In this interview, Soros is treated like the wise man who can be expected to give wise advice to the CNN audience. More about that below.
At about 1:24 you see Soros grin as he describes how he got us all on the hook for bank debt. I keep thinking I am imagining it, but every time I check, that grin is there. (Sometimes I think I see the tips of fangs poking out beyond his upper lip as he grins, but that is probably a mild hallucination brought on by my personal convictions about Soros). Here is what he says:
“You do have the legacy of this large debt, which came from the collapse of the financial system. So it is really the, uh, bank debt that has been taken over by the government. And the only way to work your way out of it, is through growth.”
I’ve bolded the words that Soros speaks as that irrepressible grin breaks across his face. He manages to force it back down. Can’t have the peasants seeing their new master chortling about how easy it was to take possession of them.
We should have let the banks fail. Other banks could have expanded—small banks that didn’t play with leverage like the big banks did. Or we could have simply started new ones. Other companies that had planned wisely could have expanded into banking.
Instead, we are now all debt slaves. Soros says that growth is the only way out, but the debt itself (which he wants to compound with more debt) will never allow that to happen. The only way out of this is default. Otherwise, we will at best spend years in misery and then default anyway. Soros is presenting the road to Greece as the road to our salvation.
And his desire for stimulus and quantitative easing is entirely self-serving. Soros will be in a great position to be near the origination of that new money. He will be able to profit and invest his profits in a way that protects him from inflation. The rest of us will see very little from any such “free money” but we will be the ones with an even greater debt that results from all the new spending.
Why is an extreme leftist and corruptionist like Soros even given a platform? Part of that answer might be found in asking if Soros has ownership of the major news media, but I haven’t researched that enough to know if it matters in this case. But the spokes-model interviewer credits him as making billions from the free market.
But making billions without officially breaking the law doesn’t prove that you are a committed capitalist. It only proves that you are a smart opportunist. Getting to the top and staying on the top might require two completely different environments. An opportunist might use the free market to make money (though many areas of finance have more to do with funding government than truly working in the private sector. But, because he is an opportunist, he might try to game the free market in order to not be threatened by new entrepreneurs and new businessmen.
These robber barons want to own us. Their words are deceptive. Don’t listen to them.