The billionaire who made all his wealth by betting against national currencies, is known for mouthing progressive platitudes on global forums against nationalistic governments. His esoteric beliefs about so-called open society drives much of political activism and influence.
Jewish billionaire George Soros notorious for meddling in the affairs of elected governments and sponsoring regime change agendas against nationalist governments has hinted at his plans to oust the Modi government in India and bring down the Adani group.
In his speech ahead of the Munich security conference on Thursday, Soros predicted that Prime Minister Narendra Modi’s “stranglehold over the Indian federal will weaken” because of his alleged closeness to Adani, who has been accused by short-seller Hindenburg of stock manipulation.
Soros, in a viral clip is heard saying that PM Narendra Modi is a “close ally” of Adani Group founder-chairman Gautam Adani, and the allegations of stock manipulation will “significantly weaken Modi’s stranglehold over India’s federal government.”
“Modi and business tycoon Adani are close allies. Adani enterprises tried to raise funds in the stock market but failed. Adani is accused of stock manipulation and his stocks have collapsed like a house of cards.”
“This will significantly weaken Modi’s stranglehold on India’s federal government and open the door for much-needed institution reform.”
He said with Modi being weakened, democracy will be revived in India. “I may be naive but I expect democratic revival in India,” he said.
He went on to comment on how the Prime Minister needs to speak up in the Parliament. “Modi is silent on the subject. But he will have to answer questions foreign investors and in the Parliament.”
The Opposition led by Congress has been demanding that Prime Minister Narendra Modi speak up about Adani issue in the Parliament – a demand that has been largely ignored by the ruling government.
Who is Soros?
Soros’ unwarranted comments have raised speculations about his locus standi on the issue. Soros is a well-known Modi hater. In 2020, at Davos conference, an annual junket for the global elite to wine and dine – Soros called Narendra Modi’s democratically elected government “the most frightening setback.”
He is known to have pledged “$1 billion to fund a new university network to tackle the spread of nationalism” at Davos the same year.
Soros projects the image of a philanthropist and supporter of progressive and liberal causes. However, his wealth comes from short-selling and hedge funds.
In the late 1960s, he founded the Quantum Fund, which became one of the most successful hedge funds of all time. He made staggering profits by shorting. In November 1992 he earned more than $1bn and “broke the Bank of England” by betting that the pound was priced too high against the Deutschmark. Soros made $1.5 billion in just a single month by betting the British pound and several other European currencies were priced too richly against the German Deutsche mark. As per Bloomsberg, Soros has a net worth of $8.5 billion.
Soros was the architect of the Asian crisis during the late 90s. The foreign ministers of the 10 ASEAN countries believed that the well-coordinated manipulation of their currencies was a deliberate attempt to destabilize the ASEAN economies. The crisis hit Malaysia, Thailand, Indonesia, South Korea, the Philippines, China, Mongolia, Japan, and Singapore. Malaysian Prime Minister Mahathir Mohamad accused George Soros of ruining Malaysia’s economy with “massive currency speculation”.
His political philanthropy
Currently, the 92-year old Hungarian-America businessman is one of the richest men in the world and one of the most influential philanthropists, who unlike Gates and Zuckerberg doesn’t believe in solving real-world problems but in sponsoring “progressive politics” that would lead to a more open society. He is the founder of Open Society Foundations, that funds groups and individuals that “promote democracy, transparency and freedom of speech.”
Post Cold War, Soros put up his foundations in Czechoslovakia, Poland, Russia, and Yugoslavia. Now, Open Society Foundations are active in more than 120 countries. “The Open Society Foundations, founded by George Soros, are the world’s largest private funder of independent groups working for justice, democratic governance, and human rights,” reads a statement on the website of the Foundation.
He is vocal about his political preferences. He supported the presidential campaigns of Barack Obama, Hillary Clinton and Joe Biden. Soros has spoken against China’s President Xi Jinping, former US President Donald Trump and Turkey’s Recep Tayyip Erdogan.
His foundation funded a website named First Draft News, which was recently in news for being involved in the media’s coordinated efforts to suppress the Hunter-Biden story.
He is known for mouthing progressive platitudes on forums against nationalistic governments. His esoteric beliefs about so-called open society drive much of his political activism and influence.