A bit about Soros

If you haven’t lived through the Asian Financial Crisis and the British Black Wednesday, you would find it hard to imagine how just one man can cause the grief of billions of people. 

The storyline is almost Hollywood style; evil rich man single handedly brings doom to the world. It sounds fiction, but the reality is that it is anything but fiction. 

You see, Soros makes his money by shorting the markets. He first determines that bull markets have hit their peaks, and bets against their success. The further a market crumbles, the more money he makes. 

It is quite smart really – it is easier to manufacture bad news than it is good news. Investors react more excitably against loss than they do on profit. 

Unfortunately, nations suffer. 

The Asian Financial crisis led to economic fallout all over Asia. In the month of May in 1998, it sparked mass violence, demonstrations and civil unrest. The riots were triggered by economic problems including food shortages and mass unemployment.

More than a thousand people died in the riots. At least 168 cases of rape were reported. This is what happens when a nation is rocked financially, people take to the streets until a new power arises to return peace. 

To Soros, it is just business. And he makes it a fine art. He sets up philanthropic organisations with questionable objectives. It is almost as if these organisations wanted instability, violence and restlessness. 

If you understood this in the context of a short-seller, you’ll see that it makes perfect sense. Over the last few years, Soros has turned over around US$18b to institutions through his philanthropy, the Open Society Foundations. 

Soros’ foundation now ranks second largest behind the Gates Foundation and he has special interest in media and communications.

In 2016, Beijing declared George Soros an “Enemy of the Chinese People”. This was in response to an open threat/prediction that the Chinese economy would face a “hard landing”. They had a bitter past: Soros once short sold Hong Kong stocks in 1998, forcing Hong Kong to seek Beijing for help. It is only through an injection of $120b of foreign exchange reserves that Hong Kong forced Soros to retreat.

When Soros wants to get involved in your politics, you can be pretty sure that it is for anything but philanthropy. And if you accept his money and collaborate with him in politics, it is in essence treason. 

 

 

 

About the author

Tay Leong Tan

Tay Leong Tan is a collective of 3 writers. Tay, Leong and Tan. (Who were you expecting?!) We are enthusiastic about labour issues, economics and current affairs in particular.

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