Billionaire investor and philanthropist George Soros may be cutting back on his gold bets, but he says the precious metal still has some kick to it, as long as conditions like low interest rates prevail.
“The conditions for (high) gold are pretty perfect,” he said during a speech in Toronto Monday evening to accept the Globalist of the Year award from the Canadian International Council.
“The big negative is that too many people know this and a lot of hedge funds are very exposed ... Gold has a tendency to go parabolic,” he said, pointing at its tendency to fall as quickly as it rises.
In fact, gold fell for a third successive day on Tuesday to its lowest level in two weeks as a stronger U.S. dollar kept commodities under pressure, but spot gold was still above $1,300 an ounce.
Soros reduced some of his big bets on gold in the third quarter, trimming positions in miners including Barrick Gold Corp, Great Basin Gold and Newmont Mining. He left large positions in NovaGold Resources and Kinross Gold unchanged.
CHANGING WORLD ORDER
Soros also spoke on the changing geopolitical order, outlining his expectations for a rapid decline of the United States, equalled in speed only by the ascent of China’s economy since the global economic crisis erupted.
China, he told his audience — which included Bank of Canada governors past and present and CEOs from banks and corporate giants like Research In Motion — has been unscathed by the crisis and now has a better working economy and a better working government than the United States.
The present world order is on the brink of breaking down, he said.
“There is now a rapid decline of the United States and a rapid rise of China,” he said. “It is happening very quickly.”
He said that China got to where it is today by looking out for its own interests, but he warned that the Asian powerhouse would have to start considering the needs of others if the new world order is to emerge intact.
“If they persist in their present course, it will lead to conflict,” he said, adding that China’s neighbours are already getting nervous about its rising global influence.
Source: http://www.lfpress.com/money/2010/11/16/16167481.html
Showing posts with label ron paul. Show all posts
Showing posts with label ron paul. Show all posts
Monday, November 22, 2010
Sunday, November 21, 2010
Ireland fears civil unrest as bank crisis deepens
One of Ireland's biggest trade unions warned today that the nation was on the brink of civil unrest as government officials negotiated a multibillion euro bailout for the country's ailing banks.
The Technical Engineering and Electrical Union said further "draconian" public sector cuts of €15bn (£13bn) over four years could lead to street disorder. It urged a campaign of civil disobedience unless the taoiseach, Brian Cowen, calls an immediate election. An emergency cabinet tomorrow will discuss the new round of cuts.
"When the measures being proposed are heaped on top of the €14.5bn cuts already implemented in the last three brutal budgets, life in Ireland will be unbearable," said the TEEU leader, Eamon Devoy. A group of 16 officials from the International Monetary Fund and European Central Bank are staying in Dublin's luxury Merrion hotel, holding talks throughout the weekend with the Irish government and Ireland's central bank. Financial sources told the Observer that a strategy could be announced as soon as Monday to stabilise Ireland's banks.
A first priority is to restore confidence and halt an outflow of cash – Anglo Irish Banks revealed on Friday that customers have withdrawn €13bn of deposits this year. Measures under consideration include hiving off rottenloans into a freestanding "bad bank".
An injection of capital into the banks could be followed by a broader sovereign bailout in the form of a multibillion euro "contingency loan" from the IMF and the ECB. Government sources saidthe loan would be available for Ireland to draw on if it ran out of money from the beginning of 2011. Asked about any preconditions that might be imposed, one senior source within the ruling Fianna Fail party said: "Because it's a loan that we will have to pay back, they won't be seeking anything major in return like higher corporation tax for Ireland."
Ireland's unusually low 12.5% rate of corporation tax, which has lured investment to the country by multinationals such as Google and Microsoft, is a bone of contention among European leaders. France's president, Nicolas Sarkozy, today said he expected Ireland to increase the tax.
"There are two levers to use: spending and revenues," he said at a Nato summit in Lisbon. "I cannot imagine that our Irish friends [would not use] this because they have a greater margin for manoeuvre than others, their taxes being lower than others."
Ireland's European allies fear that without swift action Ireland's debt crisis could become contagious, weakening confidence in Greece, Portugal, Spain and in the euro as a currency. William Hague, Britain's foreign secretary, expressed uncertainty about the future of the single currency – asked on the Today programme whether he felt the euro could collapse, he said: "I very much hope not. Who knows?"
David Begg, general secretary of the Irish Congress of Trade Unions, said the union movement was calling for mass protests on 27 November to "allow ordinary working people to voice their opposition to a policy that could destroy 90,000 more jobs".
Source: http://www.guardian.co.uk/business/2010/nov/20/ireland-union-devoy-bank-crisis
The Technical Engineering and Electrical Union said further "draconian" public sector cuts of €15bn (£13bn) over four years could lead to street disorder. It urged a campaign of civil disobedience unless the taoiseach, Brian Cowen, calls an immediate election. An emergency cabinet tomorrow will discuss the new round of cuts.
"When the measures being proposed are heaped on top of the €14.5bn cuts already implemented in the last three brutal budgets, life in Ireland will be unbearable," said the TEEU leader, Eamon Devoy. A group of 16 officials from the International Monetary Fund and European Central Bank are staying in Dublin's luxury Merrion hotel, holding talks throughout the weekend with the Irish government and Ireland's central bank. Financial sources told the Observer that a strategy could be announced as soon as Monday to stabilise Ireland's banks.
A first priority is to restore confidence and halt an outflow of cash – Anglo Irish Banks revealed on Friday that customers have withdrawn €13bn of deposits this year. Measures under consideration include hiving off rotten
An injection of capital into the banks could be followed by a broader sovereign bailout in the form of a multibillion euro "contingency loan" from the IMF and the ECB. Government sources said
Ireland's unusually low 12.5% rate of corporation tax, which has lured investment to the country by multinationals such as Google and Microsoft, is a bone of contention among European leaders. France's president, Nicolas Sarkozy, today said he expected Ireland to increase the tax.
"There are two levers to use: spending and revenues," he said at a Nato summit in Lisbon. "I cannot imagine that our Irish friends [would not use] this because they have a greater margin for manoeuvre than others, their taxes being lower than others."
Ireland's European allies fear that without swift action Ireland's debt crisis could become contagious, weakening confidence in Greece, Portugal, Spain and in the euro as a currency. William Hague, Britain's foreign secretary, expressed uncertainty about the future of the single currency – asked on the Today programme whether he felt the euro could collapse, he said: "I very much hope not. Who knows?"
David Begg, general secretary of the Irish Congress of Trade Unions, said the union movement was calling for mass protests on 27 November to "allow ordinary working people to voice their opposition to a policy that could destroy 90,000 more jobs".
Source: http://www.guardian.co.uk/business/2010/nov/20/ireland-union-devoy-bank-crisis
Saturday, November 20, 2010
12 Facts That Will Blow Your Mind – Federal Employees And Members Of Congress Are Getting Rich While Those Of Us Who Pay Their Salaries Suffer
Do you remember the days when getting elected to Congress or choosing to work for the government was referred to as "public service"? The idea was that you would be making a sacrifice for the greater good of the country. Well, those days are long gone. Today, getting elected to Congress or working for the federal government is a good way to get rich. Median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009, and yet the personal wealth of members of Congress and the salaries of federal workers (especially at the higher levels) continue to explode. A lot of corrupt politicians and federal fat cats are raking in stunning amounts of cash, and we are the ones paying the bill. There is certainly nothing wrong with making a lot of money, but does it seem right that so many of our "public servants" are getting filthy rich while so many of the rest of us are barely getting by?
Posted below are 12 facts that will blow your mind. Most Americans have no idea just how obscenely wealthy many members of Congress are, and most Americans are totally clueless about how cushy some of these U.S.government jobs are. If there is one place in America where the good times are still rolling (other than Wall Street), it would have to be Washington D.C.
