With that in mind, is there any wonder why George Soros would tell Bloomberg Television that the debate over spending cuts versus government spending is overblown and that the United States should take on more debt?
During his 15-minute video appearance on Bloomberg Television, Soros made the following points:
- With a growing economy, the United States can tolerate increased debt.
- Only with an economy in recession could too much debt create a debt trap.
- The United States can issue its own currency, and the dollar is quite strong.
- As a result of the strong dollar, there is a danger in pushing budget cuts too far because the dollar can then be endangered.
- Political forces will force the economy back into recession.
- The United States should continue to absorb more debt in order to grow the economy.
- Spending should specifically be used to build infrastructure or improve productivity.
- The U.S. dollar is riskless, but the best way to decrease the future weight of debt is to increase inflation.
Of course, Soros’ assertions on Bloomberg Television are contradictory to statements that Soros has made elsewhere, even as recently as this weekend.
On April 8, George Soros funded an international conference aimed at repeating the 1944 Bretton Woods conference, which ultimately helped to create the World Bank and the International Monetary Fund after World War II.
Scheduled from April 8 to April 11, the conference was held at the Mount Washington Hotel in Bretton Woods, New Hampshire, the same site as the original post-World War II conference.
According to Jerome Corsi of the Media Research Center, “What Soros [wanted] to accomplish is to move along the globalist agenda of replacing the U.S. dollar as the world’s reserve currency, with the goal of diminishing the ability of the United States to set the terms for the global economy.”
A report on the conference issued by the Russian Times this week confirms Corsi’s assessment. According to the report:
One of the main reasons why a lot of these people [present at the conference] are very concerned about the United States’ dollar as the reserve currency stems from the fact that the economy has not rebounded, that unemployment is still high, that Wall Street was bailed out, and that the top 1 percent of the United States are making so much more money while the wages for the middle class and lower class have been stagnated for the last 30 years.
In fact, Robert Johnson, the executive director of the Institute for Economic Thinking, a George Soros think-tank, spoke at the conference and indicated that the prevailing view among the delegates at the conference is that the dollar is struggling.
“The dollar is diminishing in significance, somewhat for natural reasons, because the United States is the smaller proportion of the world economy,” said Johnson.
But didn’t Soros tell Bloomberg Television that the dollar is strong?
Let’s clarify. Soros tells Bloomberg Television that the dollar is “quite strong” and that the United States can afford to take on more debt, while privately working with other financial heavy-hitters to oust the United States from a leading role in the new world order (not that it wants to be there anyway) because the dollar is unstable.
The Russian Times report goes on to talk about what those at the conference perceived to be the dangers of allowing countries like the United States and Western European countries to take the lead: their massive debts. Focusing specifically on the United States, the Russian Times explained:
We also see it in the terms of debt and deficits…Now you see the toll in trillion dollar deficits held by countries like the United States, which is $14 trillion in debt. And you also hear this come in to play when you talk about a crisis in confidence of political leadership, which you just saw in the United States the government come to a near shutdown because it could not get a budget passed and they did it the very last minute, and they cut $38 billion through the rest of 2011. This is nothing to dent the United States deficit problem. The United States runs more than a $1 trillion deficit each fiscal year…which isn’t being dealt with by political leaders.
The very element that makes the United States an unwelcomed leader of the new world order is the same one that Soros was encouraging on Bloomberg Television: massive debt.
Soros is once again playing both sides of the coin and America is the unfortunate victim of that circumstance. What makes the situation even more dire is the understanding that George Soros has proven to be extremely influential over the Obama administration, which means any assertions made by Soros are not ones that should be scoffed at or ignored.
It’s worth mentioning that attendees at Soros’ conference this weekend emphasized the importance of dealing with climate change and making the green transition.
Likewise, Gerald Epstein, Professor and Chair of Economics at the University of Massachusetts at Amherst, said that countries entering into the new world order must be prepared to take drastic measures to handle the global financial crisis, including redistribution.
“We need global cooperation to get us out of that current crisis, but also to help us to make a transition to a new type of economy where power is more widely dispersed around the world,” said Epstein.
Alas, we come to some of the more honest goals of George Soros.
Is it any wonder conservative pundit Glenn Beck refers to him as “spooky dude”?