, the man who famously broke the Bank of England decades ago and made a billion dollars in doing so. George Soros probably has made billions over the last couple of years. Paulson and Soros both shared the “honor” of being the highest earning hedge fund managers last year and will probably do so again this year.
George Soros, not so incidentally, was a very early and influential backer of Barack Obama. He is a very prescient investor.
Now how does this play in the election?
Hedge funds have been a big source of the problems besetting the market. Heavily leveraged, they have had to sell vast quantities of securities to meet margin calls as well as fund withdrawals from investors.
But could hedge funds such as those run by Mr. Soros also have precipitated the crisis, a crisis that has literally in the span of a few weeks upended the political race for the White House? Short-selling can drive down the market.
Hedge funds are the biggest practitioners of short-selling. Other big institutional investors, including mutual funds and pensions funds, are barred from the risky practice.
Hedge fund short-sellers in recent weeks have targeted financial stocks such as the now-defunct Lehman Brothers and Washington Mutual as well as troubled firms such as Morgan Stanley to try to restore the double-digit returns that endeared them to wealthy investors.
The most dangerous are the hedge funds based overseas, such as the one run by George Soros, that escape scrutiny and a range of regulations.
The Washington Times:
Hedge funds through the years lobbied hard to escape regulation….Legislators and regulators in Europe and the United States are considering much stricter regulations. Italian Finance Minister Giulio Tremonti recently proposed abolishing hedge funds entirely.
But the huge sums that hedge funds contribute to political candidates and lobbying in Washington make it unlikely that would happen in the United States.
Robert Morgenthau, the legendary district attorney for Manhattan, penned an op-ed for the Wall Street Journal recently highlighting the dangers of overseas hedge funds (Too Much Money is Beyond Legal Reach):
A major factor in the current financial crisis is the lack of transparency in the activities of the principal players in the financial markets. This opaqueness is compounded by vast sums of money that lie outside the jurisdiction of U.S. regulators and other supervisory authorities.
The $700 billion in Treasury Secretary Henry Paulson’s current proposed rescue plan pales in comparison to the volume of dollars that now escape the watchful eye, not only of U.S. regulators, but from the media and the general public as well.
There is $1.9 trillion, almost all of it run out of the New York metropolitan area, that sits in the Cayman Islands, a secrecy jurisdiction. Another $1.5 trillion is lodged in four other secrecy jurisdictions.
Following the Great Depression, we bragged about a newly installed safety net that was suppose[d] to save us from such a hard economic fall in the future.
However, the Securities and Exchange Commission, the Federal Reserve System, the Comptroller of the Currency and others have ignored trillions of dollars that have migrated to offshore jurisdictions that are secretive.
We have to learn from our mistakes. Any significant infusion to the financial system must carry assurances that it will not add to the pool of money beyond the safety net and supervisory authority of the United States. Moreover, the trillions of dollars currently offshore and invested in funds that could impact the American economy must be brought under appropriate supervision.
Morgenthau was particularly brave in issuing such a warning since the Democratic Senators of New York have been in the forefront of protecting hedge funds. Senator Schumer was among the Senate Democrats who recently led the fight against taxing hedge funds at a higher rate. The Democrats are far from alone, however. The effort to rein in hedge funds was led by Republican Senator Charles Grassley.
Hedge funds are a major source of donations for Democrats. The Democratic Senatorial Campaign Committee, which Schumer heads, received $779,100 from employees of private-equity head funds in June 2007 (as the tax battle was heating up in the Senate), far exceeding the $60,000 received by the Republican Senate Committee.
Senator Chris Dodd (D-Connecticut)) is a “beloved advocate of many of the hedge funds housed in his state” and has benefited mightily from donations from these hedge fund managers. He is the head of the Senate’s powerful Banking Committee that helps draft (or not) legislation regulating hedge funds.
Barack Obama has now eclipsed Dodd’s fundraising record from hedge fund titans. Indeed, Barack Obama-after an initial promising stance regarding taxing hedge funds-backed away from the issue after briefly raising it last year.
The investors in these overseas hedge funds are secret. One cannot find out who they are because their identity is protected in these “secrecy jurisdictions”.
However, only the world’s richest invest in hedge funds. So who have become rich over the last few years? Have you pumped gas, lately? Are Russia and China, and Arab oil nations, the only countries with vast reserves of cash? Are these the very nations vying with America on the geopolitical stage?
