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
Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected.
The sovereignty of states must be subordinated to international law and international institutions.
The main obstacle to a stable and just world order is the United States.
Market fundamentalists recognize that the role of the state in the economy is always disruptive, inefficient, and generally has negative connotations. This leads them to believe that the market mechanism can take care of all the problems.
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.
This reorganization took place in the full glare of publicity and involved the departure of a large number of employees. Inevitably this gave rise to rumors ... but in fact everything went according to plan,
This segment has considerable momentum and people are not ready to jump ship as long as prices are rising,
As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.
but recently we have seen financial markets sometimes move more like a wrecking ball, knocking over one economy after another.
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.
So I think what needs to happen is he needs to be removed from power,
I see tremendous imbalance in the world. A very uneven playing field, which has gotten tilted very badly. I consider it unstable. At the same time, I don't exactly see what is going to reverse it.
Throughout the 19th century, when there was a laissez-faire mentality and insufficient regulation, you had one crisis after another. Each crisis brought about some reform. That is how central banking developed.
Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.