Soros: Public Enemy #1 - by Jim O'Neill - The 4 Freedoms Library2024-03-29T02:29:41Zhttp://4freedoms.com/forum/topics/soros-public-enemy-1-by-jim?groupUrl=us&commentId=3766518%3AComment%3A195497&x=1&feed=yes&xn_auth=noSoros NGOs and the education…tag:4freedoms.com,2019-05-13:3766518:Comment:2031752019-05-13T08:23:04.315ZAntonyhttp://4freedoms.com/profile/Antony
<p>Soros NGOs and the education system ; <a href="https://russia-insider.com/en/irreparable-damage-soros-ngos-helped-develop-curricula-former-soviet-states/ri26972">https://russia-insider.com/en/irreparable-damage-soros-ngos-helped-develop-curricula-former-soviet-states/ri26972</a></p>
<p>Soros NGOs and the education system ; <a href="https://russia-insider.com/en/irreparable-damage-soros-ngos-helped-develop-curricula-former-soviet-states/ri26972">https://russia-insider.com/en/irreparable-damage-soros-ngos-helped-develop-curricula-former-soviet-states/ri26972</a></p> George Soros & The 'Busin…tag:4freedoms.com,2019-05-13:3766518:Comment:2030552019-05-13T03:12:23.336ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<div class="block block-core block-page-title-block" id="block-zerohedge-page-title"><h1 class="page-title"><span class="field field--name-title field--type-string field--label-hidden">George Soros & The 'Business' Of Illegal Immigration</span></h1>
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<div id="block-zerohedge-page-title" class="block block-core block-page-title-block"><h1 class="page-title"><span class="field field--name-title field--type-string field--label-hidden">George Soros & The 'Business' Of Illegal Immigration</span></h1>
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<div id="block-zerohedge-content" class="block block-system block-system-main-block"><div class="submission-wrapper"><div class="node__submitted"><div class="submitted-username">by<span> </span><span class="field field--name-uid field--type-entity-reference field--label-hidden"><a href="https://www.zerohedge.com/users/tyler-durden">Tyler Durden</a> </span><span class="field field--name-created field--type-created field--label-hidden">Sun, 05/12/2019 - 09:20</span></div>
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<div class="node__content"><div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><h2><u>AN INTERVIEW WITH FRANCESCA TOTOLO</u></h2>
<blockquote><p><em>“<strong>Never before has a criminal phenomenon enjoyed widespread international support</strong><span> </span>by governments, political parties, religious and civilian organizations, popular opinion, and never before has a sovereign state renounced to exercise control over its borders.”</em></p>
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<p><strong>These opening words by Gianandrea Gaiani are a fitting introduction to Francesca Totolo’s latest book<em><span> </span>Inferno Spa</em>. Gaiani is no stranger to the business of illegal immigration, being an author of several books on the subject. He was interviewed by Gefira in 2017 when the Italian government was then still a center-left pro-migrants coalition. Totolo has agreed to an exclusive interview for Gefira and we recently met her in Florence, where she was presenting her new book.</strong></p>
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<p>Francesca Totolo is a freelance investigative journalist and collaborates with a variety of Italian and international press agencies and websites. Her investigations have been published both in Italy and abroad. We could easily call Totolo a <em>diligent</em> – and outspoken – journalist as her new book, which she wrote with Dante’s <em>Inferno</em> in mind, involves just that: solid, painstaking, diligent research and fact-checking. The result is the equivalent of an encyclopedia of who’s who in the <em>business</em> (Spa is the Italian acronym for joint-stock company, equivalent of the German AG) of the immigrants’ <em>industry</em>, an industry which moves an unending flow of human beings and money.</p>
<p>She has divided her book into different sections, entitling them with some of Dante’s appellatives in his <em>Divine Comedy</em>: first the ferrymen or Charons who deliver thousands of human beings to <em>the other bank</em>, then the hypocritical NGOs followed by the traitors to the country at all levels, sided by the omnipresent politically correct mainstream media and well-funded organizations of all sorts.</p>
<p><strong>All these <em>infernal</em> characters have in the end one Master Mind, who acts like a modern and nefarious Virgil: George Soros and his mind-boggling network.</strong><span> </span>Totolo is ready to point out, at the conclusion of her book, that Soros is himself an actor, albeit of the highest level, lending his face to higher <em>“movers and shakers behind the curtains”</em>, who have already decided that the original European population must be replaced.</p>
<p><strong>GEFIRA:</strong> How long have you been working on this subject and what are your primary sources?</p>