Members of Congress and employees of the government are supposed to work for us. We are the ones who pay their salaries. But today, they are the ones "living the dream" while most of the rest of us scramble just to survive from month to month....
#1 According to an article in the Hill, House Speaker Nancy Pelosi's net worth soared from $13.7 million in 2008 to $21.7 million in 2009.
#2 In 2005, 7420 federal workers were making $150,000 or more per year. In 2010, a whopping 82,034 federal workers are making $150,000 or more per year. That is more than a tenfold increase in just five years.
#3 More than half of the members of the U.S. Congress are millionaires.
#4 The total compensation that the U.S. government workforce is going to take in this year is approximately 447 billion dollars.
#5 Today, all members of Congress earn at least $175,000. This is far, far more than the average American makes.
#6 60 percent of the federal government workforce is represented by labor unions.
#7 The median wealth of a U.S. Senator in 2009 was 2.38 million dollars.
#8 In 2005, the U.S. Department of Defense had just nine civilians earning $170,000 or more. When Barack Obama took office, the U.S. Department of Defense had 214 civilians earning $170,000 or more. In June 2010, the U.S. Department of Defense had 994 civilians earning $170,000 or more.
#9 Insider trading is perfectly legal for members of the U.S. Congress - and they refuse to pass a law that would change that.
#10 According to a recent study conducted by the Heritage Foundation, federal workers earn 30 to 40 percent more money on average than their counterparts in the private sector.
#11 When you factor in such things as retirement andhealth care benefits , the compensation gap between federal workers and private sector employees gets even larger. Just consider the following quote from the Heritage Foundation study mentioned above....
So can the U.S. government continue to afford to shell out nearly half a trillion dollars to federal employees every single year?
Of course not.
The truth is that the U.S. government is flat broke and yet most of our politicians still seem extremely resistant to consider anything that would even slow down the wild spending that has been going on.
So what do we get for the $447 billion that we are spending on federal workers every single year?
Not a whole lot - unless you consider paperwork, bureaucracy and a gigantic pile of ridiculous regulations to be a good thing.
America needs a fundamental shift in attitude. Instead of expecting a "nanny state" to take care of us, we should desperately try to reshape the federal government into a much smaller entity that will finally get off our backs.
We have been living beyond our means for decades, and we cannot afford to pay for this bloated behemoth of a government for much longer.
Hopefully Americans will wake up and do something about this nonsense before it is too late. Because right now the federal government has become an out of control monster that is gobbling up everything in sight.
Posted below are 12 facts that will blow your mind. Most Americans have no idea just how obscenely wealthy many members of Congress are, and most Americans are totally clueless about how cushy some of these U.S.
Members of Congress and employees of the government are supposed to work for us. We are the ones who pay their salaries. But today, they are the ones "living the dream" while most of the rest of us scramble just to survive from month to month....
#1 According to an article in the Hill, House Speaker Nancy Pelosi's net worth soared from $13.7 million in 2008 to $21.7 million in 2009.
#2 In 2005, 7420 federal workers were making $150,000 or more per year. In 2010, a whopping 82,034 federal workers are making $150,000 or more per year. That is more than a tenfold increase in just five years.
#3 More than half of the members of the U.S. Congress are millionaires.
#4 The total compensation that the U.S. government workforce is going to take in this year is approximately 447 billion dollars.
#5 Today, all members of Congress earn at least $175,000. This is far, far more than the average American makes.
#6 60 percent of the federal government workforce is represented by labor unions.
#7 The median wealth of a U.S. Senator in 2009 was 2.38 million dollars.
#8 In 2005, the U.S. Department of Defense had just nine civilians earning $170,000 or more. When Barack Obama took office, the U.S. Department of Defense had 214 civilians earning $170,000 or more. In June 2010, the U.S. Department of Defense had 994 civilians earning $170,000 or more.
#9 Insider trading is perfectly legal for members of the U.S. Congress - and they refuse to pass a law that would change that.
#10 According to a recent study conducted by the Heritage Foundation, federal workers earn 30 to 40 percent more money on average than their counterparts in the private sector.
#11 When you factor in such things as retirement and
"Including non-cash benefits adds to this disparity. The average private-sector employer pays $9,882 per employee in annual benefits, while the federal government pays an average of $32,115 per employee."#12 The personal wealth of members of the U.S. Congress collectively increased by more than 16 percent from 2008 to 2009.
So can the U.S. government continue to afford to shell out nearly half a trillion dollars to federal employees every single year?
Of course not.
The truth is that the U.S. government is flat broke and yet most of our politicians still seem extremely resistant to consider anything that would even slow down the wild spending that has been going on.
So what do we get for the $447 billion that we are spending on federal workers every single year?
Not a whole lot - unless you consider paperwork, bureaucracy and a gigantic pile of ridiculous regulations to be a good thing.
America needs a fundamental shift in attitude. Instead of expecting a "nanny state" to take care of us, we should desperately try to reshape the federal government into a much smaller entity that will finally get off our backs.
We have been living beyond our means for decades, and we cannot afford to pay for this bloated behemoth of a government for much longer.
Hopefully Americans will wake up and do something about this nonsense before it is too late. Because right now the federal government has become an out of control monster that is gobbling up everything in sight.
Thursday, November 11, 2010
Is the World Ready for a New Reserve Currency?
As the G-20 meets to discuss the world's economic problems -- with many of its members unhappy about the Federal Reserve's efforts to stimulate the U.S. economy by boosting its money supply -- ideas are floating around about new monetary systems. For a host of reasons, leaders of other countries would love to free their economies from the stranglehold of the U.S. dollar's influence.
World Bank President Robert Zoellick recently called for the world to index its currencies to gold. In his proposed system, major currencies in the world such as the dollar, the euro, the yen, the pound and the yuan would move towards adopting a modified gold standard. The precious metal would be used as a reference point that would guide currency movements based on market expectations of inflation, deflation and future currency values.
That would be great for those who are holding gold now, because it would boost demand for gold -- thus causing it to rise in price even more. But since there isn't nearly enough physical gold to back all the currencies around the world, returning to thegold standard would cause a massive reduction in the money supply, which would lead to rapid economic contraction.
Zoellick, under a barrage of criticism for the proposal, backpedaled on Wednesday, suggesting he had been misunderstood. "I'm not advocating a return to the 19th century, when money supply was linked to gold," said Zoellick. Good job, Bob.
Introducing the Mondo
The gold standard aside, I'd like to see the world adopt a new reserve currency to supplant the dollar: Call it the Mondo (from the Italian word for world). This new currency would be based on each country's contribution to global GDP. Thus, the more important a country's economy, the bigger that country's influence on the Mondo's value.
In concept, it's fairly simple. The world's GDP is $61 trillion, according to the World Bank, and the Mondo would be based on a weighted basket of securities from each country in proportion to their share of global GDP. The beauty of the Mondo is that it would allow the world's economy to turn on the basis of changes in the policies of individual national economies in proportion to their real contribution in the global marketplace.
The Mondo's value would fluctuate daily based on changes in the levels of its component currencies -- just like a stock index does. So the U.S., which has 23% of the world's economy ($13.9 trillion in so-called purchasing power parity GDP -- a common measure of what a currency can buy around the world) would see the dollar contribute 23% of its weight to the value of the Mondo. China's yuan would contribute 11% to the weight of the Mondo, since its PPP GDP is $7 trillion, or 11% of global GDP.
Shifting to the Mondo would be great for consumers. Today, commodities like oil are traded in dollars, so when the value of the dollar drops, the price of oil goes up. That's why gasoline prices have been surging higher recently in the face of the Fed's decision to boost the U.S. money supply by $600 billion.
But if oil was traded in Mondos, the Fed's decision would have a much smaller impact on its price, because the value of the Mondo also would heavily reflect the policies of other major world economies China and Japan. And since those countries have not just announced massive stimulus programs, the Mondo would not have dropped as much as the dollar has.