Can these hedge funds—some of which have benefited from the mortgage crisis—also taken steps to pressure the American stock market (a decline that has also affected markets around the world)? Have they been short-selling the market?
During the collapse of the stock market, noted Wall Street commentator and CNBC star James Cramer noted that traditional short-sellers were not as active as one might expected (“regular short sellers are not doing this” and “traditional short sellers are not active” and “are not so patriotic that they would be doing this”), and said that his sources have mentioned that “financial terrorism” may be at work.
Is this all just speculation? Yes.
There is a range of problems affecting the American economy. Over-leveraged companies, excessive speculation, loosely written regulations, natural business cycles, over-consumption driven by an addiction to credit. A weakening economy after years of growth. The house of cards was bound to collapse at some point.
Barack Obama may be the luckiest politician ever. This tailspin might just be one in a long chain of “lucky” breaks.
There is no evidence of any conspiracy. No smoking guns. Hedge funds are in the business of making money, not shifting geopolitics. If the market is undervalued now, investors will start scooping bargains. It all might have just been a once in a decade (or two) perfect storm that sent the market into a tailspin (along with the rest of us)
It seems that Obama was just lucky that a market slide seems to have decisively swung the campaign in his favor.
That Obama was again lucky that the meltdown occurred just as John McCain was overtaking him in the polls.
And that Obama simply lucked out that one of his most influential supporters, one of the world’s most adept fund managers (as the Bank of England learned the hard way) also benefited from the meltdown in the markets.
This financial tsunami, and its timing, like the election-eve sex-scandal exposés of his opponents during his Illinois races, might just be one in a long chain of Barack Obama’s “lucky” breaks.
If so, Barack Obama must be the luckiest politician, ever.
There is an old salesman’s saying that goes: “I’d rather be lucky than good.” It may behoove voters to remember this adage before pulling the lever in November.
Washington Post columnist Anne Applebaum has an intriguing columnin today’s edition titled “The Iceland Syndrome.” She notes that various nations in Europe have seen their stock markets collapse with consequent political changes. She speculates that certain machinations by players, internal and external to that nation, wishing to destabilize countries may have led to these declines.
Market manipulations to achieve geopolitical ends. Is it beyond the realm of possibility?
All governments have enemies, internal and external, or at least are faced with elements that do not wish them well: the political opposition, the country next door, the former imperial power. For someone, there will always be the temptation to bring down the government, destabilize the country and thus create political chaos.
Even when there hasn’t been political meddling, someone else will suspect that it has occurred, anyway. Here, then, is a prediction: Political instability will follow economic instability like night follows day. Iceland is not alone. Serbia, the Baltic states, Kazakhstan, Indonesia, South Korea and Argentina are all in financial trouble; so, too, are Russia and Brazil.
And here’s a final, unpleasant thought: Pakistan. This is a country with 25 percent inflation and a currency in free fall; a country with a jihadist insurgency on its border with Afghanistan, permanent hostility on its border with India, nuclear weapons and a tradition of street demonstrations in response to suspect newspaper articles. Dozens of people, with all kinds of agendas, have an interest in using financial markets to destabilize Pakistan, and Afghanistan along with it. Eventually, one of them will.”
Ed Lasky is news editor of American Thinker.”
GEORGE SOROS-Posted on DiscoverTheNetWorks.org:
These are pertinent excerpts from this article and/or blog post:
“George Soros was born on August 12, 1930 in Budapest, Hungary. His father, Teodoro Schwartz, was a successful attorney and an Orthodox Jew who, in 1936, changed the family surname from Schwartz to Soros in order to enable his family to conceal its Jewish identity and thus to survive the Nazi Holocaust.
When the Nazis occupied Budapest in 1944, Soros’ father decided to split up his family, so as to minimize the chance that all its members would be killed together. He purchased forged papers for each of them, and then bribed a government official to claim George as his Christian godson and to let the boy live with him.
“While hundreds of thousands of Hungarian Jews were being transported to death camps,” reports the Sweetness and Light website, “George Soros accompanied his phony godfather on his appointed rounds, confiscating property from the Jews.” (Many years later — in December 1998 — a CBS interviewer would ask Soros whether he had ever felt any guilt about those circumstances.
