Best 182 quotes of George Soros on MyQuotes

George Soros

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    George Soros

    Advocating democracy has, by other people, often been taken as a form of imperialism, and not without some justification. So the important thing in a democracy is that it doesn't necessarily have to agree with what America's interests are, and it doesn't necessarily have to be serving American interests.

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    George Soros

    A full and fair discussion is essential to democracy.

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    George Soros

    A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.

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    George Soros

    A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.

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    George Soros

    Although I have made a fortune in the financial markets, I now fear that the untrammeled intensification of laissez-faire capitalism and the spread of market values into all areas of life is endangering our open and democratic society. The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

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    George Soros

    America felt victorious and generous after World War II. They had also learned from the mistakes after World War I when they imposed punishment on Germany. What became of Germany? A Nazi dictatorship which threatened the world. Today's Germany doesn't feel as prosperous and generous as America then. But actually, Germany still is very prosperous.

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    George Soros

    America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.

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    George Soros

    American supremacy is the greatest threat to the world today.

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    George Soros

    An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.

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    George Soros

    Anticipating attacks, I should like to emphasize that I do not subscribe to the myths propagated by enemies of Israel and I am not blaming Jews for anti-Semitism. Anti-Semitism predates the birth of Israel. Neither Israel's policies nor the critics of those policies should be held responsible for anti-Semitism. At the same time, I do believe that attitudes toward Israel are influenced by Israel's policies, and attitudes toward the Jewish community are influenced by the pro-Israel lobby's success in suppressing divergent views.

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    George Soros

    Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.

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    George Soros

    As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.

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    George Soros

    As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.

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    George Soros

    As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

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    George Soros

    At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.

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    George Soros

    By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

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    George Soros

    China could easily emerge as the great winner if the Chinese leaders handle the situation well. On the other hand, they could also turn out to be the biggest losers if they handle it poorly. If the management turns out be wrong, this could lead to a political crisis in China.

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    George Soros

    Discount the obvious, bet on the unexpected

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    George Soros

    Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.

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    George Soros

    Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.

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    George Soros

    Esperanto was a very useful language, because wherever you went, you found someone to speak with.

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    George Soros

    Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.

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    George Soros

    Every bubble has two components: something - some real trend, and a misconception about that trend.

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    George Soros

    Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.

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    George Soros

    Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

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    George Soros

    Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.

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    George Soros

    Find the trend whose premise is false, and bet against it.

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    George Soros

    Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values

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    George Soros

    Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.

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    George Soros

    Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.

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    George Soros

    Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.

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    George Soros

    Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.

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    George Soros

    Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.

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    George Soros

    However, even a strong government can't perform miracles. It needs money from the taxpayers.

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    George Soros

    However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.

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    George Soros

    I admire Chancellor Merkel for her leadership qualities, but she is leading Europe in the wrong direction.

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    George Soros

    I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful - but also very harmful to our society.

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    George Soros

    I am for maximum supervision and minimum regulation.

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    George Soros

    I am not a Zionist, nor am I am a practicing Jew, but I have a great deal of sympathy for my fellow Jews and a deep concern for the survival of Israel.

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    George Soros

    I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.

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    George Soros

    I called gold the ultimate bubble, which means it may go higher. But it’s certainly not safe and it’s not going to last forever.

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    George Soros

    I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.

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    George Soros

    I chose America as my home because I value freedom and democracy, civil liberties and an open society.

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    George Soros

    I contend that financial markets never reflect the underlying reality accurately; they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.

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    George Soros

    I don't panic. The same thing applies to me as to everybody else, so I'm given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.

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    George Soros

    I don't use my money to gain political influence for my private interests, which is what many rich people do, and what, in a sense, market fundamentalism does, because it is in the interests of people who have a lot of money to have as little taxes as possible.

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    George Soros

    I fancied myself as some kind of god or an economic reformer like Keynes

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    George Soros

    If every rich person gave 50 percent of their wealth to charity, I would not say they should pay more taxes.

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    George Soros

    If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

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    George Soros

    If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.