George Soros Turns (Semi) Austrian: "Why I Agree With (Some Of) Hayek"

Tyler Durden's picture

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Cognitive Dissonance's picture

Now that they have successfully started the avalanche it's time for all the midnight conversions. Let the real money hoarding begin.

Arius's picture

"That is why I was so pleased to accept this invitation to the Cato Institute."

I love it when he appears like a know just happened to pop in...walking right down the street and stopped by...

btw...with all whats going on...none has time to notice over here but it was really a great wedding over in UK of another commoner into the throne...the world is really changing ready or not....

Cognitive Dissonance's picture

I guess the inbreeding experiments were finally judged a failure and they are trying to expand the royal gene pool.

Where's the chlorine when you need it?

Arius's picture

if they are trying to expand the gene pool they would be well advised to include some of your lineal descendants in the potential pool... :-)

Cognitive Dissonance's picture

Now that would really gum up the works.

I say use the chlorine and reboot. In fact I would argue that's exactly what they are doing.

Creed's picture

Soros is an evil fuck, but he aint stupid.


+ about a bajillion there




chumbawamba's picture

He's not so much evil as just self-aggrandizing.  And his "theory" is complete garbage.  His "reflexivity" is just an over-complicated description of the "invisivible hand of the marketplace".

Fuck this stupid Statist fraud.  I say we lop his balls off first.

I am Chumbawamba.

Cognitive Dissonance's picture

I wasn't talking about real money hoarding by Soros, but rather by the rest of the unwashed. I see these first signs of (fake) conversion as an early indicator that the economic washing machine is on the spin cycle and it's out of control. All hands on deck and every man, woman and child for themselves.

SWRichmond's picture

I was personally most revulsed by Soros' crass and unforgivable inclusion of himself in a conversation that had anything to do with Hayek, thereby trying to elevate himself to the same level of credibility.  Just another rich guy running around saying "I'm rich, therefore I'm smart and you should care what I think."

Would any of you like to hear my professional critique of the Theory of General Relativity?  I didn't think so.

Missing_Link's picture

Well said.  Ever since Soros bought the 2008 elections for Obama he's been convinced he's the center of the universe.

macholatte's picture

Here you have it in the very first sentence>>>>

Friedrich Hayek is generally regarded as the apostle of a brand of economics which holds that the market will assure the optimal allocation of resources — as long as the government doesn’t interfere.


That was the way it was then. Today it should read like this:

 " long as the Soros Machine doesn’t interfere."

Interference is what Soros is really good at. So the rest of his thesis is just irrelevant mumbo jumbo.




High Plains Drifter's picture

glenn beck, says that soros is the man with the plan behind trump. trump is really a democrat and they are just playing games........and to think, all of those idiotic tea party people saying they like trump. what fools , the amerikans are.......

chumbawamba's picture

Yeah, vote for the other guy that will be presented as your alternate choice, because I'm sure that guy will fix everything.

I am Chumbawamba.

Imminent Crucible's picture

Soros begins with a lie, deliberately confusing Hayek's efficiency of free markets with "Efficient Market Hypothesis".  If he starts with a lie, you know he'll end with a theft.

What a despicable human being.

Cognitive Dissonance's picture

For the elite lies and lying is simply a commodity to be used, traded and replenished. It's not personal.........unless you're on the wrong end of the lie.

macholatte's picture

"All that is needed for evil to triumph is for good men to do nothing."   - -Edmund Burke

"History is written by the victors." -Machiavelli

"Those who cannot remember the past are condemned to repeat it." -George Santayana (1863-1952),



AnAnonymous's picture

For the elite lies and lying is simply a commodity to be used, traded and replenished. It's not personal.........unless you're on the wrong end of the lie.


Because the common US citizen behaves differently?

There is no discontinuity between the US elite and its US base. Only resentment by some US citizens who wish they were elite or are no longer part of the US base.

Sean7k's picture

I had to laugh at his explanation of equilibrium and bubbles being the two extremes. I guess he just shot past deflation- the actual opposite to a bubble/inflation. Equilibrium is in the middle big guy- probably why they call it equilibrium.

