The Truth Behind George Soros — Is The Conspiracy Legit?

Hey guys, welcome back to the show. Today we're gonna talk about Mr. George Soros, one of the greatest investors of all time, runs the Quantum Fund. I'm gonna tell you a little bit about his background story, how he launched his first funds. And if you've been following the news for the past, I don't know, 2 decades, you've seen Soros a lot in the news. Everybody's been talking about George Soros, and not for his investing practices, it's for what he does with his money now. Now George Soros is one of the greatest philanthropists of all time, giving away a lot of money to different groups, individuals. But a lot of theories and conspiracists will say that George Soros is behind a lot of the different movements that have happened over the last 20 years. And recently a lot of people have talked about the Black Lives Matter movement. You've seen on the news or other places, you see piles of bricks and cars set up outside of places where protests are going on as bait cars or bait bricks for them to go and riot and destroy their cities. We've all seen reports of protesters being paid and transported on buses to different places. Actually, just nearby me, there was a few protesters that were paid to be there protesting. Now, no one really knows what's behind this, but could it be George Soros? Other people have mentioned that he's had caravans of people coming from Venezuela and other South American countries to the southern border to push his political agendas. So today's gonna be a fun episode. We're gonna dive into conspiracy theories, go really deep. We'll see what happens there. We'll go down a few rabbit holes, but also we'll talk about his investing career, how he launched the Quantum Fund, one of the most successful funds of all time, how they took on the Thai government, The British pound and a few other major world players with his fund. So who is George Soros? George Soros was born in 1930. He actually turns 90 years old in a couple of weeks. Probably the post— when you see this episode, he might already be 90 years old. And they in Hungary, it was occupied by Germany. Nazi Germany was 14 years old. George Soros is a Jew. At the time, Nazis didn't like Jews, obviously. They purchased documents to say they were Christian and that he was the godson of the minister of some government official. And they finally got out of Hungary and moved to England. After moving to London, George was a smart guy. He landed a spot at the School of Economics in London and became a student of the famous Karl Popper. At the time, he worked as a railway porter and a waiter, working, making about £40 a week. He graduated from the London School of Economics and started his work in the financial services industry. I'm not going to walk you through all of George's earlier career accomplishments, but he does well and he works his way up to working for Arnold and S. Bleichroeder. I hope I said that right. Excuse me, Bleichroeder, if I said that wrong. But he becomes the vice president for this company, it's a financial firm. In 1969, the owners of the business, Arnold and Bleichroeder, Arnold really liked what he was doing and helped him launch his fund as another branch off of what they were currently doing and Arnold was the actual board chairman, board of the directors, head dude For the fund. The fund was called the Double Eagle Hedge Fund. They raised about $2 million and Soros put in actually about $200,000 of his own wealth that he had accumulated along the way. A few years later, Soros and Jim Rogers broke off and started Soros Fund Management and with conflicts of interest, he resigned from the Double Eagle Hedge Fund he had started earlier with his previous investment firm. This fund got renamed to the Quantum Fund is what we know now today as one of the most successful funds of all time. 6 years after launching, they were up to $12 million under management. They were managing inside of their relatively small hedge fund. The fund was named the Quantum Fund because of how they used quantum mechanics to make investing decisions. They were very calculated how they went out and invested in different assets. For instance, George Soros would hire 3 of the best guys from MIT, NASA astronomers, all sorts of people to bring on to help tweak their algorithms and models. Over the next decade, they had grown up to $400 million under management, had done very well until they started losing money. Everyone's happy till you start losing money. And in 1981, they suffered a 22% loss in 1 year and half of investors pulled Pulled their money out and they shrunk the fund down to $200 million. But what made Soros famous and put them on the map, the Quantum Fund, is what happened in 1992 and how Soros took on the Bank of England and the British pound from his fund. And this starts, I think a lot of the conspiracies come of this, of how Soros would come after entire governments and central banks. Because previous to this, it was, you know, central banks had the most power, the most money, and funds were below that until George Soros did this and took on the British pound. In 1992, George Soros took on a massive short position, a huge short position on the British pound, a $10 billion short on the pound. And the book More Money Than God goes very in detail about how this worked, how there was pressure from both sides. The Bank