“[T]here was no sense that I shouldn’t be there, because that was–well, actually, in a funny way, it’s just like in markets — that if I weren’t there — of course, I wasn’t doing it, but somebody else would — would — would be taking it away anyhow. And it was the — whether I was there or not, I was only a spectator, the property was being taken away. So the — I had no role in taking away that property. So I had no sense of guilt.”)
In 1947 Soros’ family relocated from Hungary to England. Five years later, George graduated from the London School of Economics. He subsequently worked for a London stockbroker.
In 1956 Soros, with meager personal assets, emigrated to the United States. He would go on to become one of the world’s leading hedge fund investors and currency traders.
In 1969 he started his enormously successful Quantum Fund, which, over the ensuing three decades, yielded its long-term investors a four thousand-fold gain on their initial 1969 investments.
In a $10 billion 1992 deal whose success was contingent upon the devaluation of the British Pound, Soros earned himself a $1 billion profit and the title, “the man who broke the Bank of England.”
To date, he has amassed a personal fortune exceeding $7 billion. In addition, his management company controls billions of dollars more in investor assets.
In 1979 Soros established the Open Society Institute (OSI), which serves as the flagship of a network of Soros foundations that donate tens of millions of dollars each year to a wide array of individuals and organizations that share the founder’s agendas.
Those 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 the civil rights and liberties of 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
- promoting taxpayer-funded abortion-on-demand
- advocating stricter gun-control measures
- advocating the legalization of marijuana
Soros and his foundations have had a hand in funding such noteworthy leftist organizations as the:
American Constitution Society for Law and Policy; the Tides Foundation; the Tides Center; the National Organization for Women; Feminist Majority; the American Civil Liberties Union; People for the American Way; Alliance for Justice; NARAL Pro-Choice America; America Coming Together; the Center for American Progress; Campaign for America’s Future; Amnesty International; the Sentencing Project; the Center for Community Change; the National Association for the Advancement of Colored People Legal Defense and Educational Fund; Human Rights Watch; the Prison Moratorium Project; the Malcolm X Grassroots Movement; the National Lawyers Guild; the Center for Constitutional Rights; the Coalition for an International Criminal Court; The American Prospect; MoveOn.org; Planned Parenthood; the Nation Institute; the Brennan Center for Justice; the Ms. Foundation for Women; the National Security Archive Fund; the Pacifica Foundation; Physicians for Human Rights; the Proteus Fund; the Public Citizen Foundation; the Urban Institute; the American Friends Service Committee; Catholics for a Free Choice; Human Rights First; the Independent Media Institute; MADRE; the Mexican American Legal Defense and Education Fund; the Immigrant Legal Resource Center; the National Immigration Law Center; the National Immigration Forum; the National Council of La Raza; the American Immigration Law Foundation; the Lynne Stewart Defense Committee; and the Peace and Security Funders Group.
Apart from the more than $5 billion that Soros’ foundation network has donated to leftist groups like those listed here, Soros personally has made campaign contributions to such notable political candidates as Charles Rangel, Al Franken, Tom Udall, Joe Sestak, Sherrod Brown, Harry Reid, Barack Obama, Hillary Clinton, Barbara Boxer, Ken Salazar, Patrick Leahy, John Kerry, Charles Schumer, Howard Dean, Bill Clinton, Tom Harkin, Jon Corzine, Joe Biden, Richard Durbin, Lane Evans, Dennis Kucinich, Maurice Hinchey, and Al Gore. He also has given large sums of money to the Democratic Senatorial Campaign Committee, the Democratic Senatorial Campaign Committee, and the Democratic National Committee Services Corporation.
In October 2010, Soros announced that he was donating $1 million to Media Matters for America, which would use the money to hold “Fox [News] host Glenn Beck and others on the cable news channel accountable for their reporting.”
Also in October 2010, journalist Matthew Vadum reported that Soros was “bankrolling a documentary that celebrates left-wing terrorists who plotted to napalm Republicans at the 2008 GOP convention in Minnesota.”
A trailer for the film, titled Better This World, suggested that the terrorists in question — David Guy McKay and Bradley Neil Crowder — were merely idealistic activists who “set out to prove the strength of their political convictions to themselves and their mentor.”
To view a list of many of the more important Soros donees that support the foregoing agendas, click here.
Note: The above agenda seems to be in line with President Obama and his administration’s agenda since day one-You Decide.”