Adoption of the Mondo would help also ease U.S. tensions with China, which holds much of its trillions in reserves in U.S. government securities. If China held those reserves in Mondos, then the negative effect of the weakening dollar on Chinese reserves would be reduced dramatically.
It Took Nixon to Shift the Reserve Currency Standard
It's not hard to imagine the uproar that would ensue if the major economic powers made a serious effort to create the Mondo, or something similar, and bring it into use. Each country would calculate the costs and benefits of swapping out of the dollar as a reserve currency, and countries that found themselves worse off in the short-term would balk at implementing it.
But the world was able to adapt back on Aug. 15, 1971, when President Richard Nixon took the U.S. off the gold standard to "defend the U.S. against currency speculators." The world quickly followed the America's lead.
If using the dollar as a reserve currency becomes too painful, perhaps the global pressure to adopt the Mondo will get strong enough to overcome these objections.
That would be great for those who are holding gold now, because it would boost demand for gold -- thus causing it to rise in price even more. But since there isn't nearly enough physical gold to back all the currencies around the world, returning to the
Zoellick, under a barrage of criticism for the proposal, backpedaled on Wednesday, suggesting he had been misunderstood. "I'm not advocating a return to the 19th century, when money supply was linked to gold," said Zoellick. Good job, Bob.
Introducing the Mondo
The gold standard aside, I'd like to see the world adopt a new reserve currency to supplant the dollar: Call it the Mondo (from the Italian word for world). This new currency would be based on each country's contribution to global GDP. Thus, the more important a country's economy, the bigger that country's influence on the Mondo's value.
The Mondo's value would fluctuate daily based on changes in the levels of its component currencies -- just like a stock index does. So the U.S., which has 23% of the world's economy ($13.9 trillion in so-called purchasing power parity GDP -- a common measure of what a currency can buy around the world) would see the dollar contribute 23% of its weight to the value of the Mondo. China's yuan would contribute 11% to the weight of the Mondo, since its PPP GDP is $7 trillion, or 11% of global GDP.
Shifting to the Mondo would be great for consumers. Today, commodities like oil are traded in dollars, so when the value of the dollar drops, the price of oil goes up. That's why gasoline prices have been surging higher recently in the face of the Fed's decision to boost the U.S. money supply by $600 billion.
But if oil was traded in Mondos, the Fed's decision would have a much smaller impact on its price, because the value of the Mondo also would heavily reflect the policies of other major world economies China and Japan. And since those countries have not just announced massive stimulus programs, the Mondo would not have dropped as much as the dollar has.
Adoption of the Mondo would help also ease U.S. tensions with China, which holds much of its trillions in reserves in U.S. government securities. If China held those reserves in Mondos, then the negative effect of the weakening dollar on Chinese reserves would be reduced dramatically.
It Took Nixon to Shift the Reserve Currency Standard
It's not hard to imagine the uproar that would ensue if the major economic powers made a serious effort to create the Mondo, or something similar, and bring it into use. Each country would calculate the costs and benefits of swapping out of the dollar as a reserve currency, and countries that found themselves worse off in the short-term would balk at implementing it.
But the world was able to adapt back on Aug. 15, 1971, when President Richard Nixon took the U.S. off the gold standard to "defend the U.S. against currency speculators." The world quickly followed the America's lead.
If using the dollar as a reserve currency becomes too painful, perhaps the global pressure to adopt the Mondo will get strong enough to overcome these objections.
Glenn Beck: Five Step Plan
his is a rush transcript from "Glenn Beck," November 10, 2010. This copy may not be in its final form and may be updated.
GLENN BECK, HOST: Last night, almost 3 million people watched this broadcast to find out about George Soros. Last night, we introduced you to the puppet master — billionaire, financier George Soros — notorious for collapsing economies and regimes all around the world.
He's known as the man who broke the Bank of England. The prime minister of Malaysia called Soros an "unscrupulous profiteer." In Thailand, he was branded the "economic war criminal." They also said that he sucks the blood from people.
In 1994, George Soros stated, quote, "Just right that the former Soviet Empire is now called the Soros Empire."
Combine thesecredits with his power, along with his financial fortune, it is no wonder that he fancies himself some sort of god. That's not something that we have said, that is something that he claims. He has described himself over and over again as some sort of god, even as the conscience of the world.
(BEGIN VIDEO CLIP)
GEORGE SOROS, BILLIONAIRE/FINANCIER: Yes, I did say that, and actually, I stand by it. I think the world very much needs a conscience. I want my foundation network to be the conscience of the world.
(END VIDEO CLIP)
BECK: OK. He wants it to be the conscience of the world. He's a very, very generous man. Most people in the world know him as a philanthropist — huge charity guy. Well, we'll look into that charity tonight.
He gets a kick out of playing god. It's actually amusing to him. He said in his own words, "It's a game."
Unfortunately, what Mr. Soros forgets is these are real people. This is not some game. Real lives are being destroyed for his financial gain and for his power.
I'm called a hate-monger because I have conservative views and positions like, I don't know, let people keep their money.
And let me tell you this — it takes a cold, cold heart to have full knowledge that what you are doing to make a buck is literally destroying the lives of people. And now, he's messing with your life. He says, in his own words, America is his next target.
(BEGIN VIDEO CLIP)
SOROS: I became concerned with the problems of globalization. They had global markets, but their politics is based on sovereign of states. So, how do you deal with that issue?
And then, I came to the realization that open society is in danger by our current leadership, in this country. And that is when I refocused my attention on the United States.
(END VIDEO CLIP)
BECK: He has focused his attention. This isn't a hypothesis. This has been proven. This is what this man does. He has done it before and now, he wants orderly decline of the dollar — his words, not mine.
If you thought $5 or $4 a gallon gas is painful, wait until Soros devalues your dollar even more. Forget driving. How about eating?
We told you just recently, I told you this for, what, two years now? That they would devalue the dollar and that inflation would come.
"Financial Times" reported it today. It's about to be added to yourgrocery bill. And if you're the one in the household doing the grocery shopping, you've already seen it. But, oh, you haven't seen nothing yet.
As they devalue the dollar, in orderly decline, you will start to see prices like one group — inflation group predicted that it will soon cost
$11 — $11.43 for an ear of corn. One ear.
How about going to the grocery store and seeing a price tag on loaf of wheat bread of $23.05?
This sugar, this size, 32 ounces of sugar — $62.21.
For the milk, good old soy milk — I mean, who doesn't — smooth and delicious, $24.31 for this size.
For a container of this coffee, Folgers, 11 1/2 ounces, $77.71.
For a container of orange juice, not this size but for 64 fluid ounces, Minute Maid orange juice, they are now saying it will be $45.71.
And one thing I couldn't believe and we called the experts and ask them, OK, please tell me that the institute on inflation is nuts. No. No, no. They're not, unfortunately.
I couldn't believe that one candy bar, one Hersey's milk chocolate candy bar, 1 1/2 ounces, Hershey's milk chocolate, $15.50.
This, Mr. Soros, is not a game — at least not for the shlubs outside of your world. I don't know anybody inside the world of George Soros. Well, you've got Timothy Geithner. You have Ben Bernanke. You have most of the politicians in Washington.
We are the ones who are going to risk in this game. When he manages the decline of our dollar, him and his minions in Washington, who do think pays the price? Will it be him? Or will it be you?
You see, he knows what's coming. And because of that, he can hedge. He knows exactly where to go. He knows where the exits are. And he's done it over and over again.
He will gain profit and power — and you will lose both. He's playing god, which is fine by him because he's an atheists.
So, there has to be a god. Who's going to fill that void? Well, he's smart enough to do it.
In one transcript, he said that he was benevolent just like god. He sees the future just like god. So, what does god's bible preach? Globalization.
(BEGIN VIDEO CLIP)
SOROS: Open society is a desirable form of social organization, both as a means to an end, and as an end itself.