of England said, you can't do this to us, we're gonna stick it. And they were trying to raise money to push the currency up and the pound up, while Soros was grabbing more and more funds to come with him to push the pound down. It was a battle between private funds and central banks. And ultimately, on Black Wednesday, the pound fell and Soros took home a whopping $1 billion on that short. After this huge success, they're all over Wall Street. Everyone loves now George Soros, the Quantum Fund, this massive, amazing fund that has these huge risks, took on a central bank and won. He did the same thing in Finland, took on their central currency and shorted their markets, went to Thailand a few years later, did the same thing there. And a lot of people now talk about George Soros as this corporate raider, this government currency raider. He'll come in, raid your entire government, your currency, devalue things and buy up assets and help his fund make more and more money. Now, this is where we break into the conspiracy realm of, I think, why a lot of conspiracies have come up about George Soros and why a lot of people are talking about this on the internet. For instance, in the last couple months, George Soros had about 20,000 impressions or words a day that were posted about him prior to Black Lives Matter and prior to the coronavirus outbreak. Since those outbreaks, it's been up to 500,000 posts a day. About George Soros, and most of them being conspiracy theory topics. Many people blame him for what happened in Venezuela because of the stuff that happened in England and Finland and Thailand and a few other countries. Why not Venezuela? And did George Soros have a huge play in devaluing their currency, destabilizing a country so that he could come in and buy up assets? Other people mentioned that George Soros just went in and bought up a lot of land and property in Minnesota after the Black Lives Matter riots, after George Floyd's death. Now, since these big wins in the '90s, George has become very involved in politics. In the 2003-2004 election, he did not want George W. Bush to win. He donated over $23 million to different campaigns. 500— I think, what is it, 527 groups from my monitor here. 527 groups he donated to to stop George W. Bush from being elected. George has been an active donator of the Democratic Party, which is totally fine. However, people put it even further of that he is funding a lot of these far-left Antifa practices that are going on. So for example, if you watch the news, I mentioned this earlier, you've seen piles of bricks and cars as bait cars outside of buildings and places downtown. Many people have blamed George Soros for dumping gasoline figuratively and literally on the country with these riots and protests that have gone on the last couple months. Now, through his societies and donation, he donates about a billion dollars to different economic and political institutions a year, and he's one of the most active philanthropists on the planet. Other people have said he's been behind the women's rally that happened in 2018. He's behind the caravans that have been coming to the southern border, have all been bought and paid for by George Soros to push his political agenda or to help his fund come in and buy up different assets around the world. It's gone so far that the government of Israel will not even let him donate to any organization inside of their government and country. That's how scared Israel is of his money and power, what he can do. So a few takeaways from this episode. Number one, George Soros came from nothing, Nazi Germany, started a fund, did very well, was very successful, and took on some of the biggest players in the industry. Number 2 is if you are concerned about politics, about what's going on, about what's happening in the world, a fund is a very great way to push your agenda. Now, I do not know how involved George Soros is, what's happened with the political side of things. I think it's fun to talk about and explore and go down different rabbit holes of what actually happened in Venezuela with him or Or different caravans and Black Lives Matter and the coronavirus. You've seen all the conspiracies around those things. But what I do know is this, is when you have a lot of money, especially when you run a fund and the people you meet because you run a fund, it allows you to push your political agendas, your social agendas, whatever agenda you have, it allows you to push it more and more effectively. So when we talk about starting a fund and launching a fund, it gives fund managers a lot of power in the world to push different agendas. So I thought today would be a fun episode, go down some rabbit holes, tell you the story of George Soros, incredible investor, has done very well on his Quantum Fund, and in 2011, since the Frank Dodd Act, George Soros actually changed a lot of his stuff because of SEC regulation and made his fund a closed fund. He kicked out a lot of investors and said, this is a private family office for myself, my family's own fortune, and some of our good friends and billionaires that want to put money into the Quantum Fund. This is a similar thing that James Simons did to his fund where you can't even give him more money, right? So a lot of these top fund managers, you have to have a very high net worth to even talk to them, and they haven't taken new investment for over a decade.