The real hobby is spending money for other people Section 1 Soros, a troublemaker One man who took on an entire country and its currency operation with his own money and succeeded was 66-year-old billionaire George Soros.The country is Thailand and its currency is the baht. Are we going to repeat the old trick now?How did someone like Soros prepare to hit the baht?How did he make billions of dollars in profit from the baht?He needs patience, a lot of money (Soros can manipulate 15 billion mark funds) and an economic crisis (like the current crisis in Thailand). This tiger cub in Thailand was injured.At this time, the "bad boys in the international financial community" were dispatched, and Soros' approach was very simple: he just spread rumors.His words are the golden rule for speculators all over the world.Lies spread like wildfire all over the world.

Germany's "Frankfurter Allgemeine Zeitung" wrote on June 1: "A big speculator like Soros does not rule out the possibility of devaluing antimony by 20 or more percentage points." It was a death sentence for Baht.Now speculators around the world know this: sell the baht, sell Thai stocks. But the Thai government was helpless.The last way out is: it loosened the exchange rate of the Thai baht (it used to be pegged to the US dollar) on July 2, and the consequence was that the Thai baht fell into free fall. 1 dollar can buy 30 baht (previously it was nearly 20 baht). Soros is now waiting for the Thai baht to hit its lowest point before buying large quantities of the baht and Thai stocks.Speculators around the world are waiting for Soros to signal.As soon as he bought it, everyone bought it, and the Thai baht and stocks also rose.As the market rises, the trading profits of the exchange will flow into his private pocket.He fought the central bank against the worst fears of the stock exchange speculators and succeeded again.

Soros as a stock market genius "The next financial crisis will definitely come. The only question is when." This was announced by George Soros in New York not long ago.He bet his billions against the Thai baht, stoking the flames of a crisis-ridden Thailand with apathy and silence.Stanley Druckenmiller, manager of the Soros Quantum Foundation, beamed after Thailand's central bank capitulated in July 1997, gleefully admitting: "We made a profit." In fact, Soros became famous around the world in 1992, when the Bank of England had to bow down to the former Hungarian.Through currency speculation, Soros has amassed a private fortune of more than $100 million for himself while increasing the wealth of his investors.Soros is spending the money generously.He is the largest merciful family in America, and possibly the world.The foundation he established, the Open Society Institute, has more than 50 branches around the world and employs more than 1,000 people.

The big speculator born in 1930 had withdrawn from daily trading as early as 1989.He is only actively involved when there is such a big move as an attack on the pound or the Thai baht.In such an action, no one would give up the use of the old man's discernment. soros as an amateur philosopher Although he has the means to enjoy all the luxuries in the world, George Soros has little interest in them, and his life is very simple.His real hobby is spending money on other people.If interested in a charitable project, Soros will generously provide funding for it, for which he can shell out $100 million in a day.There was only one thing Soros didn't pay a dime for: Jewish projects. "I remain neutral," said the Hungarian-born Jew.

Soros wanted to save the whole world.The financial speculator admits he sometimes sees himself as a god.Regardless, the good deeds of the self-made billionaire cannot be denied.For example, he contributed more than $50 million to aid measures in war-torn Bosnia and the construction of an emergency water system in Sarajevo.In order to prevent Russian scientists from serving the dictators in the Middle East after the collapse of the Soviet Union, Soros paid nearly a third of their annual salaries. Soros' desire to improve the world is inseparable from his personal experience.However, the amateur philosopher could not tolerate a completely twisted theory to explain his good deeds.Soros believes that meta-tempered capitalism has become the greatest threat to free humanity."I can only warn again and again about blind trust in the magic of the market," he said. "It is the fault of governments that there is room for speculation in the market."

The greatest influence on Soros was the British philosopher Karl Popper, whom Soros attended while studying at the London School of Economics.Popper's book "The Open Society and Its Enemies" provides a suitable theoretical basis for Soros to declare war on the world's authoritarian regimes.Soros experienced firsthand the tyranny of dictatorships.As a Jewish child during the Nazi occupation of Hungary, Soros was hidden by his father in the home of a Christian government official with doctored identification.After the victory of World War II, the Soros family immigrated to England.

Soros has always regarded himself as a "person who failed to realize his ambition as a philosopher".If you read his recent tirade on globalization, you must come to the same impression.In doing so, he proved, according to Johns Hopkins University's Steve Hanke, that "a good head and a lot of money don't necessarily go hand in hand." Soros himself thought he was not too far from insanity.His grandfather was paranoid.He also occasionally fantasizes that he will go crazy.Worries about his personal health led him to seek meaning in life, which led him to found the Open Society Institute.

Soros was seen as a man of erratic, fast-thinking minds."He (Soros) has an unbelievable intuition about the market," said his longtime friend and boss of Morgan Stanley Asset Management Barton Biggs. Of course, that doesn't guarantee that the financial acrobat will make the occasional misstep.For example, in 1994, he lost 600 million US dollars in a single day in the speculation on the counterparty currency, for which he was personally responsible. George Soros will never be forgiven by the Bank of England in his lifetime. In 1992 he placed a huge bet against the pound, severely undermining Britain's efforts to prevent its currency from devaluing and forcing Britain out of the European monetary system.