(END VIDEO CLIP)
BECK: OK. That's, by the way, replacement of republic, an open society.
This is not a leap of faith. I am stating this as fact. And as I told you last night at GlennBeck.com and on TheBlaze.com, you will find all of these facts and all the research.
Do not take my word for it. Not one bit on this show. Do not take my word for it. Read about it yourself.
Most of it comes in the form of his own words. Come on over here for a second.
These are — many of these are the books we use to prepare the show. And many of these books are written by him. This one, this one, this one. You can read about it.
He's not shy about telling you. I mean God wrote a book, too. He wrote three.
Because of his own words, we know what to look for. We know the signs. We know what he's done in the past to bring down regimes. He's left a blueprint, pattern to look for.
And now that Soros is saying that he has turned his focus and set his sights on America, don't you think we should look at his past and see how he has done it before? What are the footprints? Where is he leaving fingerprints? How did he do it? Four or five times before.
Well, we also should look at what has he accomplished so far, how far down that line is he.
Tonight, we look at the puppet master's latest work of art: America under siege.
(MUSIC)
BECK: All right. George Soros has his sights on America.
So, how does he view us? Well, it's easy. He views us like this: America is the main obstacle to a stable and just world order, the United States — his words, not mine.
So, not only does he want to bring America to her knees, financially, he wants to reap obscene profits off us as well. Like when he made $1 billion off the collapse of the British sterling — his claim, not mine.
(BEGIN VIDEO CLIP)
SOROS: The money that I made on this particular transaction would be estimated about $1 billion.
CHARLIE ROSE: You are the guy they said who broke the Bank of England.
SOROS: Right. And —
ROSE: And did.
SOROS: Well, that's true.
(LAUGHTER)
(END VIDEO CLIP)
BECK: He's just a loveable, old spooky dude. By the way, his people when they met my number two in the story that I told you last night, and remember left us this threat — I mean this gift. He says they didn't really make that much of it. So, is he lying then or is he lying now? Which is it?
This man causes misery in his wake. People's lives were ruined. Retirement account, savings, jobs, all gone. Grandma and grandpa saved their whole life — gone. And he just walks away.
You saved your whole life if you put all of your money away for retirement. It's now worth 30 percent less in the last 10 years. And it's about to worth a lot less.
What are you going to do? Are you going to go back and get another job?
See, he doesn't think about that stuff because your life is a game to this man. And again, listen to George Soros in his own words.
(BEGIN VIDEO CLIP)
SOROS: When you try to improve society, you affect different people and different interests differently. And they are not actually commensurate. So, you very often have all kind of unintended adverse consequences.
So I have to experiment. And it was — it was a learning process. The first part was this subversive activity, disrupting the oppressive regimes. That was a lot of fun. That's actually what we hoped on this whole enterprise.
(END VIDEO CLIP)
BECK: That was a lot of fun, experimenting with people's lives. This is what happens when people put themselves in an elite category or point themselves rulers, or in his case, see themselves as some sort of a god. You become a play thing and he is the all-knowing, all-seeing creator.
He has been playing this game for a very long time. Before I show you how he's playing it now and what is coming, I want to start in Czechoslovakia. Half a century ago in Czechoslovakia, it was a scary, scary time to live in this part of the world.
The world was changing. Europe was on fire. Joblessness, hunger — hunger was on the rise. People didn't know what to do. Protesters started rioting in the street. The average person was frightened out of their mind.
And so, what did they do? They begged the government. Please bring order. Stop the people rioting in the streets. Well, they did.
And the next thing the average person knew, they were a communist country. It is important to remember this story because that's what history books would tell you. But there is now new documents out that were never supposed to be released and it plays directly into today and what is happening in America. And we'll get to that by the bottom of the hour.
But right now, I want to show you the signs. What is George Soros trying to do? What is it? How does he do it?
After country after country after country, we found that there are five steps to him gaining control. He does it over and over and over again. So, let's see what the steps are and let's if he's done any of them here.
The first one is form a shadow government using humanitarian aid as cover. This is what he just said. It's kind of funny. It's kind of fun. The first step he said is subversive activities. OK?
Step two: control the airwaves. Fund existing radio and TV outlets and take control over them or start your own outlets. Remember: take control of existing or start your own.
Step three: destabilize the state, weaken the government and build an anti-government kind of feeling in this country. You exploit an economic crisis or take advantage of existing crisis — pressure from the top and the bottom. This will allow you to weaken the government and build anti- government public sentiment.
Step four: you provoke an election crisis. You wait for an election. And during the election, you cry voter fraud.
Step five: take power. You stage massive demonstrations, civil disobedience, sit-ins, general strike, you encourage activism. You promote voter fraud and tell followers what to do through your radio and television stations.
We'll start at the beginning, shall we? Do any of those sound familiar? This is the way George Soros takes a country down every time — every time.
Again, he's done — how many times, Joe (ph), four or five? Four times — four times before. We'll be number five.
So, let's go back here. The five steps to control. The first one is form a shadow government using humanitarian aid as a cover.
Now, is he doing this? Well, let me start with the central George Soros operation, which is OSI. This is his main group. OSI, it is the Open Society Institute. It sounds warm and fuzzy. And to hear the way they tell it, it is warm and fuzzy.
Oddly enough, yesterday, in a sign of I think total panic and collapse, OSI released a video talking all about all the wonderful things that George Soros does. It's fantastic! Must have cost a fortune to put this up. Coincidentally, it's released the day that we do our special to show that he's just a loveable, old philanthropist.
That's all he does, he cares about people. Oh, I'm sure he does. I'm sure he does. Because he's a humanitarian. He's a philanthropist, you know? He gives tons of money. I'll show you that whole thing at the end of the show.
Through the Open Society Foundation, he donates almost half a billion dollars annually to charity causes all around the globe. Well, that's fantastic. That's fantastic. I love people who give a lot of money to charity. I think that's fantastic. I do.
Now, when you look at a charity, this is what I learned when I started to try to be responsible with my money, you look at people as an investment. Who's — what's the best way to invest in people. But you need, if you're going to give away half a billion dollars every single year, you better have somebody who really knows how to manage it and you better have somebody who has a big, big heart.
Who is the person to head up your charitable arm, Mr. Soros? Well, he found — he just found — I mean, just the founder of SDS, the radical student group from the 1960s. You remember — you remember the days of rage riots? Yes. Oh, and the spin-off group, Weather Underground? Yes.
Just the guy who started this stuff, that's who heads the charitable arm. It's almost like subversive activities are kind of fun to Mr. Soros under the cover of humanitarian aid.
So, OSI spreads money all over the country, but I'm sure — I'm sure the head of OSI, he's probably changed. One of the things that OSI funded was the Shadow Conventions in 2000. It funneled up one-third of the Shadow Convention — who hosted here — I mean, unless you are an avid C-Span watcher, you probably don't remember them, but it was an attempt to, as they put it, focus on the issues that the parties just won't touch, issues like campaign finance reform.
Wait a minute. Last night, campaign finance reform. That's a good humanitarian thing, isn't it? Seriously, that going to feed a lot of children.
Campaign finance reform — remember we said he spent over $100 million to get campaign finance reform. And what happened? Oh, yes, I remember. It led to the boom in 501(c)(3)s, like MoveOn.org, or "Media Matters," or any of the other things that he seems to fund. They can take in as much money as they want.
And now, all of those — all of those political organizations are controlled by George Soros. But remember, it's humanitarian. One of the organizers of the Shadow Convention was Arianna Huffington, which is now getting the "Huffington Post" money from George Soros to be able to hire reporters. Isn't that great?
She was introducing here in 2000 at the Shadow Convention, she was introducing somebody else, another guest speaker, another co-organizer of the event. Watch.