<p><strong>FT:</strong> Actually my interest was sparkled by the initial articles of Gefira (late 2016 – early 2017) that documented without a shred of doubt the smuggling of immigrants. The book is therefore the product of two years’ research. Since then I have been reviewing one by one these NGOs, their websites, and even asking them directly to disclose information, especially about their finances: needless to say I have been faced with the utmost denial, or, at best, with strictly sanitized reports which said nothing about their financial sources. What struck me about some of these NGO websites is that they put themselves above the law, with absolute certainty of impunity.</p>
<p><strong>GE:</strong> What about the so-called mainstream media, the big newspapers: what about their sources when they write about this topic?</p>
<p><strong>FT:</strong> Their main sources are the press releases from the NGOs themselves. Do you need to say any more than that?</p>
<p><strong>GE:</strong> What – in your opinion – do all those NGOs have in common?</p>
<p><strong>FT:</strong> <strong>All those international NGOs such as Avaaz, Oxfam, Amnesty International, Human Rights Watch and many others have certainly one thing in common: their financial source, which is Soros.</strong><span> </span>Their role has been, and continues to be, making the Italian people feel guilty if they don’t accept immigrants: legal or illegal, they must be accepted no matter what. So these NGOs, or modern Charons as I like to call them, have effectively – directly or indirectly – smuggled into Italy something like 700.000 people over the last few years. It must be understood, by all means, that something like this is a planned operation since its very beginning.</p>
<p><strong>GE:</strong> Which is when, in your opinion?</p>
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<p><strong>FT:</strong> <strong>Let me just say that: as early as 2008 the association “carta di Roma” was founded in Rome. It can be considered the first NGO directly financed by Soros in Italy.</strong><span> </span>What is the purpose of this “association of journalists”? To “promote correct information about immigrants, refugees, asylum-seekers in Italy”. Doesn’t that make you inevitably think that Soros knew as early as 2008 what would happen three years later in Libya and was therefore paving the way for a “change of the paradigm”?</p>
<p><strong>GE:</strong> What about the galaxy of Italian NGOs financed by Soros?</p>
<p><strong>FT:</strong> I put them in my book among the traitors to their own people. One of them certainly stands out: ASGI.</p>
<p><strong>GE:</strong> What is ASGI?</p>
<p><strong>FT: I like to call ASGI the judiciary arm of Soros in Italy. ASGI (Associazione Studi Giuridici sull’Immigrazione) works not only to promote new pro-immigrant legislation, but to effectively counteract – by legal means – every law-enforcing measure by the Italian government with a plethora of appeals which are a stranglehold on the judiciary system, rendering it notoriously slow.</strong><span> </span>They even succeeded in passing into law the right for every newborn, regardless of his legal status, to receive an 800-euro bonus from INPS, the Italian welfare agency. They also went so far as to defend in court multiple convicted criminals preventing their deportation to their countries of origin. And, as I have found out, Italian NGOs like ASGI are part of an international network of NGOs such as ENAR.</p>
<p><strong>GE:</strong> What is ENAR?</p>
<p><strong>FT:</strong> ENAR stands for European Network Against Racism, comprising various NGOs and associations. A network which receives funds not just from Open Society but also from the EU and from an American NGO, the NDI (National Democratic Institute), directly financed by the US government through the notorious and omnipresent USAID agency. All these agencies contribute to creating what we could call Orwellian newspeak.</p>
<p><strong>GE:</strong> What do you mean by that?</p>
<p><strong>FT:</strong> <strong>The aforementioned press association “Carta di Roma” now “recommends” that any possible reference to the ethnic origin of a criminal be removed from a published article.</strong><span> </span>As a journalist, you could be now facing even criminal charges for using words such as “clandestine” or “Gipsy”, and the sole mentioning of the nationality of a criminal is “highly discouraged”. All of which is the creation and enforcing of newspeak.</p>
<p><strong>GE:</strong> Newspeak that has to be implemented by the press and by compliant politicians devoted to the cause. Which Italian politicians do you name in your book?</p>
<p><strong>FT:</strong> I could not start this list without naming Emma Bonino. She can be considered by all means Soros’s right-hand agent in Italy. She has founded “Più Europa” (more Europe), a party which receives direct funding from Open Society. It speaks volumes.</p>
<p><strong>GE:</strong> What about former prime ministers such as Matteo Renzi?</p>
<p><strong>FT:</strong> While conducting research with Luca Donadel, another investigative journalist, I made an interesting discovery of a 2015 secret deal that Renzi in his capacity as PM of the Italian government made with Ireland and Malta, and which was prolonged by his successor Gentiloni. It lasted, for what we have been able to find out, at least until 2017. It was called operation <em>Pontus</em>.</p>
