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Why Is Senate Asking Soros' Opinion????

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posted on Jun, 4 2008 @ 10:03 AM
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This has got to be one of the most inexplicable things I've seen in a long time.

The Senate Commerce Committee is investigating whether oil prices are being manipulated by speculators, and they're calling on one of the largest speculators in the world to give them advice?

Is there any reason to believe that George Soros would be giving honest, unbiased advice on this topic as opposed to self-serving testimony? Soros' hedge fund could have billions invested in positions that will benefit one way or the other based on his testimony.

If Soros is complaining about the "oil bubble" it could very well be that he is short oil (meaning he wins if the price of oil drops). His hedge funds are not transparent, meaning there is no way to know what he's invested in. Further, as a backer of Obama and funder of MoveOn.org, he has a horse in the upcoming race.

So why in the world would the Senate take anything he says seriously? The question should be who is responsible for having Soros even testify.




posted on Jun, 4 2008 @ 10:09 AM
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Jamie, Jamie, Jamie....

You really do like to read your own typed opinions, don't you ?


Why not come back to the other thread where we have been discussing said topic ?

Do you crave ATS points so much or are you simply in love with yourself and your opinions ??

Be good precious



posted on Jun, 4 2008 @ 10:15 AM
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Originally posted by Rilence
Jamie, Jamie, Jamie....

You really do like to read your own typed opinions, don't you ?


Why not come back to the other thread where we have been discussing said topic ?

Do you crave ATS points so much or are you simply in love with yourself and your opinions ??

Be good precious


Why the personal attacks and insults? If there is a thread that's discussing who asked Soros to testify, and how in the world his testimony could be relied upon, please link to such in your post.

No need to self-project your insecurities onto me.



posted on Jun, 4 2008 @ 10:15 AM
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reply to post by jamie83
 


Perhaps because George Soros has poured a ton of money into the Democratic Party (the same party now controlling Congress I might add) over the last several years? They DO need to get their master's orders before they determine policy, you know.

The other side of the political isle hardly has a monopoly on political lobbying and special interests. Not even close.



posted on Jun, 4 2008 @ 10:17 AM
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I'm still waiting for a reply to the questions I asked you on the other post...

Care to address that one or not ???

Peace



posted on Jun, 4 2008 @ 10:17 AM
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reply to post by Rilence
 



Guess it would have been too hard to post a link to this other thread, huh?

Soros had the Senate in his pocket.



posted on Jun, 4 2008 @ 10:18 AM
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reply to post by jerico65
 


Go to the most recent posts list, it aint rocket surgery...

Why should I compensate for the laziness of others ???

Peace



posted on Jun, 4 2008 @ 10:21 AM
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Originally posted by vor78
reply to post by jamie83
 


Perhaps because George Soros has poured a ton of money into the Democratic Party (the same party now controlling Congress I might add) over the last several years? They DO need to get their master's orders before they determine policy, you know.

The other side of the political isle hardly has a monopoly on political lobbying and special interests. Not even close.


This brings up another point. Why is Soros backing the Democrats in the first place? Could it be he's heavily invested in companies or currencies that will benefit if Obama wins?

Or he's heavily short currencies or investments that will decline if the Dems win? Could Soros be short the dollar like he was the British Pound?

More importantly, for all the yammering about speculators driving the oil market, did Soros suggest the first solution would be to make hedge funds reveal their holdings? This would make it very easy to not only determine if the speculators were driving prices, but also allow us to see WHO specifically is doing the speculation.

Did Soros advocate for such full disclosure? If not, he's only there to forward his own agenda.



posted on Jun, 4 2008 @ 10:23 AM
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Originally posted by Rilence
Go to the most recent posts list, it aint rocket surgery...

Why should I compensate for the laziness of others ???


You mean the one about "joseph Smith and the Masonic Mormans" of the one on the US probing Salmonelle outbreak in 9 states?" Or the paid political trolls??

Because those are the top three at this time, Gus.

Whatever. Back to the thread.



posted on Jun, 4 2008 @ 10:24 AM
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reply to post by jamie83
 


If Soros WASN'T short the dollar he would be a freaking idiot !!!!


The USD is fried for at least another 2 yrs minimum....Sure it would be nice if you got in 3 yrs ago and built a position slowly, but its not too late to take a stake now and ride it for 24 mths or so...

Peace



posted on Jun, 4 2008 @ 10:33 AM
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reply to post by jamie83
 


From everything that I've ever heard about the man, George Soros is a die-hard leftist, so to that end, his support for the liberal Democratic party is not a surprise at all. I do not know what his real agenda is, mind you. However, it is interesting that as soon as he gained influence within the party (some time after the 2000 election), the party itself took a hard left turn, going from the party of Bill Clinton, a relative moderate, to that of the Nancy Pelosi/Harry Reid type die-hard leftists, just like him.

I don't think its so much of an alliance, however, as much as Soros has them by the family jewels. It all goes back to the 527 groups that Soros is financing.