(BEGIN VIDEO CLIP)
ARIANNA HUFFINGTON, HUFFINGTON POST: When I'm moving to the reflect on the issue of the Shadow Convention, but the persistence of poverty in the middle of our prosperity and it gives me great pleasure to welcome one of our conveners, the Reverend Jim Wallis, the head of the Call to Renewal, a new coalition of churches to fight poverty and the editor of "Sojourners" magazine. He's also been a mentor and inspiration to me. So, get ready to be inspired, Jim Wallis.
(END VIDEO CLIP)
BECK: Praise Jesus. Jim Wallis. Sojourners. Faith politics culture. That's right.
Sojourners, didn't he get a bunch of money recently to help boycott me? That's right! I remember him now. And Sojourners, another group funded by OSI.
George Soros, an atheist, dumping a whole bunch of money into a Christian organization. That almost doesn't make sense. Oh, but it's humanitarian. It kind of makes you question the motives, doesn't it?
Of course, it doesn't take long to see that his attraction to Jim Wallis is because he's a big government progressive. The solution is not with the people and the churches, it is get everybody into the government. He's infiltrating the churches. You see how it works?
I know. I know. I'm sorry, Mr. Soros, it's just humanitarian aid.
Step number two is to control the airwaves. Has George Soros done this at all? Well, Open Society — I mean, it's very innocent here. I mean, it's pure as the driven snow — recently donated $1.8 million so that NPR could hire new journalist. Do we have the NPR thing? Yes, they just -
- $1.8 million so they could hire 100 journalists.
And then Soros wrote $100 million check to "Media Matters" to go along with — sorry, $1 million to go along with NPR, which was great. Their stated goal, by the way, what got him to write that was they're going to get me off the air and then destroy FOX. Isn't that great?
By the way, he gave that million dollars and all that money after we were threatened — I mean, we were given a gift by Mr. Soros and they realize that I wouldn't shut up. I wouldn't stop. And so, then, he decided, well, I guess I'm going to have to destroy him another way.
A million dollars also to the TeaPartyTracker.org. TeaPartyTracker.org, this is a Web site that they developed with the NAACP's media staff. It's supposed to expose the intolerant element of the Tea Party. Then the NAACP takes its content and collaborates with Think Progress, another Soros funded group, along with "Media Matters" — and there you go.
The next three steps, next.
(COMMERCIAL BREAK)
BECK: We're talking about the plan of control that George Soros uses to take control of the governments. The first one was to form shadow government using humanitarian aid as a cover — in George Soros' words, subversive activities.
By the way, here's Sojourners. Here's a letter a friend of mine gave me today. It's me on the cover. "Glenn Beck doesn't like us. We must be doing something right." It's a fundraising letter for this guy.
Number two: control the airwaves. Is he doing that? Yes.
Number three: destabilize the state and weaken the government and build an anti-government sentiment. OK. So, is he doing this? Well, again, we go back to his organization.
His humanitarian organization heavily funds the Tides Foundation — the Tides Foundation, $4.2 million. They are the ones that funded the anti-capitalist "Story of Stuff" indoctrination videos that we have told you that helps the kids resent government that supports a free market system.
Tides, itself, takes some of its money and then it sends on to places like the Apollo Alliance, the home of Van Jones. They're the ones that also crafted the stimulus bill, you know, for the little guy, like Andy Stern. I think we know how everyone feels about the stimulus bill.
Also, OSI decides that they're going to fund a place called the Center for American Progress. You know that one. That's a progressive think tank that churns out big government ideas, and who get many of their ideas from another group OSI funds, the IPS. This is the Institute for Policy Studies.
You know what they've just come out with? This is great. They've just come out with a couple things. First, President Obama needs to bypass Congress and issue more executive orders now that the election is over.
And they've come out with this exciting new report that says, quote, "Outside pressure, inside strategy." Wow! That sounds familiar. "Inside strategy, outside pressure" — it's almost like bottom up, top down. What am I — what am I remembering here? Oh, yes, I remember, Czechoslovakia — top to bottom, bottom to top, inside out.
Remind me of that along with George Soros and Van Jones in just a few minutes. I'll show you something that will blow your mind.
Step four — step four is provoke an election crisis. Well, that, of course, that doesn't — we haven't done anything like that, you know, where you lose confidence in the vote? No, no, no. Of course not.
Of course, you have OSI funding ACORN. This is a group that's willing to sell, you know, human sex slave traffickers and give them a tax break.
Soros also created this SOS, the Secretary of State Project. This is a group that is specifically designed to groom and elect secretary of states around the nation because they're the ones who have to certify election results. How do you think — what's his name from Minnesota got in last time? Remember all that? Remember? Al Franken.
Yes, who is this project? Isn't that weird? They're the ones that call the shots.
And Soros has pumped millions in voting-related groups, some of them legitimate, some get caught doing illegal things, some are kind of little shady.
I like this one myself, One America Votes. They get money from the Tides. Remember, Soros funds that group. They send illegal immigrants door to door in Washington state just before this last election to tell people that they were illegal, but you should get out and vote. There's George Soros for you.
Then step number five: take power. Take power — this one is kind of hand in hand with stage demonstrations. This one is about to come.
We've already seen the beginnings of it, the One Nation rally. We saw this. This is the labor union rally in D.C. as a response to 8.28 — a project of the Tides Center, aka, George Soros' group.
OSI also donated to the Ruckus Society, environmental justice group known for their aggressive tactics. Remember, that was the guy I told you about last night who was causing all the riots in Seattle?
Then, OSI has donated to several groups who are trying to get me off the air. You have Faith in Public Life, that's funded by OSI. They're calling for my head.
You have Sojourners, of course. They're calling for my head.
You have "Media Matters."
All of them out of the pocket of George Soros.
Mark my words. And I believe I said that for the last two years on inflation. As I told you, massive inflation will come and you're beginning to see it now. Staged demonstrations and riots in the streets, you will see them here.
What you're seeing today in the U.K., these students demonstrating in the streets. That's a demonstration, by the way. They will come here, too, because what are they rioting about? That they are cutting services at schools and raising tuitions. Really?
Well, they will come, and they will be orchestrated, funded, or they will be exploited by Soros-like groups. If you're watching this show, and George Soros is the puppet master, so I'm sure he's having somebody else watch it, what happens? What happens to all of these groups? What happens to all of these groups?
This man is playing god. He thinks he's god. God created the earth in six days and then rested on the seventh. Well, George Soros has created all of these things.
And believe me, it's not just in fact here. Do you have this?
Yes, come here, Erin. Come here. You stand over here. Stand. Lovely and talented Erin.
These are the open society — these are just the things that he has donated to, I just want to say, because we don't have a lot of time so I wanted to show you the list.
These are the lists of the organization that are involved, you know, in these five steps. And we wrote it out for you, but I just wanted to show you that, you know, it's no big deal. It's not like you're overpowered or anything like this.
There is more. This is less than half of them. But other than that, there is nothing to see here. Just move on with your lives. Nothing to see here, folks.
http://www.foxnews.com/story/0,2933,602143,00.html
GLENN BECK, HOST: Last night, almost 3 million people watched this broadcast to find out about George Soros. Last night, we introduced you to the puppet master — billionaire, financier George Soros — notorious for collapsing economies and regimes all around the world.
He's known as the man who broke the Bank of England. The prime minister of Malaysia called Soros an "unscrupulous profiteer." In Thailand, he was branded the "economic war criminal." They also said that he sucks the blood from people.
In 1994, George Soros stated, quote, "Just right that the former Soviet Empire is now called the Soros Empire."
Combine these
GEORGE SOROS, BILLIONAIRE/FINANCIER: Yes, I did say that, and actually, I stand by it. I think the world very much needs a conscience. I want my foundation network to be the conscience of the world.
(END VIDEO CLIP)
BECK: OK. He wants it to be the conscience of the world. He's a very, very generous man. Most people in the world know him as a philanthropist — huge charity guy. Well, we'll look into that charity tonight.
He gets a kick out of playing god. It's actually amusing to him. He said in his own words, "It's a game."
