The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

Hedge Fund Billionaire Predicts “Trump Will Fail”

Hedge Fund billionaire George Soros was interviewed on Bloomberg from Davos where the world’s billionaires meet each year. His comments confirmed that he was a “sore loser.”

He reportedly lost $1 BILLION in the market in the Trump rally. No wonder he is angry at Trump. He said this in an interview on Bloomberg TV today:

“Trump is going to fail. Not because of people like me who want him to fail, but….”

Of course, we assume he will probably spend billions to make that happen. But shouldn’t a naturalized American citizen, especially someone who escapes billions in taxes by having some of his hedge funds off-shore, want a US President to succeed?

According to a Bloomberg.com article,

At the end of 2013, Soros—through Soros Fund Management—had amassed $13.3 billion through the use of deferrals, according to Irish regulatory filings by Soros.”

The article said that the tax deferral will end this year and he may face a tax bill of $6.7 billion (with certain assumption, as calculated by a tax partner of Cravath, Swaine & Moore.)

Soros said that Trump stands for the opposite of an “open society, better described as “a mafia state,” or a “dictatorship.”

He continues,

“Trump will divide America. Anyone who disagrees with him is not part of the people.”

“Reproachment between Trump and Putin will put Europe at risk.”

Regarding the future of the EU, he doesn’t think the EU will disintegrate, but there will be great turmoil. He said that the EU was formed under laws of a different time. They can’t apply to the situation of today. They only can be changed by referendum, which has become impossible. Therefore, they must find “round-about’ ways to change the laws, via lawyers who find the loopholes.

He said the EU has become “dysfunctional. This can’t continue like this. The EU has become too complicated. People have become alienated. “

Soros is the founder of the “Open Society Foundation.” According to the website, www.insidephilanthropy.com:

The Open Society Foundations is bigger than you think. In fact, it may be the largest philanthropic organization ever built, with branches in 37 countries. While the Gates Foundation spends more money, OSF has a larger footprint worldwide thanks to its many local offices, including throughout Africa. OSF’s budget will be around $930 million this year—which is substantially more than Ford’s total grantmaking.

That budget is set annually by George Soros, who’s given away nearly $12 billion since he got into philanthropy decades ago. Nevertheless, thanks to his skills in financial markets, Soros—who recently turned 85—is now richer than ever, with a net worth estimated at $26 billion. 

Obviously, he is very dedicated to his agenda. However, even with those immense resources, he failed to get his candidate into the White House. The American people prevailed. Perhaps he will continue to fail in the future.

The country of Hungary, where Soros was born, plans to kick out the Soros organizations. Bloomberg wrote on January 10, headlined:

Hungary Plans to Crack Down on All Soros-Funded NGOs

Hungary plans to crack down on non-governmental organizations linked to billionaire George Soros now that Donald Trump will occupy the White House, according to the deputy head of Prime Minister Viktor Orban’s party.

The European Union member will use “all the tools at its disposal” to “sweep out” NGOs funded by the Hungarian-born financier, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday.

Trump also accused the 86-year-old billionaire of being part of a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.”

Soros is of course free to do with his money what his conscience dictates. His generosity seems boundless. (“NGO” stands for “non-governmental organizations.)

Soros is often mentioned as the person who topples governments, for a profit of course. Hungary doesn’t want such interference. Russia kicked his organizations out several years ago.

Read the full article here: https://www.bloomberg.com/news/articles/2017-01-10/trump-s-win-prompts-hungarian-call-for-crackdown-on-soros-groups