GUIDE TO THE GEORGE SOROS NETWORK: A Guide to The Political Left–Posted on DiscoverTheNetWorks.org:
These are pertinent excerpts from this article and/or blog post:
“In one of his most significant and effective efforts to shape the American political landscape, Soros was the prime mover in the creation of the so-called “Shadow Democratic Party,” or “Shadow Party,” in 2003.
This term refers to a nationwide network of more than five-dozen unions, non-profit activist groups, and think tanks whose agendas are ideologically to the left, and which are engaged in campaigning for the Democrats.
This network’s activities include fundraising, get-out-the-vote drives, political advertising, opposition research, and media manipulation.
Other key players included:
- Morton H. Halperin: Director of Soros’ Open Society Institute
- John Podesta: Democrat strategist and former chief of staff for Bill Clinton
- Jeremy Rosner: Democrat strategist and pollster, ex-foreign policy speechwriter for Bill Clinton
- Robert Boorstin: Democrat strategist and pollster, ex-national security speechwriter for Bill Clinton
- Carl Pope: Co-founder of America Coming Together, Democrat strategist, and Sierra Club Executive Director
- Steve Rosenthal: Labor leader, CEO of America Coming Together, and former chief advisor on union matters to Clinton Labor Secretary Robert Reich
- Peter Lewis: Major Democrat donor and insurance entrepreneur
- Rob Glaser: Major Democrat donor and Silicon Valley pioneer
- Ellen Malcolm: Co-founder and President of America Coming Together, and founder of EMILY’s List
- Rob McKay: Major Democrat donor, Taco Bell heir, and McKay Family Foundation President
- Lewis and Dorothy Cullman: Major Democrat donors
To develop the Shadow Party as a cohesive entity, Harold Ickes undertook the task of building a 21st-century version of the Left’s traditional alliance of the “oppressed” and “disenfranchised.”
By the time Ickes was done, he had created or helped to create six new groups, and had co-opted a seventh called MoveOn.org.
Together, these seven groups constituted the administrative core of the newly formed Shadow Party:
These organizations, along with the many leftist groups with which they collaborate, have played a major role in helping Soros advance his political and social agendas.
According to Richard Poe, co-author (with David Horowitz) of the 2006 book The Shadow Party:
“The Shadow Party is the real power driving the Democrat machine. It is a network of radicals dedicated to transforming our constitutional republic into a socialist hive. The leader of these radicals is … George Soros. He has essentially privatized the Democratic Party, bringing it under his personal control. The Shadow Party is the instrument through which he exerts that control. … It works by siphoning off hundreds of millions of dollars in campaign contributions that would have gone to the Democratic Party in normal times, and putting those contributions at the personal disposal of Mr. Soros. He then uses that money to buy influence and loyalty where he sees fit. In 2003, Soros set up a network of privately-owned groups which acts as a shadow or mirror image of the Party. It performs all the functions we would normally expect the real Democratic Party to perform, such as shaping the Party platform, fielding candidates, running campaigns, and so forth. However, it performs these functions under the private supervision of Mr. Soros and his associates. The Shadow Party derives its power from its ability to raise huge sums of money. By controlling the Democrat purse strings, the Shadow Party can make or break any Democrat candidate by deciding whether or not to fund him. During the 2004 election cycle, the Shadow Party raised more than $300 million for Democrat candidates, prompting one of its operatives, MoveOn PAC director Eli Pariser, to declare, ‘Now it’s our party. We bought it, we own it…‘”
Soros in 2004 spent some $26 million trying, unsuccessfully, to defeat President Bush’s reelection bid, a task Soros called“the central focus of my life” and “a matter of life and death.” He has likened Republicans generally, and the Bush administration in particular, to “the Nazi and communist regimes” in the sense that they are “all engaged in the politics of fear.” “Indeed,” he wrote in 2006, “the Bush administration has been able to improve on the techniques used by the Nazi and Communist propaganda machines by drawing on the innovations of the advertising and marketing industries.” Soros elaborated on this theme at the January 2007 World Economic Forum in Davos, Switzerland, where he told reporters: “America needs to . . . go through a certain de-Nazification process.”
Soros has been a staunch supporter of Hillary Clinton, who, in turn, has long admired Soros and shares many of his agendas.
