George Soros
George Soros
George Sorosis a Hungarian-American business magnate, investor, philanthropist, political activist and author who is of Hungarian-Jewish ancestry and holds dual citizenship. He is chairman of Soros Fund Management. He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the 30 richest people in the world...
NationalityHungarian
ProfessionEntrepreneur
Date of Birth12 August 1930
CityBudapest, Hungary
Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
It is credit that matters, not money (in other words, monetarism is a false ideology).
The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear.
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.
It is sort of a disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out,
By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.
When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.
Now that I have called you on your false accusation, you are using additional smear tactics.
There is no question that a breakup of the euro would be very damaging, very costly, both financially and politically. And the biggest loss would be incurred by Germany. Germans have to bear in mind that, effectively, they have suffered practically no losses so far. Transfers have all been in the form of loans, and it is only when the loans are not repaid that real losses will be incurred.
Mankind's ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves
Once a trend is established it tends to persist and to run it’s full course.