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Hugh Hendry: "I Want To Bring George Soros Down"
In this interview by Bloomberg's Erik Shatzker (we have added the full interview, not the abbreviated version), Hugh Hendry tries hard not to dance on the euro's grave... and fails. He compares the European currency to the gold standard in the 1920's: "We are now seeing a conflict between domestic stability, prosperity and the need for external balance, and that typically rings the bell on such a system." He further discusses George Soros' recent media appearances and his recent Op-Ed in which as was noted, the Hungarian is very concerned about the eurozone courtesy of Germany's non-Keynesian actions. In tried and true fashion, Hendry doesn't mince his words: "George is someone we all aspire to match his brilliance. But remember the richest people in the planet become socialists. Socialism is a great thing for George. I want to bring George down. I want George's reputation. But George is now embracing socialism. Socialism is where you build a moat around the castle. I am spending all of my time trying to decide where I'm gonna live, because taxes country in this are so high, and less of my time trying to work out how do I surpass Soros and his reputation." And his take home message: "The noose is getting tighter and tighter... not in Europe, but in Asia."
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Like him or not, I doubt Soros is hearing any foot steps from Hugh Hendry. Just the 2% asset management fee Soros or Paulson charge clients each year exceeds Hendry's total AUM. I suspect there's a little portfolio envy at work here. Whether I agree with his views or not does not make him right; time will tell if he really is any good as a manager.
As for Soros, I never assume I know what he really thinks. Like most mega HF types, the vast majority of his wealth is in cash. For him, deflation would be a bonanza.
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Sorry guys but I have to call a spade a spade. This guy is a loud mouth moron.
Hendry is putting money on the line, unlike a lot of politicians/economists etc. If he's wrong, he loses his and his clients' money.
I don't think he's wrong - check out his appearances on BBC's Newsnight on YouTube.
He tells it as it is.
DavidC
Posted by David Kramer on June 24, 2010
Billionaire Socialist George “Göring” Soros is back in the news again with his big Bolshevik mouth. Now Soros declares that it is bad that Germany is trying to get its economic house in order by cutting its budget.
“Right now the Germans are dragging their neighbours into deflation, which threatens a long phase of stagnation. And that leads to nationalism, social unrest and xenophobia. Democracy itself could be at risk.” [Right, George "Göring" Soros—it was "deflation" in Germany in the 1920s that set the stage for the rise of your economic predecessors, the National Socialists.]
Here’s another economically-ignorant gem from George “Göring” Soros:
“Germany is globally isolated … Why don’t they let their salaries rise? That would help other EU states to pick up.” [Uh, Hermann George, for an economy to grow and for people to improve their standard of living it is necessary for more goods to be produced against the "low" salaries already in place—not artificially raising one of the costs of production, i.e., salaries.]
Socialist Soros also thinks that it is bad that a fraudulent fiat currency, the Euro, might collapse. (Hmmm, I wonder how much Soros has invested in this currency?)
“German’s budget savings policy risks destroying the European project and a collapse of the euro cannot be ruled out, billionaire investor George Soros said in a newspaper interview released on Wednesday.” [What "European" project, George? The "European" euro project is just a precursor to bringing on a One World fiat currency controlled by the One World Government which you and your Bankster friends have been planning for decades.]
Of course, perhaps this is why George Göring Soros is so upset:
“Ms. Merkel on Monday defended her budget cut plans after U.S. President Barack Obama preached patience in clamping down on public spending.” [Merkel is obviously at odds with Banksters/Soros Puppet-in-Chief Obama's atrocious economic policies which are only prolonging the economic recession/phony recovery that the United States is currently experiencing.]
By the way, for those of you who think I’m being insensitive in referring to my landsman Soros as a Nazi, here’s an interesting transcript from a 1998 60 Minutes interview in which this Jewish man admits to being a Nazi collaborator to save his own life during World War II.
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*I’ve decided to change from referring to George Soros as George “Goebbels” Soros to George “Göring” Soros because I feel that some readers may inadvertently think that I am comparing Soros to the late, great comic George Gobel rather than a premier National Socialist, Joseph Goebbels—whom Soros seems to emulate more and more each passing day. Hermann Göring is an excellent National Socialist replacement for Joseph Goebbels.
http://www.lewrockwell.com/blog/lewrw/archives/60168.html
So whats the score with hugh
he was a money printer and a Bennie lover last year but now he makes sense
has he genuinly seen the light or his he just controlled opposition?
Soros isn't a national socialist (i.e. Fascist or Nazi) he is an international socialist (Communist).
He should be compared to Lenin or Trotsky not Goering or Goebbels