Unfortunately, what Mr. Soros forgets is these are real people. This is not some game. Real lives are being destroyed for his financial gain and for his power.
I'm called a hate-monger because I have conservative views and positions like, I don't know, let people keep their money.
And let me tell you this — it takes a cold, cold heart to have full knowledge that what you are doing to make a buck is literally destroying the lives of people. And now, he's messing with your life. He says, in his own words, America is his next target.
(BEGIN VIDEO CLIP)
SOROS: I became concerned with the problems of globalization. They had global markets, but their politics is based on sovereign of states. So, how do you deal with that issue?
And then, I came to the realization that open society is in danger by our current leadership, in this country. And that is when I refocused my attention on the United States.
(END VIDEO CLIP)
BECK: He has focused his attention. This isn't a hypothesis. This has been proven. This is what this man does. He has done it before and now, he wants orderly decline of the dollar — his words, not mine.
If you thought $5 or $4 a gallon gas is painful, wait until Soros devalues your dollar even more. Forget driving. How about eating?
We told you just recently, I told you this for, what, two years now? That they would devalue the dollar and that inflation would come.
"Financial Times" reported it today. It's about to be added to your
As they devalue the dollar, in orderly decline, you will start to see prices like one group — inflation group predicted that it will soon cost
$11 — $11.43 for an ear of corn. One ear.
How about going to the grocery store and seeing a price tag on loaf of wheat bread of $23.05?
This sugar, this size, 32 ounces of sugar — $62.21.
For the milk, good old soy milk — I mean, who doesn't — smooth and delicious, $24.31 for this size.
For a container of this coffee, Folgers, 11 1/2 ounces, $77.71.
For a container of orange juice, not this size but for 64 fluid ounces, Minute Maid orange juice, they are now saying it will be $45.71.
And one thing I couldn't believe and we called the experts and ask them, OK, please tell me that the institute on inflation is nuts. No. No, no. They're not, unfortunately.
I couldn't believe that one candy bar, one Hersey's milk chocolate candy bar, 1 1/2 ounces, Hershey's milk chocolate, $15.50.
This, Mr. Soros, is not a game — at least not for the shlubs outside of your world. I don't know anybody inside the world of George Soros. Well, you've got Timothy Geithner. You have Ben Bernanke. You have most of the politicians in Washington.
We are the ones who are going to risk in this game. When he manages the decline of our dollar, him and his minions in Washington, who do think pays the price? Will it be him? Or will it be you?
You see, he knows what's coming. And because of that, he can hedge. He knows exactly where to go. He knows where the exits are. And he's done it over and over again.
He will gain profit and power — and you will lose both. He's playing god, which is fine by him because he's an atheists.
So, there has to be a god. Who's going to fill that void? Well, he's smart enough to do it.
In one transcript, he said that he was benevolent just like god. He sees the future just like god. So, what does god's bible preach? Globalization.
(BEGIN VIDEO CLIP)
SOROS: Open society is a desirable form of social organization, both as a means to an end, and as an end itself.
(END VIDEO CLIP)
BECK: OK. That's, by the way, replacement of republic, an open society.
This is not a leap of faith. I am stating this as fact. And as I told you last night at GlennBeck.com and on TheBlaze.com, you will find all of these facts and all the research.
Do not take my word for it. Not one bit on this show. Do not take my word for it. Read about it yourself.
Most of it comes in the form of his own words. Come on over here for a second.
These are — many of these are the books we use to prepare the show. And many of these books are written by him. This one, this one, this one. You can read about it.
He's not shy about telling you. I mean God wrote a book, too. He wrote three.
Because of his own words, we know what to look for. We know the signs. We know what he's done in the past to bring down regimes. He's left a blueprint, pattern to look for.
And now that Soros is saying that he has turned his focus and set his sights on America, don't you think we should look at his past and see how he has done it before? What are the footprints? Where is he leaving fingerprints? How did he do it? Four or five times before.
Well, we also should look at what has he accomplished so far, how far down that line is he.
Tonight, we look at the puppet master's latest work of art: America under siege.
(MUSIC)
BECK: All right. George Soros has his sights on America.
So, how does he view us? Well, it's easy. He views us like this: America is the main obstacle to a stable and just world order, the United States — his words, not mine.
So, not only does he want to bring America to her knees, financially, he wants to reap obscene profits off us as well. Like when he made $1 billion off the collapse of the British sterling — his claim, not mine.
(BEGIN VIDEO CLIP)
SOROS: The money that I made on this particular transaction would be estimated about $1 billion.
CHARLIE ROSE: You are the guy they said who broke the Bank of England.
SOROS: Right. And —
ROSE: And did.
SOROS: Well, that's true.
(LAUGHTER)
(END VIDEO CLIP)
BECK: He's just a loveable, old spooky dude. By the way, his people when they met my number two in the story that I told you last night, and remember left us this threat — I mean this gift. He says they didn't really make that much of it. So, is he lying then or is he lying now? Which is it?
This man causes misery in his wake. People's lives were ruined. Retirement account, savings, jobs, all gone. Grandma and grandpa saved their whole life — gone. And he just walks away.
You saved your whole life if you put all of your money away for retirement. It's now worth 30 percent less in the last 10 years. And it's about to worth a lot less.
What are you going to do? Are you going to go back and get another job?
See, he doesn't think about that stuff because your life is a game to this man. And again, listen to George Soros in his own words.
(BEGIN VIDEO CLIP)
SOROS: When you try to improve society, you affect different people and different interests differently. And they are not actually commensurate. So, you very often have all kind of unintended adverse consequences.
So I have to experiment. And it was — it was a learning process. The first part was this subversive activity, disrupting the oppressive regimes. That was a lot of fun. That's actually what we hoped on this whole enterprise.
(END VIDEO CLIP)
BECK: That was a lot of fun, experimenting with people's lives. This is what happens when people put themselves in an elite category or point themselves rulers, or in his case, see themselves as some sort of a god. You become a play thing and he is the all-knowing, all-seeing creator.
He has been playing this game for a very long time. Before I show you how he's playing it now and what is coming, I want to start in Czechoslovakia. Half a century ago in Czechoslovakia, it was a scary, scary time to live in this part of the world.
The world was changing. Europe was on fire. Joblessness, hunger — hunger was on the rise. People didn't know what to do. Protesters started rioting in the street. The average person was frightened out of their mind.
And so, what did they do? They begged the government. Please bring order. Stop the people rioting in the streets. Well, they did.
And the next thing the average person knew, they were a communist country. It is important to remember this story because that's what history books would tell you. But there is now new documents out that were never supposed to be released and it plays directly into today and what is happening in America. And we'll get to that by the bottom of the hour.
But right now, I want to show you the signs. What is George Soros trying to do? What is it? How does he do it?
After country after country after country, we found that there are five steps to him gaining control. He does it over and over and over again. So, let's see what the steps are and let's if he's done any of them here.
The first one is form a shadow government using humanitarian aid as cover. This is what he just said. It's kind of funny. It's kind of fun. The first step he said is subversive activities. OK?
Step two: control the airwaves. Fund existing radio and TV outlets and take control over them or start your own outlets. Remember: take control of existing or start your own.
Step three: destabilize the state, weaken the government and build an anti-government kind of feeling in this country. You exploit an economic crisis or take advantage of existing crisis — pressure from the top and the bottom. This will allow you to weaken the government and build anti- government public sentiment.
Step four: you provoke an election crisis. You wait for an election. And during the election, you cry voter fraud.
Step five: take power. You stage massive demonstrations, civil disobedience, sit-ins, general strike, you encourage activism. You promote voter fraud and tell followers what to do through your radio and television stations.
We'll start at the beginning, shall we? Do any of those sound familiar? This is the way George Soros takes a country down every time — every time.
Again, he's done — how many times, Joe (ph), four or five? Four times — four times before. We'll be number five.
