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
There's (a) problem that I think is brewing, and that is the end of the housing boom in the United States and the ability of households to spend more than they earn because the value of their house is rising.
I think the whole idea of eradicating the drug problem is a false idea, ... You can discourage the use of drugs, you can forbid the use of drugs, you can treat people who are addicted to drugs, but you cannot eradicate drugs. Once you accept this point, you may be able to develop a more rational approach to the problem.
We are trying to make the world a better place, but that is not necessarily what we accomplish. Many of the problems which preoccupy us are basically insoluble.
As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.
We have come to realize that a large hedge fund like Quantum Fund is no longer the best way to manage money, ... Markets have become extremely unstable and historical measures of value at risk no longer apply.
Most of the capital (in Indonesia) is in the hands of limited business groups, which don't feel so secure here. Any slightest risk will cause them take their money to Singapore.
I think I lost my touch some time ago. I'm like an aging boxer that should not go into the ring,
The absurdity of its illegality has been clear to me for some time. I learned about pot from my kids and realized it was a lot better than Scotch, and I loved the Scotch. Then I went to my doctor, and he said, 'I'm thrilled. You're drinking too much. You're much better off doing pot than drinking.'
I don't think you will see the Fed jumping to interest rates,
I expect by '07 there will be a significant decline in U.S. consumer spending, and I don't see what will take its place, because it's so important as the motor of the world economy.
So I think what needs to happen is he needs to be removed from power,
I hardly knew the man's name, ... He really invented me. He needed me for his political purposes, so I'm a figment of his imagination.
I give away something up to $500 million a year throughout the world promoting Open Society. My foundations support people in the country who care about an open society. It's their work that I'm supporting. So it's not me doing it.
Up to those amounts the countries concerned would be able to access international capital markets at prime rates. Beyond these, the creditors would have to beware.