<p><strong>GE:</strong> <em>Pontus</em> reminds us vaguely of a bridge, doesn’t it?</p>
<p><strong>FT:</strong> A bridge operated by the Irish Navy with at least six different military ships and most likely paid – unknowingly – by the Italian taxpayers! This discovery can be dated back to the summer of 2017 when, together with Donadel, I noticed an Irish military vessel that was calling on a regular basis at Sicilian ports. What made us suspicious of all this was the fact that the Republic of Ireland was at that time no part of Operation <em>Frontex</em>, the Italian coordinated EU SAR (Search and Rescue) task force. This activity was not mentioned at all by the Italian press altogether. The Irish did, however, provide an answer to our enquiries, without any reluctance.</p>
<p><strong>GE:</strong> And the answer was?</p>
<p><strong>FT:</strong> That the Irish Navy was indeed engaged in SAR operations under a bilateral agreement with the Italian government signed in May 2015, then renewed in 2016 and 2017. The official statement released by the Irish Department of Defence made clear that the Irish Navy was operating in strict collaboration with the Italian authorities.<span> </span><strong>Then suddenly the Irish became tight-lipped: they stopped answering my inquiries about the financing of this somewhat secret operation. Why this sudden reticence? My guess is that Renzi and Gentiloni had <em>their own</em> SAR operation financed by the unaware Italian taxpayers, and the Irish felt uneasy about disclosing what was really going on.</strong><span> </span>It later turned out that this was not the only secret operation conducted by the Italian government.</p>
<p><strong>GE:</strong> What else was going on?</p>
<p><strong>FT:</strong> In July 2018 the leader of the opposition to the Maltese government, Arian Delia, revealed the existence of a secret deal dating back to 2014 between Renzi and Malta’s PM Joseph Muscat. Delia mentioned nothing less than a contract between the two: Malta would grant Italy oil exploitation rights in Maltese waters in exchange for not allowing SAR vessels to unload immigrants in Maltese ports.</p>
<p><strong>GE:</strong> Any comments on this from the two governments?</p>
<p><strong>FT:</strong> None so far.</p>
<p><strong>GE:</strong> What about other Soros-friendly Italian politicians worth mentioning?</p>
<p><strong>FT:</strong> <strong>Emma Bonino with her decades-long friendship with Soros actually opens quite a long list.<span> </span></strong>There are at least fourteen Italian members of the European parliament classified as Open Society’s “reliable allies”. This was made public by hackers who rummaged Open Society’s server. Then Soros can always count on “old buddies” in Italian politics such as Romano Prodi, who in 1995 went so far as having the University of Bologna confer an honorary degree in Economic Sciences on Soros, a man who had pocketed only 3 years earlier an equivalent of today’s 8 billion euro speculating against the Italian lira! In the following – 1996 – year Prodi became prime minister and in 1999 president of the EU commission. But, of course, these are just mere coincidences.</p>
<p><strong>GE:</strong> Last but not least. May we have your opinion on the current events in Libya and their potential danger for a new wave of migrants to Europe via Italian shores?</p>
<p><strong>FT:</strong> What should make every Italian worry about the situation in Libya is that it resembles dramatically that of 2011: a divided Italian government unable to make any real mark on the international scene, a variety of countries always ready to maneuver against Italy for their own national interests.</p>
<p><strong>GE:</strong> Who stands out among these countries?</p>
<p><strong>FT:</strong> France, no doubt. France is certainly not willing to lose any of her economic interests it has in Libya. France effectively removed Qaddafi in a joint operation with the US in 2011, which led to the complete destabilization of the country and the consequent biblical mass migration of sub-Saharan Africans. It may happen again if Libya is thrown into a full-scale civil war. There are unconfirmed reports of numbers such as 800.000 people ready to get on the move toward Europe. I have reports that the same obsequious NGOs which I mentioned in the book are pressuring for the opening of “humanitarian corridors” to Europe treating any immigrant as a “refugee”. The situation is indeed volatile and we must hope that the current Italian government will remain steady on its course of keeping the ports closed.</p>
<p><strong>GE:</strong> As always, there are plenty of sharks out there ready to make their best fishing in murky waters.</p>
<p><strong>FT:</strong> Indeed.</p>
<p><a href="https://www.zerohedge.com/news/2019-05-12/george-soros-business-illegal-immigration" target="_blank" rel="noopener">https://www.zerohedge.com/news/2019-05-12/george-soros-business-ill...</a></p>
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</div> Human trafficking charges dro…tag:4freedoms.com,2018-05-11:3766518:Comment:1954972018-05-11T20:09:33.451ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<h1>Human trafficking charges dropped against NGOs after Soros-backed plea</h1>
