The Views of George Soros - Term Paper Example

George Soros George Soros is a Hungaria-American investor, philanthropist and a business magnate born on 12th August 1930. He is the chairman of the Soros Fund Management and well known as “the man who broke the Bank of England” due to his 1billion dollars in investment profits during the 1992 Black Wednesday UK currency crisis. He is well-known for associating the progressive-liberal political cause. Between 1979 and 2011, he gave away more than 8 billion dollars to causes concerning the human rights, education as well as public health. We find that he played an important role in the peaceful changeover to entrepreneurship from collectivism in Hungary and later provided one of the Europes biggest higher education donation to Central European University in Budapest. He is also the chairman of the Open Society Foundation. This paper discusses how he affected the British pound, his social, economic and political views as well as how he is affecting our nation. George Soros was dubbed as “the man who broke the Bank of England”. Around 1997, the treasury in the United Kingdom estimated the cost of Black Wednesday at around ?3.4 billion. Temple (p. 67) asserts that worldwide macrohedge funds seems to have a large amount of investor capital to execute their macroeconomic strategies. However, they may put in influence to increase the size of their macro bets resulting to greatest alert as well as publicity in the financial markets. The best recognized of the hedge funds as Temple (p. 67) says was the Quantum Hedge Fund managed by George Soros that made significant profits in 1992 by gambling that the British pound would diminish. At the same time, this fund was accused of contributing to the “Asian Contagion” in the reduction of 1997 when Thailand lessened its currency triggering a domino effect in the movement of the currency through the Eastern side of the Asian continent. Recently, global macrohedge coffers have fallen on hard eras because they were hurt by the Russian bond default in August 1998 and the bursting of technology bubble in March 2000 resulting to great losses for the global macrohedge funds (Temple p. 67). Again, as indicated above, the international macrohedge funds had the largest asset command of any hedge fund strategy. The ability to invest widely across moneys, financial markets, commodities, topographical limits as well as time districts is a two-edged blade. However, Temple (p. 67) adds that it allows global macrohedge funds the broadest cosmos in which to tool their plans. On the other hand, he says that it absences emphasis. As a lot of official investors have enthused into the the hedgerow fund place hence they have demanded greater asset focus different from free asset reign. As a person who supports democracy as well as open societies, George Soros is usually asailed by those trying to redirect his views through distributing deceptive or even information that seems to be imprecise. In terms of religion, we find that Soros gives respect to all faiths as well as religious does. He believes that those who have faith and faith communities contribute to the understanding of the public of pressing issues socially and most of the time add a principled, moral aspect towards debates that are too often dominated by those people who play politics, statistics and polling. On the other hand, being a philanthropist, the greatness as well as topographical scope of charitable activities of Soros are unprecedented. Upto this moment of time via the Open Society Foundations, he has donated more than $7 billion. It funds very many initiatives worldwide to push for education, fairness, the growth of business, public health and self-governing media. George Sors has a lot of political views. He believes that revolutions are actually undermining and are unnecessarily dangerous. His work focuses on supporting organizations as well as government that gives protection on the rights of the citizens and give feedbacks to their wants. He again champions open civilizations under the confidence that free exchange of thoughts and information make rebellion needless, producing peaceful communities as well as good government rules. In 2003, George Soros’s chief priority was to compete with George W. Bush efforts to win another term as the president of the United States. This is because he thought the policies of President Bush were dangerous to America and the rest of the world. Again, in the same year, he wrote The Bubble of American Supremacy, a critique of the philosophy he saw leading the Bush administration, and gave out $27 million to the organizations that also sought a change in the philosophy guiging American rule. Since 2004, he has contributed to Democratic contender for federal, state as well as local office. Again, he has been a donor to the Democratic National Committee, to the Democratic Senetorial Campaign Committee ans well as to the Democratic Congressional Committee. The contributions have merely been made according to all pertinent laws and guidelines and are mostly a matter of public record. However, since 2004, Gerorge Soros has given support to organizations that involve themselves in education, voter registration and turn out. He is most known to be a funder of America ballots and was an early follower of efforts to advance and improve the progressive usage of data for electoral and advocacy purposes in organizations. He has been a great contributor to the voter education as well as outreach efforts of a lot of progreesive administrations. Dreier, (p. 25) states that today, under the leadership of Soros, Neir and Halperin are very hard at work over undermining the war of America in Iraq, an errand to which their experience uniquely fits them. George Soros has warned that the worldwide economic scheme could collapse and riots are on their way on the streets of America insisting that surviving would be a better option than staying rich as the biosphere faces an wicked time and Europe fights a descent into battles and disorder. He actually sees that the euro has to live because the alternative would result to a meltdown that Europe, the earth, can not actually pay for. The condition is about as serious and difficult as he has experienced in his lifetime. Soros adds that now the world is facing a general cutback in the world that is advanced. Soros, known as “the man who broke the Bank of England” after $1 billion he made by the time Britain’s pound was crashing in 1992, gave out more notices as deflationary setting was the best case situation and the worst one being the financial system failing. He views that it is hard to to know when you ca be right simply because of all the problems connected to the prosperous year before this time. He tried comaparing the economic crisis to the Soviet Union failing and added that persons do not comprehend what is going on. He said that a euro failure would actually resuscitate political battles that have over the centuries torn Europe apart increasing the rate of racism. Being known as the New Economic Thinking Co-founder, George Soros states that economic theory needs to be reconsidered from the bottom line. He directly criticizes economist who are tring to come up with theories that look like rules in Newtonian physics, which Soros has since taken as something that can not happen. To make a change, he states that economy needs to examine its own conduct. He adds that new method with a dissimilar way as well as criteria of something that is satisfactory. Again, he concludes that economic thinking is in need to begin speaking real-world rule questions instead of a simple way creating a lot of mathematical reckonings. Soros (p. 155) adds that after September 11, the American public has become more conscious than before that what happens around the globe can affect them in one way or the other. As there are vital external policy selections to be made. Again, it has to be said that the route taken by the U.S government was very successful in that they enjoy economic as well as military point of view (Soros, p. 155 ). However, being in good possession of the main trading currency, Soros (p. 156) states that it is very much in U.S attention to come up with open marketplaces especially financial markets. It is infact the rule that the United States has persued and maybe at times with calamitous effects for countries whose financial systems could nonetheless operate well in a modest setting. In conclusion, we find that Soros is really affecting the United States in one way or the other. If the world no longer used the dollar as the biosphere reserve currency, the demand would actually evaporate and there would be an excess of dollars in the world. Its value would even drop to near zero. Even though he has not failed the dollar by himself, he has shown that he can take advantage over economic instability to get billions as he brings down any currency that he decides to attack. At this moment of time, the U.S should be worried Soros will find a critical kingpin that when dragged, could cause a waterfall that would collapse the dollar. Otherwise as a kingmaker, he played a major role in getting Barrack Obama elected. However, his influence is majorly tied to Europe as nations there, lengthways with the European Eunion accept his brand of Socialism as well as worldwide government more readily there than the majority of persons in the United States. Works Cited Dreier, Peter. "Glenn Beck’s Attacks on Frances Fox Piven Trigger Death Threats." (2011). Soros, George. The crash of 2008 and what it means [electronic resource]: the new paradigm for financial markets. PublicAffairs, 2009. Temple, Peter. The Handbook of Alternative Assets: Making Money from Art, Rare Books, Coins and Banknotes, Forestry, Gold and Precious Metals, Stamps, Wine and Other Alternative Assets. Harriman House Limited, 2010. Read More