Of course, that would have shot his whole argument down- guess that's why he framed it in those terms. 

Have to love it when these socialists tie together communism and efficient allocation of markets. Free markets- communism- boo!

Government equals control and control is the polar opposite of liberty. You can't have freedom and government. 

Regulation? When has that ever worked? Really, except for the Soro's of the world. They write the regulations via their paid assistants (congressman, presidents, supreme court justices), have them administered and upheld as law. This is totalitarian rule by the wealthy painted as democracy.

Soros, you couldn't hold a candle to Hayek. But then, I don't hear too many people proclaiming that besides you- jerk.

RichardP's picture

You can't have freedom and government.

That is a seriously uninformed statement, and too general to boot.

There is no such thing as absolute freedom, so the only thing we can discuss is constrained freedom, and then define the term:  freedom from what?  Or freedom to do what?  Society is group interaction, with each group trying to gain an advantage over the other.  Thus, freedom for one group generally means lack of freedom for another group.  In creating and imposing rules, governments create freedoms for some groups at the expense of curtailing freedoms for others.

Examples:  With no traffic rules, gridlock results fairly quickly and no one is free to move.  With traffic rules enforced, everybody is free to get from Point A to Point B with relative ease.  Child labor laws create freedom for the child to be a child.  Business looses the freedom to exploit cheap labor.  Interstate commerce law create freedom for businesses to know what to expect when doing business in multiple states.  There are many more examples.

Sean7k's picture

Actually, there is such a thing as absolute freedom. However, it is difficult to attain in a world of government. Thus, my statement. It assumes you can identify polar opposites and apply reason to the reality for most people or constrained freedom. 

Here, you miss the mark. Governmnet cannot create freedom. It can only impose law. There is never freedom in the law, there is only control of varying degrees and for various people.

Examples: traffic rules have nothing to do with government. Any group of people can come up with a set of rules and agree to employ them- sans a police power. In fact, that is where AAA came from, along with the use of signs and general rules of the road. Unfortunately, governmnet has determined that there are opportunities for taxation and fees causing driving to become part freedom and part concern for the lurking taxman.

Child labor laws forced families to change their economic structure as wages were lost. While workplace conditions improved for children, it made them less employable and caused the family to make difficult decisions about how to care for them. Employers found new groups to take advantage of- immigrants and prison labor. The children then were forced to attend a mandatory education system where they were inculcated with propaganda and a declining quality of learning. There is little freedom in ignorance.

Interstate commerce laws do nothing more than enrich one group at the expense of another. They have been further utilized to accumulate power in the federal branch at the expense of the states. While it has been used to benefit those who suffered from racism, etc. , in general, it has merely amassed power and restrained freedom.

You suffer from a common ailment or illusion: that government is necessary. Outside of providing some form of common defense, there is not one social action that cannot be provided by citizens acting in community. 

All governments are run by a small minority for their own benefit. The police power of the state never lessens, it only grows. Consequently, your freedoms disappear with it. You may enjoy being told what you can say or watch. What your children will learn and how. Lied to about history and events. Taxed and fee'd to the point where half your earnings are confiscated. Emails intercepted and phone calls listened to. Gropped at airports. Eating poisoned food, breathing poisoned air and drinking poisoned water. Told what you can do on your property, a property you can never own. You may even enjoy the manipulation of markets and the protection of bankers with YOUR tax dollars. 

Your concept of freedom is exactly what the government would have you believe.

i-dog's picture

+1, again. Nicely done.

Actually, I see an opportunity for a Free State (an oxymoron, I know, but I'll stick with it for the purpose of illustration) that could be created with the breakup of the former USA.

Let's say the states on the 'left coast' were to form a "perfect union" of high taxation welfare states ... and the states on the 'right coast' were to form a "perfect union" of plantations, slave labour, modest or no taxation, massive tariffs and an aggressive military [again].