At a 2004 “Take Back America” conference in Washington, DC, Mrs. Clinton introduced Soros with these words:
“Now, among the many people who have stood up and said, ‘I cannot sit by and let this happen to the country I love,’ is George Soros, and I have known George Soros for a long time now, and I first came across his work in the former Soviet Union, in Eastern Europe, when I was privileged to travel there, both on my own and with my husband on behalf of our country. … [W]e need people like George Soros, who is fearless, and willing to step up when it counts.” (Cited in David Horowitz and Richard Poe, The Shadow Party, p. 53)
In December of 2006, Soros met with Democratic presidential hopeful Barack Obama in his (Soros’) New York office. Soros had previously hosted a fundraiser for Obama during the latter’s 2004 campaign for the Senate. On January 16, 2007, Obama announced the creation of a presidential exploratory committee, and within hours Soros sent the senator a contribution of $2,100, the maximum amount allowable under campaign finance laws.
Later that week the New York Daily News reported that Soros would back Obama over Senator Hillary Clinton, whom he had supported in the past. Soros’ announcement was seen as a repudiation of Clinton’s presidential aspirations, though Soros said he would support the New York senator were she to win the Democratic nomination.
By the time Obama was elected, it was clear that his economic and political prescriptions for America were quite consistent with those of Soros. For example, in a November 2008 interview with Spiegel, Soros made some comments which foreshadowed precisely the course that President Obama’s administration would eventually pursue in 2009.
“I think we need a large stimulus package which will provide funds for state and local government to maintain their budgets … For such a program to be successful, the federal government would need to provide hundreds of billions of dollars. In addition, another infrastructure program is necessary. In total, the cost would be in the 300 to 600 billion dollar range…. I think this is a great opportunity to finally deal with global warming and energy dependence. The U.S. needs a cap and trade system with auctioning of licenses for emissions rights. I would use the revenues from these auctions to launch a new, environmentally friendly energy policy.”
The interviewer then said: “Your proposal would be dismissed on Wall Street as ‘big government.’ Republicans might call it European-style ‘socialism.'”
“That is exactly what we need now. I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful — but also very harmful to our society…. I think it is better to have a government that wants to provide good government than a government that doesn’t believe in government…. At times of recession, running a budget deficit is highly desirable.”
Papandreou seeks French backing for debt crisis–Posted on Yahoo News-By ELENA BECATOROS, Associated Press Writer-On March 7, 2010:
Was Financial Collapse an Orchestrated Event? “U.S. Rep. admits run on banks that started financial meltdown was deliberate attack”–Posted on AmericanFreePress.net-By Mark Glenn-On March 2009:
Bill O’Reilly Targeting Move on.org and Soros–Posted on Live Leak-On August 4, 2008:
Note: The following web sites reveal George Soros and his ultimate goal of destroying America and establishing a one-world government, along with a website and an article and/or blog post that reveal the Obama and Soros connection-You Decide:
George Soros is Implementing a “One World” Socialist Government–Posted on CommiBlaster.com:
The Shared Agendas of George Soros and Barack Obama!
The Obama-Soros Connection!
Note: These recent articles and/or blog posts relate to and/or support the above document, articles and/or blog posts, book and video-You Decide:
Breaking-United State’s New Hero ~ Vladimir Putin: Russia Issues International Arrest Warrant For Rothschild Henchman & Leftist Savior George Soros!-Posted on Political Ve Craft-On March 23, 2012:
The Barney Frank Era: ‘The Congressman from Fannie Mae retires.’–Posted on The Patriot Post-By Nate Jackson for The Patriot Post Editorial Team-On November 30, 2011:
How Paulson Gave Hedge Funds Advance Word of Fannie Mae Rescue!–Posted Bloomberg News-By Richard Teitelbaum–On November 29, 2011:
Why Aren’t “Occupy Wall Street” Protestors Targeting George Soros Instead of Wall Street?-Posted on WND.com-By Ann Coulter-On October 19, 2011:
Soros Loses Bid to Overturn 2002 Insider Trading Conviction By European Court of Human Rights!-Posted on FoxNews.com-On October 7, 2011:
An Examination Of Some Of Soros’ Socioeconomic Philosophies!-Posted on The Blaze-By Becket Adams-On October 6, 2011:
Soros Made Nearly $1B From U.S. Debt Downgrade?–Posted on The Blaze-By Christopher Santarelli-On August 8, 2011:
Agents of George Soros Sabotaging the U.S. Economy!–Posted on America’s Survival-By Cliff Kincaid-On August 25, 2010:
Fannie, Freddie, Ginnie and Their Pimps–Posted on American Thinker-By Jack Curtis-On April 9, 2011:
The Real State of the Union–Posted on USA Survival News-By Zubi Diamond-On January 26, 2011:
Investigate This!-Posted on Human Events-By Ann Coulter-On January 5, 2011:
Equality: the good and the bad kinds–Posted on Patriotic Update-By Nathaniel Davidson-On December 2, 2010:
FBI Visit Exposes Trade-Probe Tactics–Posted on The Wall Street Journal-By SUSAN PULLIAM-On November 22, 2010:
Soros’s CAP gives Obama his marching orders to subvert the will of the people–Posted on American Thinker-By Ed Lasky-On November 17, 2010:
People must take power against oppressors–Posted on Guam PDN-By A. GAFFAR PEANG-METH-On November 17, 2010:
READ THE BECK TV BACKGROUND GUIDE TO GEORGE SOROS-Posted on The Blaze-By Jonathon M. Seidl-On November 9, 2010:
Officers counter ‘PC’ Fort Hood memorial: ‘Counter-terror group of 1st-responders present alternative remembrance’–Posted on WND.com-On November 5, 2010:
Many Supporters of U.N. Resolution against ‘Blasphemy’ Have Terrible Record on Religious Freedom–Posted on CNSNews.com-By Chris Johnson-On November 16, 2010:
Obama Finally Names Nominee for U.N. Reform Post, But He Has No U.N. or Diplomatic Experience–Posted on CNSNews.com-By Patrick Goodenough-On November 17, 2010:
UN Says We’re Destroying Climate, But Earth’s People Healthiest Ever!-Posted on Rush Limbaugh-On November 5, 2010:
U.N. Human Rights Council Takes Aim at New Target: United States-Posted on FoxNews.com-By George Russell-On November 05, 2010:
U.S. and Its ‘Broken’ Immigration System to Be Reviewed by U.N. Human Rights Council–Posted on CNSNews.com-By Patrick Goodenough-On November 01, 2010:
Exposed! George Soros’ scheme for ‘elite’ judiciary: ‘How many Elena Kagans and David Souters can America tolerate?’–Posted on WND.com-By Bob Unruh-On October 30, 2010:
Soros Gives $1M to Calif. Pot Legalization Push-Posted on CBSNews.com-By The Associated Press-On October 27, 2010:
Shadow Party: Daily Kos Wants to Googlebomb Republicans into Electoral Oblivion–Posted on Pajamas Media-By Bryan Preston-On October 8, 2010:
The Shadow Party: How a Washington-Based Liberal Activist Is Trying to Turn Texas Blue (Whether Texans Want It or Not)-Posted on Pajamas Media-By Bryan Preston-On September 16, 2010:
Note: The above eye-opening document, articles and/or blog posts, book and video give us an insight into who or what caused the financial crisis that propelled President Obama into the White House-You Decide.
Note:The above eye-opening document, articles and/or blog posts, book and video overwhelmingly support my recent blog posts-You Decide:
Congress report concedes Obama eligibility unvetted!
America’s Love Affair With President Obama Is Over!
Powerful men who meet secretly and plan how to run our country!
Who or what caused the economic crisis that propelled President Obama into office?
ACORN-The Community Reinvestment Act (CRA)-Automaker Labor Unions
The Greatest Fraud Perpetrated in American History!
Was there a conspiracy to put Obama in the White House?
Can America Survive Obamanomics and Remain a Capitalist Society?
Manipulation Behind Market Plunge!
Could Steps That Team Obama Has Taken Be Emboldening Terrorists?
Veterans and members of our Armed Forces under attack!
What is the true intent of the UN Small Arms Treaty?
Is there a Christian basis for combating the threat of global warming?
Who owns our supposedly fair and balanced airwaves and news outlets?
Where Is America Today?
Washington Times Calls for Obama’s Impeachment!
Extensive Research Into Senator Obama’s Background Completed on November 3, 2008:
Note: These recent videos wholeheartedly share my sentiments-You Decide:
Ray Stevens – We The People – RayStevens.com:
The Fightin Side of Me!
We The People:
Breaking Point: 25 Minutes That Will Change America:
Freedom Isn’t Free:
Battle for America:
Just Everyday Americans (Hold On)–Posted on OurAmericanFreedom.com-By Jerry Wright:
A Nation Adrift Theme and Disclaimer:
“Food For Thought”
“God Bless & Keep Our USA Safe”