<p class="ingress">A criminal court on the Greek island of Lesvos has acquitted five foreign NGO workers who were facing charges of human trafficking.…</p>
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<h1>Human trafficking charges dropped against NGOs after Soros-backed plea</h1>
<p class="ingress">A criminal court on the Greek island of Lesvos has acquitted five foreign NGO workers who were facing charges of human trafficking.</p>
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<div id="art-top"><div id="art-meta"><p class="art-datum">Published: May 10, 2018, 8:59 am</p>
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<div class="post-content"><p>Three Spanish firemen, members of the NGO<span> </span><em>Proem-Aid</em>, and two Danes,<span> </span><a href="http://teamhumanity.eu/">members</a><span> </span>of the NGO<span> </span><em>Team Humanity</em>, were first arrested by port authority staff on January 14, 2016 at sea between Greece and Turkey.</p>
<p><em>Proem-Aid</em>, from Seville and SMH from Gipuzkoa work together during summer in the “Mediterranean death corridor” off the Libyan coast to bring migrants to Europe.</p>
<p>The lead prosecutor had proposed they be found guilty, but the court ruled that the five had not committed the crimes they had been charged with. The Greek judge ordered that they be allowed to leave the country, and have all guarantee deposits returned to them.</p>
<p>Their trial attracted the interest of European media and was attended by observers from every Spanish party, while the interior minister of the autonomous region of Andalusia testified as witness in their defense, Greek news agency AMNA reported.</p>
<p>Testimonies in their defense were also heard from Lesvos SYRIZA lawmaker Giorgos Pallis, an NGO captain of a rescue vessel together with an independent volunteer.</p>
<p>Supporters of the NGOs broke into applause after the ruling. Earlier in the day, Amnesty International had issued a scathing condemnation of the case brought against the alleged human traffickers in Greece.</p>
<p>But a huge donation from an organisation funded by the billionaire George Soros helped boost Amnesty International operating surplus by 70 per cent in at least one country this year.</p>
<p>There has been a stand-off between the Irish Standards in Public Office Commission (Sipo) and Amnesty after a ruling that the funding by Soros was in breach of the 1997 Electoral Act. The legislation bans overseas donations of more than €100 from third party organisations for “political purposes”. The funds came from the Open Society Foundations (OSF).</p>
<p>In a letter, Amnesty campaign chief Maria Serano said the three Spanish firemen were on Lesvos to put their skills to use and save children, women and men from drowning. The NGOs’ efforts to save lives at sea should be praised and supported, she added.</p>
<p>“This is a strong signal to other NGOs and just people working for humanity,” one of the Danish defendants, Salam Aldeen, the founder of<span> </span><em>Team Humanity</em>, told the New York Times after the verdict. “Saving lives is not a crime, rescuing people is not a crime.”</p>
<p>The other “Dane”, Mohammed el-Abassi, who also worked for<span> </span><em>Team Humanity</em>, volunteered with the three Spanish firefighters. Together they faced as many as 15 years in prison.</p>
<p>Verónica Pérez, a Spanish Socialist politician who had also travelled to Greece, told the NYT: “Humanitarian aid should never be condemned or sentenced but instead the opposite: It should be valued.”</p>
<p>Helping migrants cross the Aegean Sea from Turkey into Greece, is peddled as a “humanitarian effort”, but these actions have real demographic and political implications for the nations that end up receiving the migrants.</p>
<p>The acquittal was made possible because of the intervention by two different European governments and at least one international “humanitarian” organisation with Soros’ backing.</p>
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<div id="post-author"><p class="skrib-namn"><a href="http://freewestmedia.com/2018/05/10/human-trafficking-charges-dropped-against-ngos-after-soros-backed-plea/" target="_blank">http://freewestmedia.com/2018/05/10/human-trafficking-charges-dropped-against-ngos-after-soros-backed-plea/</a></p>
</div> tag:4freedoms.com,2018-03-05:3766518:Comment:1942722018-03-05T11:25:00.668ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<iframe width="560" height="315" src="https://www.youtube.com/embed/hGY4gXchv6E?rel=0&wmode=opaque" frameborder="0" allowfullscreen=""></iframe>
<iframe width="560" height="315" src="https://www.youtube.com/embed/hGY4gXchv6E?rel=0&wmode=opaque" frameborder="0" allowfullscreen=""></iframe> Son of Soros ; http://freebea…tag:4freedoms.com,2017-01-15:3766518:Comment:1850412017-01-15T11:42:27.777ZAntonyhttp://4freedoms.com/profile/Antony
<p>Son of Soros ; <a href="http://freebeacon.com/politics/soros-son-quietly-steps-major-liberal-donor/" target="_blank">http://freebeacon.com/politics/soros-son-quietly-steps-major-liberal-donor/</a></p>
<p>Son of Soros ; <a href="http://freebeacon.com/politics/soros-son-quietly-steps-major-liberal-donor/" target="_blank">http://freebeacon.com/politics/soros-son-quietly-steps-major-liberal-donor/</a></p> Soros & Milliband ; http:…tag:4freedoms.com,2017-01-14:3766518:Comment:1851542017-01-14T16:28:21.459ZAntonyhttp://4freedoms.com/profile/Antony