So, let's go back here. The five steps to control. The first one is form a shadow government using humanitarian aid as a cover.
Now, is he doing this? Well, let me start with the central George Soros operation, which is OSI. This is his main group. OSI, it is the Open Society Institute. It sounds warm and fuzzy. And to hear the way they tell it, it is warm and fuzzy.
Oddly enough, yesterday, in a sign of I think total panic and collapse, OSI released a video talking all about all the wonderful things that George Soros does. It's fantastic! Must have cost a fortune to put this up. Coincidentally, it's released the day that we do our special to show that he's just a loveable, old philanthropist.
That's all he does, he cares about people. Oh, I'm sure he does. I'm sure he does. Because he's a humanitarian. He's a philanthropist, you know? He gives tons of money. I'll show you that whole thing at the end of the show.
Through the Open Society Foundation, he donates almost half a billion dollars annually to charity causes all around the globe. Well, that's fantastic. That's fantastic. I love people who give a lot of money to charity. I think that's fantastic. I do.
Now, when you look at a charity, this is what I learned when I started to try to be responsible with my money, you look at people as an investment. Who's — what's the best way to invest in people. But you need, if you're going to give away half a billion dollars every single year, you better have somebody who really knows how to manage it and you better have somebody who has a big, big heart.
Who is the person to head up your charitable arm, Mr. Soros? Well, he found — he just found — I mean, just the founder of SDS, the radical student group from the 1960s. You remember — you remember the days of rage riots? Yes. Oh, and the spin-off group, Weather Underground? Yes.
Just the guy who started this stuff, that's who heads the charitable arm. It's almost like subversive activities are kind of fun to Mr. Soros under the cover of humanitarian aid.
So, OSI spreads money all over the country, but I'm sure — I'm sure the head of OSI, he's probably changed. One of the things that OSI funded was the Shadow Conventions in 2000. It funneled up one-third of the Shadow Convention — who hosted here — I mean, unless you are an avid C-Span watcher, you probably don't remember them, but it was an attempt to, as they put it, focus on the issues that the parties just won't touch, issues like campaign finance reform.
Wait a minute. Last night, campaign finance reform. That's a good humanitarian thing, isn't it? Seriously, that going to feed a lot of children.
Campaign finance reform — remember we said he spent over $100 million to get campaign finance reform. And what happened? Oh, yes, I remember. It led to the boom in 501(c)(3)s, like MoveOn.org, or "Media Matters," or any of the other things that he seems to fund. They can take in as much money as they want.
And now, all of those — all of those political organizations are controlled by George Soros. But remember, it's humanitarian. One of the organizers of the Shadow Convention was Arianna Huffington, which is now getting the "Huffington Post" money from George Soros to be able to hire reporters. Isn't that great?
She was introducing here in 2000 at the Shadow Convention, she was introducing somebody else, another guest speaker, another co-organizer of the event. Watch.
(BEGIN VIDEO CLIP)
ARIANNA HUFFINGTON, HUFFINGTON POST: When I'm moving to the reflect on the issue of the Shadow Convention, but the persistence of poverty in the middle of our prosperity and it gives me great pleasure to welcome one of our conveners, the Reverend Jim Wallis, the head of the Call to Renewal, a new coalition of churches to fight poverty and the editor of "Sojourners" magazine. He's also been a mentor and inspiration to me. So, get ready to be inspired, Jim Wallis.
(END VIDEO CLIP)
BECK: Praise Jesus. Jim Wallis. Sojourners. Faith politics culture. That's right.
Sojourners, didn't he get a bunch of money recently to help boycott me? That's right! I remember him now. And Sojourners, another group funded by OSI.
George Soros, an atheist, dumping a whole bunch of money into a Christian organization. That almost doesn't make sense. Oh, but it's humanitarian. It kind of makes you question the motives, doesn't it?
Of course, it doesn't take long to see that his attraction to Jim Wallis is because he's a big government progressive. The solution is not with the people and the churches, it is get everybody into the government. He's infiltrating the churches. You see how it works?
I know. I know. I'm sorry, Mr. Soros, it's just humanitarian aid.
Step number two is to control the airwaves. Has George Soros done this at all? Well, Open Society — I mean, it's very innocent here. I mean, it's pure as the driven snow — recently donated $1.8 million so that NPR could hire new journalist. Do we have the NPR thing? Yes, they just -
- $1.8 million so they could hire 100 journalists.
And then Soros wrote $100 million check to "Media Matters" to go along with — sorry, $1 million to go along with NPR, which was great. Their stated goal, by the way, what got him to write that was they're going to get me off the air and then destroy FOX. Isn't that great?
By the way, he gave that million dollars and all that money after we were threatened — I mean, we were given a gift by Mr. Soros and they realize that I wouldn't shut up. I wouldn't stop. And so, then, he decided, well, I guess I'm going to have to destroy him another way.
A million dollars also to the TeaPartyTracker.org. TeaPartyTracker.org, this is a Web site that they developed with the NAACP's media staff. It's supposed to expose the intolerant element of the Tea Party. Then the NAACP takes its content and collaborates with Think Progress, another Soros funded group, along with "Media Matters" — and there you go.
The next three steps, next.
(COMMERCIAL BREAK)
BECK: We're talking about the plan of control that George Soros uses to take control of the governments. The first one was to form shadow government using humanitarian aid as a cover — in George Soros' words, subversive activities.
By the way, here's Sojourners. Here's a letter a friend of mine gave me today. It's me on the cover. "Glenn Beck doesn't like us. We must be doing something right." It's a fundraising letter for this guy.
Number two: control the airwaves. Is he doing that? Yes.
Number three: destabilize the state and weaken the government and build an anti-government sentiment. OK. So, is he doing this? Well, again, we go back to his organization.
His humanitarian organization heavily funds the Tides Foundation — the Tides Foundation, $4.2 million. They are the ones that funded the anti-capitalist "Story of Stuff" indoctrination videos that we have told you that helps the kids resent government that supports a free market system.
Tides, itself, takes some of its money and then it sends on to places like the Apollo Alliance, the home of Van Jones. They're the ones that also crafted the stimulus bill, you know, for the little guy, like Andy Stern. I think we know how everyone feels about the stimulus bill.
Also, OSI decides that they're going to fund a place called the Center for American Progress. You know that one. That's a progressive think tank that churns out big government ideas, and who get many of their ideas from another group OSI funds, the IPS. This is the Institute for Policy Studies.
You know what they've just come out with? This is great. They've just come out with a couple things. First, President Obama needs to bypass Congress and issue more executive orders now that the election is over.
And they've come out with this exciting new report that says, quote, "Outside pressure, inside strategy." Wow! That sounds familiar. "Inside strategy, outside pressure" — it's almost like bottom up, top down. What am I — what am I remembering here? Oh, yes, I remember, Czechoslovakia — top to bottom, bottom to top, inside out.
Remind me of that along with George Soros and Van Jones in just a few minutes. I'll show you something that will blow your mind.
Step four — step four is provoke an election crisis. Well, that, of course, that doesn't — we haven't done anything like that, you know, where you lose confidence in the vote? No, no, no. Of course not.
Of course, you have OSI funding ACORN. This is a group that's willing to sell, you know, human sex slave traffickers and give them a tax break.
Soros also created this SOS, the Secretary of State Project. This is a group that is specifically designed to groom and elect secretary of states around the nation because they're the ones who have to certify election results. How do you think — what's his name from Minnesota got in last time? Remember all that? Remember? Al Franken.
Yes, who is this project? Isn't that weird? They're the ones that call the shots.
And Soros has pumped millions in voting-related groups, some of them legitimate, some get caught doing illegal things, some are kind of little shady.
I like this one myself, One America Votes. They get money from the Tides. Remember, Soros funds that group. They send illegal immigrants door to door in Washington state just before this last election to tell people that they were illegal, but you should get out and vote. There's George Soros for you.
