As hedge fund legend George Soros takes a survey of the political landscape, increasingly showering Hillary Clinton with campaign cash, it is a global if European perspective that has primarily framed his objectives. A Politico article highlighted how Soros, after a degree of reported disappointment with US President Barack Obama, has gotten back into the game and likes the cut of Clinton’s jib. Just what might Soros want to influence?
Soros political giving climbs for Clinton race
As Soros views the current political landscape, he is keeping a close eye on Europe on several levels, which might be influencing his rather sizable political giving recently. Among other contributions, Soros donated $7 million in June to the Priorities USA Action, a political action committee supporting Clinton, Politico reported. The 85-year-old, estimated to be worth near $24.9 billion, has given more than $25 million recently to boost Clinton and other Democratic causes.
Soros was a veracious detractor of the Republican administration of George W. Bush, donating $27 million in an unsuccessful 2004 effort to elect Democratic candidate John Kerry. Using inflammatory rhetoric, he compared the Bush administration to Nazi Germany, dramatically characterizing the election effort as “a matter of life and death.”
After 2004 he toned down his political giving, supporting the successful campaign of Democrat Barack Obama but expressing some regrets. With Clinton as the Democratic torch holder, Soros has become generous once again. His move to open his wallet is not only significant in and of itself, but also for the fact that it might lubricate the political giving of other liberal billionaires, a point made in the Politico article. But what is it that Soros wants?
Soros, wary of Russia and China, is a supporter of immigration reform, EU unity
While the Hungarian-born Soros, now a New York City resident, may be influencing a US political race, his focus has always been on world affairs – an area where he launched his career.
Soros initially earned fame and fortune by “breaking the Bank of England,” betting against the British currency and confronting the country’s central bank. Soros was said to have made nearly $1 billion on the trade and in the process became one of the few hedge fund managers to fight a major central bank and win.
After a retirement from the trading game, Soros has re-emerged in time to question central bank quantitative monetary and China, increasing exposure to gold among other hedged investments.
Soros was a vocal advocate of Britain remaining in the European Union. Not because of what might happen to Britain, which was the most significant voice during the political discussion, but rather for what might happen to the European Union, a key concern among certain financial insiders if lightly addressed in the mainstream. Clinton as well advocated Britain remain in the EU.
Soros has spoken in the past about an emerging new world order, with China increasingly pushing itself to the center of what could result in confrontation. In fact, Soros predicted war with China more than a year ago. Since then, the South China Sea has only heated up as China asserts its territoriality in what was previously considered international waters. While Soros was mostly on the sidelines at the time, China was quick to attack him regarding his tertiary comments about its currency, demonstrating the continued influence of his opinion on the world stage.
Soros has always had a dislike, even distrust for Russian President Vladimir Putin. He has forcefully advocated for strong involvement in Ukraine, calling the economic situation fixable relative to Greece, advocating that US and European assistance and focus should move in this direction.
Republican Presidential nominee Donald Trump and his apparent affinity for Russia and Putin are not the only things concerning Soros. He has mimicked Democratic party claims that Trump is assisting ISIS in their recruiting efforts and has fought in favor of immigration reform and religious tolerance. Such issues put him diametrically opposed to one side of a political division occurring in the US, but to a larger extent one taking place around the world. The winner of this fight could determine an important trend for the world at large.
We asked Michael Vachon of Soros Management for further information but they did not respond to a request for comment. We also asked Mr. Vachon a specific question which we have never heard a good answer to … so we leave below:
I understand Soros strongly dislikes Putin and I do not like him either – on the other hand, Soros warned (literally) and more than once of a world war with China – I share that fear- I would think ethics aside Russia would be our best ally or in such a case or even if we got them to stay neutral – A disaster would be Russia teaming up with China which seems to be happening even more – If this is a threat of WWIII it feels like we are making the mistakes of 1939 – The British rightfully despised the brutal tactics of Stalin and were not serious about negotiations with the USSR. This policy directly resulted in sending USSR into German hands in Aug 1939 with the announcement of the Molotov Ribbentrop pact – I have had this question for years for the advocates of hawkish policy towards Russia who also share fears of China (Like Soros) and have not heard a good answer.