George Soros, the Hungarian-born billionaire investor, is frequently at the center of conspiracy theorists that are pushed by white nationalist groups and other far-right organizations. The fake news media outlet Breitbart has published several articles that detail Soros’ efforts to create a global order. Some Conservatives have also accused George Soros of being the leader of a plot to destroy liberty while reducing the world to communism. Several fascist individuals on the Web even seem to posit that George Soros is akin to Karl Marx or Friedrich Engels.
Despite evidence to the contrary, many right-wing zealots in the United States and other areas believe the conspiracies. The existence of the conspiracies is not surprising. Just as the Sun rises in the East, conspiracy theories are simply a fact of life. However, to understand that the Soros conspiracies are false, one must discover their source. How did George Soros become the villain in many popular theories? By analyzing the events of George Soros’ life, we can discover the answer to this question.
Powerful People Naturally Attract Critics
First, George Soros is one of the most powerful men in the world. With billions of dollars in monetary and physical assets, Soros has numerous ways to influence the opinions of people across the globe. In addition to personal power, George Soros leads a large hedgefund. This hedgefund may inspire a great deal of disdain from people because of their nature. Hedgefunds place bets on events in leading markets. To be a successful hedgefund, managers must correctly predict the outcome of events in advance. For example, to short a particular stock, the managers must be able to predict the decline of the share values. George Soros has developed a track record of successfully predicting events.
George Soros’ success with predicting events has conjured a multitude of responses, but it also is the perfect source material for conspiracies. People unfamiliar with the world of finances can easily think that Soros is manipulating global events to profit from his hedgefunds. In fact, George Soros is accused of manipulating exchange rates and global political events because of his hedgefund success. This is impossible due to the structure of central banks.
In the case of George Soros conspiracy theories, it is best to adhere to Occam’s Razor; the simplest explanation is the most likely explanation. George Soros accurately predicts the direction of market trends by minimizing risks.
The stories about George Soros’ manipulation of currency markets began to circulate the Internet due to his success in the 1990s. In 1992, European exchange rates were fixed. Because of this artificial pricing mechanism, the Sterling pound was elevated above its natural level. This is similar to a bubble emerging in the stock market. George Soros is familiar with the results of price-fixing by central banks, so he understood that the elevated value of the pound would eventually fall. George Soros used his hedgefund to bet against the value of the pound. Soros’ prediction was correct, and he earned about $1.5 billion. Since George Soros shorted the British monetary authority in the currency market, taxpayers in the United Kingdom were left with the bill.
Critics of George Soros argue that this action was unethical as he is essentially betting on a system to fail. But who should truly be blamed for this situation? Soros simply responded to the market signals, but the exchange rates that caused the situation were fixed by the central banks. George Soros was able to repeat this tactic by betting against the actions of the Bank of Japan. Perhaps Soros is sending a message to the world that bankers need to stop harming citizens with unwise economic decisions. In fact, he regularly warns of damaging trends in finance and is a vocal political donor and activist as well, demanding answers to global economic crisis issues from world leaders.
With a total net worth of approximately $25 billion, George Soros is one of the most influential private citizens in the realm of politics. Soros’ opinions can be quite convincing since he has the resources to mobilize people and offer large campaign contributions. George Soros uses these resources to support politicians who believe in a more open society. For Soros, this is a meaningful way to deploy his resources. After all, Soros is a Holocaust survivor who experienced the effects of fascist policies. By creating a world that is tolerant and accepting of diverse cultures, Soros hopes to marginalize nationalist fascism.
Conservative pundits and far-right conspiracy theories have regularly expressed their opposition to Soros’ influence. This hatred of Soros is similar to how the Left despises the activities of the Koch brothers. However, it is important to note that the Koch brothers are not associated with the fascist entities that regularly create Soros conspiracy theories.
People naturally oppose powerful people with strong opposing opinions. Without a deep pool of financial resources, how do people fight back against these powerful interests? In the case of George Soros, the answer is propaganda.
Average citizens do not typically use their time and resources to coordinate propaganda campaigns. The people responsible for conspiracy theories are often profit-seeking opportunists like Infowar’s Alex Jones. Alternatively, moneyed interests that would be harmed by Soros’ efforts are the culprit. For example, after Soros expressed his disapproval of the Iraq War, he was attacked by a series of fresh conspiracy theories. These theories could be the result of Republican loyalists lashing out against a dissenting voice in a time of nationalist fervor. However, it is also possible that the onslaught of attacks came from conservative groups that profit from the military industrial complex.
The Truth About Soros
Conspiracy theorists and Republican personalities regularly accuse Soros of meddling with politics. This is true. As we previously mentioned, Soros uses his financial resources to create a global society that can break free from nationalism and sources of hardship for minorities. However, Soros’ actions are completely legal in the current political system. Until the laws change, Koch, Soros, and other powerful citizens will continue to influence politics with their resource. Perhaps people should use their energy to change the institutions that allow moneyed interests to influence elections.
Soros is also accused of being a communist. This claim is an extraordinary lie. George Soros is a staunch capitalist. In addition to betting against central banks, Soros made a large amount of money by building former Soviet states into stable capitalist economies. George Soros is simply another powerful investor who uses his financial resources in politics. Soros has many enemies, but he is not the financial mastermind that is targeted in numerous conspiracy theories.