<p>Soros & Milliband ; <a href="http://www.breitbart.com/london/2017/01/14/ngo-boss-criticises-us-asylum-vetting-tells-europeans-take-fair-share/" target="_blank">http://www.breitbart.com/london/2017/01/14/ngo-boss-criticises-us-asylum-vetting-tells-europeans-take-fair-share/</a></p>
<p>Soros & Milliband ; <a href="http://www.breitbart.com/london/2017/01/14/ngo-boss-criticises-us-asylum-vetting-tells-europeans-take-fair-share/" target="_blank">http://www.breitbart.com/london/2017/01/14/ngo-boss-criticises-us-asylum-vetting-tells-europeans-take-fair-share/</a></p> Hungary Looks to 'Sweep Away'…tag:4freedoms.com,2017-01-14:3766518:Comment:1849402017-01-14T12:32:23.738ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<p>Hungary Looks to 'Sweep Away' Soros-Linked Organisations</p>
<p><a href="http://www.breitbart.com/london/2017/01/12/hungary-set-ban-soros-linked-organisations/" target="_blank">http://www.breitbart.com/london/2017/01/12/hungary-set-ban-soros-linked-organisations/</a></p>
<p>Hungary Looks to 'Sweep Away' Soros-Linked Organisations</p>
<p><a href="http://www.breitbart.com/london/2017/01/12/hungary-set-ban-soros-linked-organisations/" target="_blank">http://www.breitbart.com/london/2017/01/12/hungary-set-ban-soros-linked-organisations/</a></p> Hungary Plans to Crack Down o…tag:4freedoms.com,2017-01-13:3766518:Comment:1852402017-01-13T12:04:05.805ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<div class="lede-text-only lede"><div class="lede-text-only__container"><div class="lede-text-only__content"><h1 class="lede-text-only__hed"><span class="lede-text-only__highlight">Hungary Plans to Crack Down on All Soros-Funded NGOs</span></h1>
<address class="lede-text-only__byline">by Zoltan Simon 10 January 2017, 16:44 GMT10 January 2017, 17:39 GMT…</address>
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<div class="lede-text-only lede"><div class="lede-text-only__container"><div class="lede-text-only__content"><h1 class="lede-text-only__hed"><span class="lede-text-only__highlight">Hungary Plans to Crack Down on All Soros-Funded NGOs</span></h1>
<address class="lede-text-only__byline">by Zoltan Simon 10 January 2017, 16:44 GMT10 January 2017, 17:39 GMT</address>
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<li class="abstract__item"><div class="abstract__item-text">Ruling Fidesz party vice president pledges to ‘sweep out’ NGOs</div>
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<li class="abstract__item"><div class="abstract__item-text">Premier Orban, Trump backer, vowed to build ‘illiberal state’</div>
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<div class="body-copy"><p>Hungary plans to crack down on non-governmental organizations linked to billionaire George Soros now that Donald Trump will occupy the White House, according to the deputy head of Prime Minister Viktor Orban’s party.</p>
<p>The European Union member will use “all the tools at its disposal” to “sweep out” NGOs funded by the Hungarian-born financier, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday. No one answered the phone at the Open Society Institute in Budapest when Bloomberg News called outside business hours.</p>
<p><span>See also:</span> <a href="https://www.bloomberg.com/politics/articles/2017-01-11/soros-group-to-stay-in-hungary-despite-trump-inspired-crackdown" target="_blank">Soros Group to Stay in Hungary Despite Trump-Inspired Crackdown</a></p>
<p>“I feel that there is an opportunity for this, internationally,” because of Trump’s election, state news service MTI reported Nemeth as saying. Lawmakers will start debating a bill to let authorities audit NGO executives, according to parliament’s legislative <a href="http://www.parlament.hu/documents/10181/56621/Tvalk_program_2017_tavasz.pdf/77d69862-7613-4fe1-a490-d15975f5e81f" title="Link to 2017 Hungarian legislative agenda" target="_blank" rel="nofollow noopener">agenda</a>.</p>
Orban, the first European leader to <a href="http://www.bloomberg.com/news/articles/2016-11-25/trump-said-to-invite-black-sheep-hungarian-premier-to-u-s" title="Hungary’s Orban Says Trump Invited Him to U.S. to Reset Ties (3)" target="_blank">publicly back</a> Trump’s campaign, has ignored criticism from the European Commission and U.S. President Barack Obama’s administration for building a self-described “<a href="http://www.bloomberg.com/news/articles/2014-07-28/orban-says-he-seeks-to-end-liberal-democracy-in-hungary" title="Orban Seeks End to Hungarian Liberal Democracy as Russia Eyed" target="_blank">illiberal state</a>” modeled on authoritarian regimes including Russia, China and Turkey. In 2014, Orban personally ordered the state audit agency to probe foundations financed by Norway and said that civil society groups financed from abroad were covers for “paid political activists.”<br />
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<div class="news-figure-caption-text caption"><p>Hungarian Prime Minister Viktor Orban.</p>
<p>Photographer: Jack Taylor/Getty Images</p>