Then step number five: take power. Take power — this one is kind of hand in hand with stage demonstrations. This one is about to come.
We've already seen the beginnings of it, the One Nation rally. We saw this. This is the labor union rally in D.C. as a response to 8.28 — a project of the Tides Center, aka, George Soros' group.
OSI also donated to the Ruckus Society, environmental justice group known for their aggressive tactics. Remember, that was the guy I told you about last night who was causing all the riots in Seattle?
Then, OSI has donated to several groups who are trying to get me off the air. You have Faith in Public Life, that's funded by OSI. They're calling for my head.
You have Sojourners, of course. They're calling for my head.
You have "Media Matters."
All of them out of the pocket of George Soros.
Mark my words. And I believe I said that for the last two years on inflation. As I told you, massive inflation will come and you're beginning to see it now. Staged demonstrations and riots in the streets, you will see them here.
What you're seeing today in the U.K., these students demonstrating in the streets. That's a demonstration, by the way. They will come here, too, because what are they rioting about? That they are cutting services at schools and raising tuitions. Really?
Well, they will come, and they will be orchestrated, funded, or they will be exploited by Soros-like groups. If you're watching this show, and George Soros is the puppet master, so I'm sure he's having somebody else watch it, what happens? What happens to all of these groups? What happens to all of these groups?
This man is playing god. He thinks he's god. God created the earth in six days and then rested on the seventh. Well, George Soros has created all of these things.
And believe me, it's not just in fact here. Do you have this?
Yes, come here, Erin. Come here. You stand over here. Stand. Lovely and talented Erin.
These are the open society — these are just the things that he has donated to, I just want to say, because we don't have a lot of time so I wanted to show you the list.
These are the lists of the organization that are involved, you know, in these five steps. And we wrote it out for you, but I just wanted to show you that, you know, it's no big deal. It's not like you're overpowered or anything like this.
There is more. This is less than half of them. But other than that, there is nothing to see here. Just move on with your lives. Nothing to see here, folks.
http://www.foxnews.com/story/0,2933,602143,00.html
Tuesday, November 9, 2010
The Feds Biggest Fear
Last week’s decision by the Fed to start another round of Quantitative Easing was met with only one dissenting vote by the Federal Open Market Committee. That does not mean everybody in the rest of the world thinks this is a good idea. Any country holding dollars is faced with a decrease in buying power. Some of the most powerful members of the G-20 are highly critical of the Fed’s money printing. Germany, Brazil and China all made negative comments about the Fed’s latest round of QE in a Bloomberg article over the weekend. It reported,
“It’s our problem as well if the U.S. is no longer certain that the old recipes don’t work anymore,” German Finance Minister Wolfgang Schaeuble said yesterday in Berlin. The Fed’s injection of $600 billion was “clueless” and won’t revive growth, he said. Brazil’s central bank president, Henrique Meirelles, said “excess liquidity” in the U.S. economy is creating “risks for everyone.” In China, Vice Foreign Minister Cui Tiankai said “many countries are worried about the impact of the policy on their economies.” He also said the U.S. “owes us some explanation on their decision on quantitative easing.”
Still, Fed Chief Bernanke is unwavering in the decision to print money to revive the economy. The same Bloomberg article quoted Mr. Bernanke, “Our first objective, the first goal that we have, is to meet our mandate to get price stability and maximum employment in the United States . . . A strong U.S. economy, a recovering economy, is critical not just for Americans but it’s also critical for the global recovery.” The rest of the world is clearly not buying the idea that the Fed is saving the world economy. So what would make the Fed so defiant in the face of such global criticism? I think the Fed is really worried about mortgageinterest rates and declining home prices. I bring out my favorite updated chart of mortgage resets for adjustable rate mortgages. The chart below shows a tsunami of resets that will not crescendo until late 2012. Study it for yourself:
Look at what happened just a day after the Fed announced $75 billion a month of money printing to buy up Treasuries that, in turn, pushed down interest rates. Frank Nothaft, vice president and chief economist at Freddie Mac, said last week, “With little sign of inflation to push up long-term interest rates, fixed mortgage rates held relatively steady this week, while ARM rates hit new all-time record lows.”
Again, “ARM rates hit new all-time record lows!” That is precisely what the Fed wants. Lower rates are what anyone with an adjustable rate mortgage needs. Lower rates mean lower monthly payments, and that will hopefully keep people in their homes. And, if homeownerscontinue paying their mortgages, that will keep trillions of dollars of mortgage-backed securities from becoming even more devalued. So, the Fed has chosen to support housing prices and let the dollar be damned by printing money.
John Williams at Shadowstats.com says the Fed’s policies are not helping the economy get better. The 151,000 jobs that were created in October “largely were the result of seasonal-adjustment gimmicks,” according to Williams’ latest report (published last Friday). If unemployment was computed the way Bureau of Labor Statistics did it before 1994, it would actually be a stunning 22.5% (also, according to shadowstats.com).
The economy is not getting better–just the opposite, according to Williams, “As the double-dip recession and the federal deficit and related Treasury funding horrors get worse — irrespective of today’s (November 5th) happy report onpayroll employment — the Fed’s monetization of Treasury debt will be increased out of necessity, as part of an ongoing effort at systemic salvation.”
The Fed wants to support housing prices and, thus, support mortgage bonds. If those two legs of the housing market are knocked out, the whole economy could come crashing down. In my mind, that is clearly the Fed’s biggest fear.
Source: http://usawatchdog.com/the-feds-biggest-fear/#more-2914
“It’s our problem as well if the U.S. is no longer certain that the old recipes don’t work anymore,” German Finance Minister Wolfgang Schaeuble said yesterday in Berlin. The Fed’s injection of $600 billion was “clueless” and won’t revive growth, he said. Brazil’s central bank president, Henrique Meirelles, said “excess liquidity” in the U.S. economy is creating “risks for everyone.” In China, Vice Foreign Minister Cui Tiankai said “many countries are worried about the impact of the policy on their economies.” He also said the U.S. “owes us some explanation on their decision on quantitative easing.”
Still, Fed Chief Bernanke is unwavering in the decision to print money to revive the economy. The same Bloomberg article quoted Mr. Bernanke, “Our first objective, the first goal that we have, is to meet our mandate to get price stability and maximum employment in the United States . . . A strong U.S. economy, a recovering economy, is critical not just for Americans but it’s also critical for the global recovery.” The rest of the world is clearly not buying the idea that the Fed is saving the world economy. So what would make the Fed so defiant in the face of such global criticism? I think the Fed is really worried about mortgage
Look at what happened just a day after the Fed announced $75 billion a month of money printing to buy up Treasuries that, in turn, pushed down interest rates. Frank Nothaft, vice president and chief economist at Freddie Mac, said last week, “With little sign of inflation to push up long-term interest rates, fixed mortgage rates held relatively steady this week, while ARM rates hit new all-time record lows.”
Again, “ARM rates hit new all-time record lows!” That is precisely what the Fed wants. Lower rates are what anyone with an adjustable rate mortgage needs. Lower rates mean lower monthly payments, and that will hopefully keep people in their homes. And, if homeowners
John Williams at Shadowstats.com says the Fed’s policies are not helping the economy get better. The 151,000 jobs that were created in October “largely were the result of seasonal-adjustment gimmicks,” according to Williams’ latest report (published last Friday). If unemployment was computed the way Bureau of Labor Statistics did it before 1994, it would actually be a stunning 22.5% (also, according to shadowstats.com).
The economy is not getting better–just the opposite, according to Williams, “As the double-dip recession and the federal deficit and related Treasury funding horrors get worse — irrespective of today’s (November 5th) happy report on
The Fed wants to support housing prices and, thus, support mortgage bonds. If those two legs of the housing market are knocked out, the whole economy could come crashing down. In my mind, that is clearly the Fed’s biggest fear.
Source: http://usawatchdog.com/the-feds-biggest-fear/#more-2914
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