Sunday, March 29, 2009

George Soros is Having a Very Good Financial Crisis

George Soros is a billionaire hedge fund manager. He is also the money behind, where he spent $25 million in a failed effort to defeat President George W. Bush’s bid for re-election in 2004.

He isn’t easy to like. He recently bragged that he is “having a very good crisis,” after making $1.1 billion last year in hedge funds. He told “The Australian” newspaper that the financial crisis has been “stimulating” and “the culminating point of my life’s work.”

Soros has stated publicly that he wishes to burst the “bubble of American supremacy,” in order to establish global “equilibrium”.

According to the American Thinker blog, he made his first billion in 1992 by shorting the British pound with leveraged billions in financial bets, and became known as the man who broke the Bank of England. He broke it on the backs of hard-working British citizens who saw their homes severely devalued and their life savings cut drastically in comparative worth almost overnight.

He was accused by the Malaysian Prime Minister of causing the collapse in the Asian financial system in 1997 by his monetary machinations during a financial crisis. He is considered an “economic war criminal” in Thailand. He has credited himself with bringing down the Soviet Empire. In 2006, he was convicted in France of illegal insider trading in his attempt to take over the Societe Generale Bank, and paid a fine of $2.9 million, mere chicken feed considering that his income that year was $3 billion.

Flash back to the 2004 election: Soros was behind the push for the McCain-Feingold Bipartisan Campaign Reform Act of 2002, which was intended to ban “soft money” contributions to federal election campaigns. While banning donations directly to a national political organization such as the DNC or RNC, no such restrictions exist on soft money donations to 527 organizations such as Critics say this allowed Soros to gain control over the Democrat party through his large donations.

Now President Obama is working to regulate hedge funds and increase taxes on investment income. Investment income of hedge funds, currently taxed at 15% capital gains rate, could incur tax as high as 39.5%. It’s part of Obama’s plan to overhaul America’s financial regulatory systems. The risk in taxing hedge fund managers is that it is fairly easy to push them abroad and lose all the taxes.

What is the bottom line for George Soros? Which passion will he sacrifice, wealth or the liberal agenda? Most likely he will use his financial genius to make more billions while continuing to support the Democratic Party. He’s an ultra-liberal who wants control over American politics AND world financial systems.

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