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<p>Orban and his administration have frequently singled out NGOs supported by Soros, a U.S. Democratic Party supporter with a wide network of organizations that promote democracy in formerly communist eastern Europe.</p>
<h3>‘Power Structure’</h3>
<p>Trump also accused the 86-year-old billionaire of being part of “<a href="http://www.bloomberg.com/politics/articles/2016-11-07/one-day-out-clinton-focuses-on-gound-game-trump-on-enthusiasm" title="One Day Out, Clinton Focuses on Turnout, Trump on Enthusiasm (3)" target="_blank">a global power structure</a> that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.”</p>
<p>In a <a target="_blank" rel="nofollow noopener">pre-election commercial</a>, he showed images of Soros along with Federal Reserve Chair Janet Yellen, and Goldman Sachs Group Inc. CEO Lloyd Blankfein, all of whom are Jewish. The Anti-Defamation League criticized the ad for touching on “subjects that anti-Semites have used for ages.”</p>
<p><a href="https://www.bloomberg.com/news/articles/2017-01-10/trump-s-win-prompts-hungarian-call-for-crackdown-on-soros-groups" target="_blank">https://www.bloomberg.com/news/articles/2017-01-10/trump-s-win-prom...</a></p>
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</div> How Soros made £3B from the B…tag:4freedoms.com,2016-08-19:3766518:Comment:1823772016-08-19T02:44:32.645ZAlan Lakehttp://4freedoms.com/profile/AlanLake
<p><span style="text-decoration: underline;"><strong>How Soros made £3B from the Bank of England on Black Wednesday</strong></span></p>
<p><span><a href="http://www.forbes.com/sites/steveschaefer/2015/07/07/forbes-flashback-george-soros-british-pound-euro-ecb/#3d4ae05e3cef" target="_blank">http://www.forbes.com/sites/steveschaefer/2015/07/07/forbes-flashba...</a></span></p>
<p><strong>How The Market Overwhelmed The Central Banks</strong></p>
<p>November 9, 1992: By Thomas Jaffe and Dyan…</p>
<p><span style="text-decoration: underline;"><strong>How Soros made £3B from the Bank of England on Black Wednesday</strong></span></p>
<p><span><a href="http://www.forbes.com/sites/steveschaefer/2015/07/07/forbes-flashback-george-soros-british-pound-euro-ecb/#3d4ae05e3cef" target="_blank">http://www.forbes.com/sites/steveschaefer/2015/07/07/forbes-flashba...</a></span></p>
<p><strong>How The Market Overwhelmed The Central Banks</strong></p>
<p>November 9, 1992: By Thomas Jaffe and Dyan Machan</p>
<p><em>Here’s one for the “Guinness Book of World Records”: Though the world is chock-a-block with billionaires, <span>George Soros</span> may be the first person to make over $ 1 billion in the span of a single month. That’s right: one month.</em></p>
<p>SEPTEMBER 1992 was a month international money managers won’t easily forget. Especially <span>George Soros</span>, the legendary chairman of the Quantum group of funds. <span>Soros</span> and clients of his four Netherlands Antilles-domiciled pools cleared a cool $ 1.5 billion in just one month as a result of the upheaval in Europe’s markets. Nor is that all the <span>Soros</span> crowd has made this year: Between the end of August and earl October the new asset value of his flagship $ 3.3 billion (assets) Quantum Fund rose 31%, and it is up 51% year-to-date. As of mid-October his assets under management had swelled to $ 7 billion.</p>
<p>There were other big winners in the currency turmoil that toppled the pound sterling, the lira and other soft European currencies and humbled the central banks of Europe. The big winners include Bruce Kovner of Caxton Corp. and Paul Tudor Jones of Jones Investments. Kovner’s funds made an estimated $ 300 million, increasing assets to about $ 1.6 billion; Jones’ funds were up some $ 250 million, to $ 1.4 billion in assets.</p>
<p>The month of wild trading and sheer excitement that wrecked the European Exchange Rate Mechanism were also good times for leading U.S. banks with big foreign exchange operations, especially Citicorp, J. P. Morgan, Chemical Banking, Bankers Trust, Chase Manhattan, First Chicago and BankAmerica. Together, in the third quarter, they netted before taxes over $ 800 million more than what they normally earn in a quarter from trading currencies.</p>
<p>What did these people do to make so much money? They bet on the inevitable. They bet that the pound and the other weaker European currencies were overpriced against the deutsche mark. They bet that the politicians and the central banks could not much longer maintain artificially high exchange rates in the interests of European unity.</p>
<p>Europe’s Exchange Rate Mechanism was set up in 1979 by the then-members of the European Economic Community to keep the various European currencies relatively stable against one another. Relatively narrow fixed trading ranges were established within which the prices of 11 European currencies were supposed to fluctuate. But the system could work only if the various countries coordinated their economic policies. In one nation had, say, higher inflation than another, there would be great strain on the system. Differences in interest rates also would strain the system. When differences in interest rates and inflation rates among the 11 got out of line, the central banks had to intervene to buy and thus support the weakening currency against speculators and currency hedgers.</p>