That would leave some states in the 'centre' to form a chain of free 'states' - from North Dakota to Texas - with no government and totally free trade and travel between each other and the left and right coasts. Competing service providers would cater for everything from banking, currencies and communications to garbage collection and road maintenance. Workers and investors from Mexico and Canada would also be welcome.

Defence would be adequately catered for with a few strategically hidden nukes that would discourage the left coast from looting and the right coast from colonising ... such nukes maintained by voluntary funding from those citizens who were actually concerned about an invasion from either side. (But what would invaders achieve ... with no tax base and bureaucracy for the left coast to raid and a well-armed populace to resist colonists from the right coast?)

Just some instant thoughts.

blunderdog's picture

I think if you want to dismantle the USA, just do it right and forget all that federated talk of states.

i-dog's picture

That's my preference, too. But there will always be the raghead-fearing warmongers who will never let go of a government that doesn't have an offensive military capability, and socialists who will never let go of a nanny state, and some (like me) who want government out of the picture altogether. Problem solved ... rather than another 2 centuries of trying to get everyone on the same page under a single government!

mdwagner's picture

The only thing we need to be protected from is monopolies.  We also have the added problem of government shifting risk to taxpayers which protects the free-market regulator of failure.

Baptiste Say's picture

Name a monopoly that came to exist without the government.


Only one most can think of is De Beers and even then it is not valid because there is a huge amount of government approvals needed to open a mine, where approvals are needed corruption exists.

punishmentnotrevenge's picture

Nothing to see here folks!  Keep moving..., Oh look a royal wedding, Oh look the Trump said Fuck! Never mind the rednecks in the South the'll be ah-right. Gold 1550, Silver approaching 50 and oil still cruzin!  Oh yeah the frikin loony at .95 on the dollar.  Nothing wrong, nope we're good!


punishmentnotrevenge's picture

Nothing to see here folks!  Keep moving..., Oh look a royal wedding, Oh look the Trump said Fuck! Never mind the rednecks in the South the'll be ah-right. Gold 1550, Silver approaching 50 and oil still cruzin!  Oh yeah the frikin loony at .95 on the dollar.  Nothing wrong, nope we're good!


ambrosiac's picture


> Though I am often painted as the representative of the far left




bania's picture

Where does Palpatine find the time to write this stuff?

BobPaulson's picture

You're implying he wrote this?

Doode's picture

If you read any of his books - which were amazingingly on point about markets you could easily tell it was in fact written by Soros. Stylistically identical to all of this previous work.

dark pools of soros's picture

he speaks it and his lesser demon minions scribe his words using debt prisoner soul's as ink 

Pool Shark's picture


Never underestimate the power of a Sith...


Mongo's picture

What a SOB.



Confuchius's picture

Anything sikos sez is bound to be a sick joke.

redpill's picture

but but but it was the COMMUNISTS!!!

Dr. No's picture

Said Chancellor Palpatine to the Senate in hopes of gaining support for his initiatives.

bob_dabolina's picture

This is positive. Moving towards the Austrian school of econ. 

Now if only we could turn him from being a staunch communist to a liberatrian the world would be a better place.

ATM's picture

Communists??? - No.

Arogant, authoritarian, fuckhead - yes. 

Spitzer's picture

How did Jim Rogers and the ugly fuck ever get along ?

Confuchius's picture

Now we've found the perfect boy?friend for Blythe...

Ropingdown's picture

Rogers and Soros worked together during a period in which both men wanted one thing, to make money trading, lots of it.  Soros is now in his Seeking Intellectual Repute phase, in which he seeks to construct theories that reveal a basis for his prior success.  The need he has is to be esteemed for something other than jumping big on the mispriced currencies and bonds of weak governments.  He wants to be Marx now, no longer Beria, just taking out currencies and shooting them.  He wants to explain why they had to be shot.

Creed's picture

 He wants to be Marx now, no longer Beria, just taking out currencies and shooting them.  He wants to explain why they had to be shot.



very nice


since you seem to know a lot about him, did his original fortune stem from his activities in hauling Jews out for the Nazis? or was that family money or derived from later good works