He was the famous billionaire currency trader who broke the Bank of England and made US$1 billion in 1992. But he was also a strong supporter of Hillary Clinton who eventually lost US$1 billion when the stock market skyrocketed after Donald Trump’s stunning victory. He is, of course, the legendary currency speculator, investor, philanthropist, political activist and author – George Soros.
Like President Donald Trump, the 87-year-old Soros is in Davos, Switzerland, attending the World Economic Forum. But Soros is there this year primarily to unleash attacks on Trump. As a strong supporter of liberalism, globalism and Democratic Party, Soros has gone bonkers and taken the pleasure bashing the U.S. president.
Soros has accused Trump of basically driving the United States to nuclear warwith North Korea. He said during a speech at the World Economic Forum – “The fact of nuclear war is so horrendous that we are trying to ignore it, but it is real. Indeed, the United States is set on a course towards nuclear war by refusing to accept that North Korea has become a nuclear power.”
The chairman of Soros Fund Management said – “This creates a strong incentive for North Korea to develop its nuclear capacity with all possible speed, which in turn may induce the United States to use its nuclear superiority pre-emptively, in effect to start a nuclear war to prevent a nuclear war, obviously a self-contradictory strategy.”
Mr. Soros believes that in order to prevent the end of the world, the U.S. must accept North Korea as a nuclear power, and then cooperate and negotiate with China to establish an alliance that’s better equipped to confront the nation. The billionaire also recommended a “carrot and stick” approach in which North Korea is rewarded for “suspending further development of nuclear weapons.”
Claiming his Open Society Foundations are spending more than half of their budget at home to protect democracy, Soros said he will be mobilizing his own political forces to try to defeat Trump. While consider the Trump administration a danger to the world, Soros thinks it’s a temporary setback – “But I regard it as a purely temporary phenomenon that will disappear in 2020, or even sooner.”
Apparently, George Soros expects a Democratic “landslide” in the 2018 mid-term elections. But his punches didn’t end there. After calling Russian President Vladimir Putin a “dictator” who runs his country like a “mafia state”, Soros accused Trump of trying to do the same – establishing a “mafia state on American soil” that suppresses individual rights.
Fortunately, Soros said, Trump couldn’t fulfil his evil plan because the “constitution and the institutions and a vibrant society won’t allow it.” But Trump wasn’t the only one who suffered the blitzkrieg from Soros. He has also slammed social-media companies Facebook and Google in his speech, comparing them to gambling companies that promote addiction among users.
The money manager, whose past investment included a small stake in both Facebook and Google, criticised both companies for exploiting the data they control and called them a “menace” to society. Soros even predicted that Facebook will “run out of people to convert in less than three years” and subsequently the business could crumble.
While Soros thinks cryptocurrencies or bitcoins are a bubble, surprisingly, he doesn’t see them crashing because of their use by authoritarian regimes in the world. He said – “As long as you have dictatorships on the rise, you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad.”
A strong supporter of European Union, Mr. Soros appears to be still in shock over British’s decision to exit the bloc. He actually still hopes to see the United Kingdom remain a member of the E.U., or eventually rejoin the club. On the future of E.U., Soros said the bloc is “in a revolutionary period” where Russia again has arisen and the EU is in disarray.
But if Soros’ last year predictions in Davos is any indicator, then the world should take comfort that a nuclear war will not happen. Last year, Soros predicted the stock market rally would soon come to an end and a global recession could start due to China’s unsustainable growth rate. None of those happen but instead, the bull is still in charge while the Chinese economy continues to accelerate.