Soros as a philanthropist For a super exploiter like Soros who makes money without blinking, it is very interesting that in 1997, as a philanthropist, he was rated as one of the "most influential people in the United States" by the Americans themselves. one. George Soros has a lot of money, and he himself said: "I am still a super capitalist." Before the outbreak of the Southeast Asian financial crisis, he had a personal wealth of about 2.5 billion US dollars, a large part of which was his overseas currency market. It was exploited by wantonly speculative activities on the Internet.

Soros has been in the news lately for his generosity. In 1996, he donated 350 million US dollars and became a famous American philanthropist.He also attracted controversy by donating money to a number of hot-button political causes related to his personal "open society" advocacy, and by writing deviant op-eds on liberal capitalism. At the same time, the Hungarian-born Jew who lived through the Nazi and Communist eras poured millions more into Eastern Europe. While he remains one of Eastern Europe's philanthropic forces, he has begun shifting much of his philanthropic activity to the United States. In 1996 he donated $1 million to help California and Arizona pass citizen initiatives legalizing medical marijuana; to a "hospice" program aimed at providing more humane and practical treatment for the terminally ill Donated $15 million; $50 million to a fund to help legal immigrants; and another $12 million to improve math instruction in older urban and rural areas.

Actively participating in social welfare undertakings has brought Soros more than just friends.The Clinton administration, for example, was disappointed when Soros donated $16 million to support groups advocating an open market for soft drugs.In addition, Soros is an unrelenting opponent of extreme regimes.He even criticized conservative politicians for their nationalist tendencies.For example.Czech Prime Minister Vaclav Klaus was regarded by Soros as "the embodiment of the worst Western democratic system". In fact, Soros should be placed on some kind of American roster as a "patriot" (not the missile of the same name), because he used the money he scooped up from all over the world for charity, or the general public of the United States.For the people of the world in 1997, especially for the people of Southeast Asian countries, Soros probably should have enjoyed a certain reputation as "the number one international thief who robbed houses and houses". It seems that Mr. Soros is really a complicated character. How much did you get in the second quarter this time? Malaysian Prime Minister Mahathir, who has always been quick to speak and has repeatedly made Americans troubled, declared that Malaysia suffered extremely heavy losses in this robbery when he saw the financial crisis in Southeast Asia coming to an end in early September 1997. He lost a total of 40 people. 100 million US dollars of foreign exchange reserves, and if calculated from the currency turmoil at the beginning of the year in Thailand to the present, the 12 richest people in Malaysia alone have lost 13.92 billion US dollars.Mahathir gritted his teeth and cursed that that damned George Soros had ruined the country's 40 years of economic success. So, how much did George Soros, known as the "big speculator" gain in this financial turmoil? The recent American "Business Week" provided some kind of answer for the world. The magazine claimed that the performance of the Quantum Foundation managed by Soros disappointed investors throughout 1996, and the performance from the beginning of 1997 to the end of June was not very brilliant. It was not until July that the foundation's performance made great strides Leap forward, doubled the profit in the first 6 months. In 1996, the U.S. Dow Jones Industrial Index rose by 22 percent, but the Quantum Foundation, with George Soros as the chairman of the board of directors, lingered in the trough. Compared with those little-known foundations on Wall Street, it is simply dwarfed and eclipsed. For Soros.This was one of the toughest tests he had ever faced.He changed his semi-retired and semi-reclusive lifestyle, hid from the public and behind the scenes, carefully planned and launched a series of quantum counterattacks in order to regain his reputation. In the first half of 1997, although the performance of the Quantum Fund increased by 14 percent, compared with the 20.6 percent increase of the Dow Jones Index, there was still no capital to brag about. This meant that investors invested in the Quantum Fund The rebates obtained by the clubhouse are not as good as buying American blue chip stocks. Soros was really in a hurry.He thought that he was already sixty-six this year, and if there was any trouble at this time, wouldn't it mean that he would ruin his reputation for the rest of his life.So, like an ant in a hot pot, he ran around here and there, and finally, his hard work paid off, and he had his eyes on the big fat in the Southeast Asian market. In the month from the end of June to the end of July 1997, the growth rate of the Quantum Foundation rose from 14 percent to 27.1 percent in one fell swoop, almost boosting the profit in the first half of the year. The total assets at the end of the month had risen to 17 billion US dollars, and the total assets before the financial turmoil were about 15 billion US dollars. Therefore, according to this calculation, Soros' killing of Southeast Asian countries has created about 2 billion US dollars in profit for his organization. So, where does the profit of Quantum Foundation come from?The US "Business Weekly" believes that the Thai baht, Malaysian ringgit and Indonesian rupiah among Southeast Asian currencies have directly contributed to the profit of Quantum Fund. Of course, Soros and the Quantum Foundation led by him are not the only ones playing a role in this financial turmoil.Among the impact fund organizations in the world, the "Tiger Fund" (Tiger Fund) and its subordinate "Jaguar Fund" (Jaguar Fund), which is second only to Quantum Fund in assets, sold a large number of Thai baht and other funds in the storm. Southeast Asian currencies are making waves and showing their teeth and claws, which is exactly the same as the Quantum Fund. Once the Thai baht fell to the bottom, the profit of the Jaguar Fund since the beginning of 1997 has risen from a negligible 0.7 percentage points to 11.7 percentage points. Concerned about fund trends Everyone knows that this foundation has been bearish on the U.S. stock market this year, so it is self-evident that 11% of the profit comes directly from the raids on the currencies of Southeast Asian countries. It can be seen that Soros is not fighting a group of Asian tigers alone, but has a group of jaguars on his side.