<p>In former times, powerful central banks could usually frustrate speculators. They did so by simply buying massive amounts of the weaker currency and flooding the market with the stronger currency. But times are changing. While the central banks can mobilize tens of billions of dollars, trading in foreign currency markets now runs to a trillion dollars a day.</p>
<p>Andrew Weisman, director of currency fund management for French bank Credit du Nord, makes no apologies for the speculative operations mounted by his and other banks against the fixed rates. “The central banks brought September’s debacle upon themselves,” he asserts. Why does he say this? Because the exchange rates they were defending may have made political sense for the European leaders committed to the European Community but no longer made any economic sense.</p>
<p><span>Soros</span> and the others who won big when the market overwhelmed the banks were mostly involved in one variation or another on a basic technique: Go short the weakest currencies. Going short a currency can be done in a number of ways. The simplest is simply to borrow money, say, Italian lire, and convert the borrowed money into, say, deutsche marks at the fixed rates. Then you wait for the lira to drop sharply against the DM, buy in the now cheaper lira to repay your debt and pocket a lot of extra deutsche marks.</p>
<p>In September the lira was trading at 765 lire to the mark. Four weeks later it took 980 lire to buy a single DM. A speculator who had performed this operation would have made a profit equal to 28% of the borrowed sum.</p>
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<p>But his profit would have been much more than 28%. Speculators with substantial credit lines like <span>Soros</span> can borrow on a margin of 5% and get 20-to-1 leverage. That means you can borrow $ 1 billion for speculation by putting up just $ 50 million in cash. The result: Instead of having made 28% on your lira bet, you would have made 560%, or $ 280 million.</p>
<p>There are other ways, of course, to play the currency markets: through futures and options, for example. <span>Soros</span> actually evolved a complex play.</p>
<p><span>George Soros</span> generally avoids the press, and in this moment of great triumph, he is as elusive as ever. But it is clear that he had concluded the European central banks were holding lousy hands in their game against the speculators and hedgers. That’s why he was willing to bet the ranch.</p>
<p>Though <span>Soros</span> would not talk with FORBES, his spokesman did. He told us <span>Soros</span> has expected financial turmoil in Europe ever since the Berlin Wall collapsed in November 1989, leading to the reunification of Germany. These events, thought <span>Soros</span>, would doom the Exchange Rate Mechanism.</p>
<p>A <span>Soros</span> spokesman explains: “To have one [pan-European] currency and make it stick, you need one economy. But when one country was booming because it had essentially done a leveraged buyout of East Germany, while the others were in a recession, this made it inappropriate for the others to rely on Germany’s monetary policy in trying to maintain their own currencies.”</p>
<p>After German reunification, in <span>Soros’</span> view, it was only a matter of time before the European Exchange Rate Mechanism came unglued.</p>
<p>By this year it was clear to just about everyone that some European currencies — the British pound and Italian lira, for example — were fundamentally overvalued in relation to stronger ones such as the deutsche mark and French franc. As Britain and Italy struggled to make their currencies attractive, they were forced to maintain high interest rates to attract foreign investment dollars. But this crimped their ability to stimulate their sagging economies. While the British and Italians tried to deal with weak economies, Germany embarked on a policy of trying to restrain its own economy, overstimulated by the spending on eastern Germany.</p>
<p>There were plenty of players beside <span>George Soros</span>betting against the central banks and the ERM. Foreign exchange traders at money center banks and investment banks like Goldman, Sachs are constantly aware of what is happening in the international money markets. When large institutions, mutual funds and multinational corporations that do massive currency hedging to protect their profits started selling the weaker European currencies in September, the traders immediately picked up on the jump in volume they were handling for their customers. They could easily estimate just how great the selling pressure was and how much the central banks would have to spend to prop up those currencies. Then, the banks and investment houses got into the game for their own accounts.</p>
<p>It was obvious, for instance, that the Bank of England wouldn’t be able to support the pound successfully, so the banks started to use their own capital to heavily sell the currency short. Some of the more aggressive, like Citicorp and Bankers Trust, made roughly an extra $200 million apiece pretax from the trading turmoil in September. And it may have been even more. But the magnitude of these gains won’t show up in the third quarter’s results. When trading profits are that large, the banks often roll them over into succeeding quarters to minimize their tax bill.</p>
<p>We mentioned that <span>Soros</span> played a complex game. Here’s how it went. <span>Soros</span> expected the following: the breakdown of the ERM and a substantial realignment of European currencies; a dramatic drop in European interest rates; a decline for European stock markets.</p>
<p>So, rather than simply shorting the weak currencies, he also placed simultaneous bets on interest rates and securities markets that would be affected by the currency realignments.</p>
<p>In carrying out this operation, <span>Soros</span> and his aides sold short sterling to the tune of about $ 7 billion, bought the mark to the tune of $ 6 billion and, to a lesser extent, bought the French franc. As a parallel play they bought as much as $ 500 million worth of British stocks even while they were shorting sterling, figuring that equities often rise after a currency devalues. <span>Soros</span> also went long German and French bonds, while shorting those countries’ equities. <span>Soros’</span> reasoning on the French and German markets was that upward valuation was bad for equities but was good for bonds because it would lead to lower interest rates.</p>
<p>“When the Italians finally devalued the lira and the Germans lowered rates slightly,” says the <span>Soros</span>spokesman, “it was almost like we’d been preparing for an exam for six months and now were finally taking our test.”</p>
<p>After the lira was battered, <span>Soros</span> read that Helmut Schlesinger, president of the Bundesbank, had openly stated that Germany’s central bank would not go to the wall for the pound. <span>Soros</span> has said that he saw this as a “clarion call for everyone to get out of sterling.”</p>
<p>Because of his strong credit, <span>Soros</span> was able to maintain all these positions with just $ 1 billion in collateral. He was margined to the eyebrows, but he wasn’t really gambling. “The profits that people like <span>Soros</span> recently made seem astronomical,” says Gilbert de Botton, chief of London’s $ 5-billion-plus (assets) Global Asset Management. “But do not rap them on the knuckles on one of the few occasions where they actually could make money. Even the pros have lost their shirts from time to time because of the absolute power of the central banks.”</p>
<p><span>Soros</span> knew this, but all his experience, all his instincts told him that this time he was betting with odds overwhelmingly in his favor.</p>
<p>Here’s how his leveraged positions worked out: The pound dropped 10%, the mark and franc both rose roughly 7%, the London stock market gained 7%, German and French bonds were up about 3% apiece, and the German and French stock markets briefly rallied, but basically remained flat.</p>
<p>FORBES has learned that since early October <span>Soros</span> has substantially decreased the size of his hedge. He has bought pounds and sold marks to cover most of his short position in sterling. But <span>Soros</span> is still holding on to his British stocks, and continues to be bullish on European bonds. <span>Soros</span> sees interest rates dropping in Europe and thinks that the Continent is headed into a deep recession.</p>
<p>He has taken no pride in being referred to as the man who beat the central banks. One money manager who knows <span>Soros</span> well says: “George actually wants to be perceived as helping central bankers.”</p>
<p>Was betting against them being helpful? In the sense that he was essentially betting on the inevitable, maybe yes.</p>
<p>The volatility in European currencies continues. <span>Soros</span>and other shrewd investor will no doubt continue trying to profit off the turbulence. But it will be a long time before a chance to make a killing like this year’s appears again.</p> Thanks for this link, Paul. …tag:4freedoms.com,2011-05-23:3766518:Comment:545742011-05-23T15:38:19.278ZMatthew Schaeferhttp://4freedoms.com/profile/MatthewSchaefer
<p>Thanks for this link, Paul. I will use it to make more people aware of how dangerous Soros is to the world.<br></br> <br></br> <cite>paul collings said:</cite></p>
<blockquote cite="http://4freedoms.ning.com/forum/topics/soros-public-enemy-1-by-jim?groupUrl=usa2&commentId=3766518%3AComment%3A54539&xg_source=msg_com_gr_forum#3766518Comment54539"><p><a href="http://www.sorosmonitor.com" rel="nofollow" target="_blank">www.sorosmonitor.com</a></p>
<p>There are many sites on soros. Many are…</p>
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<p>Thanks for this link, Paul. I will use it to make more people aware of how dangerous Soros is to the world.<br/> <br/> <cite>paul collings said:</cite></p>
<blockquote cite="http://4freedoms.ning.com/forum/topics/soros-public-enemy-1-by-jim?groupUrl=usa2&commentId=3766518%3AComment%3A54539&xg_source=msg_com_gr_forum#3766518Comment54539"><p><a rel="nofollow" target="_blank" href="http://www.sorosmonitor.com">www.sorosmonitor.com</a></p>
<p>There are many sites on soros. Many are obvious self promotions. If you want to get educated about Soros and his cronies, thi is a good starting place.</p>
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