A little info on exactly how much money Soros (and others) are dumping into 527s and why they have so much power:

www.opensecrets.org...

A little more info on this:

en.wikipedia.org...

Admittedly, I have not done much research into this at all, but its something that's almost certainly worth exploring.



posted on Jun, 4 2008 @ 10:38 AM
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Originally posted by Rilence
reply to post by jamie83
 


If Soros WASN'T short the dollar he would be a freaking idiot !!!!


The USD is fried for at least another 2 yrs minimum....Sure it would be nice if you got in 3 yrs ago and built a position slowly, but its not too late to take a stake now and ride it for 24 mths or so...

Peace


I agree. Soros has probably been heavily short the dollar for quite some time. So that brings up two questions:

1. Is Soros' support for Obama and the liberal agenda in any way self-serving?

2. Why hasn't this question been raised by the MSM? Obviously there is at least the *possibility* of a conflict of interest between Soros and the U.S. interests. Why hasn't anybody even raised the issue, especially since Soros is testifying in front of the Senate, that Soros may have a multi-billion dollar conflict of interest with the U.S.

Wouldn't it really suck if Soros made billions by helping put the U.S. into a deeper financial problem?

Did anybody even bother to ask if Soros was invested, either long or short, in Bear Sterns? Why is this multi-billion dollar hedge fund manager being given "expert" status in Washington?

Isn't it obvious he bought his way into controlling the liberal wing of the Democratic Party?

Maybe someday people will get over their party loyalties and wake up to the fact that they're being manipulated over and over again by the same people who claim to be fighting for them.



posted on Jun, 4 2008 @ 10:39 AM
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George Soros is a leftist !!!?????

Who almost brought the British Pound to its knees, and made a billion dollars shorting the pound ???

Are you serious ???

*LMAO*

That is way too funny...

What kind of leftist would push an old world sovereign nation to the brink of currency collapse ??

A leftist/liberal... ??

A word or three of advice....Research the subjects you post about on here, otherwise you end up looking the fool...

As you do right now....

You are so far off base it ain't funny



posted on Jun, 4 2008 @ 10:43 AM
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reply to post by jamie83
 


Soros will act as he wishes, according to how much money he can make...

Any "ties" to the Democratic Party are irrelevant....He is not going to suddenly unwind some of his short positions if Obama is prez and lose money just to appease the Democratic Party...

The man is a technical genius backed up by a wall of money...His knowledge of technical analysis and how to get in and out of a trade, regardless of the size in unsurpassed

His timing is second to none....He doesn't waste many ticks when entering or exiting a trade, regardless of the timeframe of the trade...



posted on Jun, 4 2008 @ 10:49 AM
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Originally posted by Rilence
George Soros is a leftist !!!?????

Who almost brought the British Pound to its knees, and made a billion dollars shorting the pound ???

Are you serious ???

*LMAO*

That is way too funny...

What kind of leftist would push an old world sovereign nation to the brink of currency collapse ??

A leftist/liberal... ??

A word or three of advice....Research the subjects you post about on here, otherwise you end up looking the fool...

As you do right now....

You are so far off base it ain't funny



Soros gavie $5 million to MoveOn.org. Of course he's a liberal. Last time I checked MoveOn.org was a liberal special interest group. He also donated $3 million to Center for American Progess, and $10 million to America Coming Together, both liberal groups.

And again, you miss the point entirely. No matter whether you want to call him a liberal, conservative, or independent, the point is that he, almost by definition, has undisclosed financial interests that will be affected by U.S. economic and foreign policy.

So why is he being called upon to give advice to the U.S. Senate? Are these people either so dumb, so celebrity-struck, or so much in his back pocket that they simply choose to ignore the conflict of interest in having Soros give U.S. lawmakers advice on what they should do about the price of oil?

Seriously, you can't argue that Soros would say anything that might *hurt* his financial positions, and would probably slant everything he has to say so that he could personally benefit financially.

Please tell me that people really aren't this stupid and blinded by party loyalty.


JSR

posted on Jun, 4 2008 @ 10:56 AM
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reply to post by Rilence
 



Currency speculation
On Black Wednesday (September 16, 1992), Soros became immediately famous when he sold short more than $10 billion worth of pounds, profiting from the Bank of England's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

Finally, the Bank of England was forced to withdraw the currency out of the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US$ 1.1 billion in the process. He was dubbed "the man who broke the Bank of England."


here is something i didn't know. maybe he is not as left as i thought, if he helped break the former soviet union.



Opposition to the Soviet Union
According to Neil Clark (writing in the New Statesman):

(t)he conventional view, shared by many on the left, is that socialism collapsed in eastern Europe because of its systemic weaknesses and the political elite's failure to build popular support.

That may be partly true, but Soros's role was crucial. From 1979, he distributed $3m a year to dissidents including Poland's Solidarity movement, Charter 77 in Czechoslovakia and Andrei Sakharov in the Soviet Union. In 1984, he founded his first Open Society Institute in Hungary and pumped millions of dollars into opposition movements and independent media

—Clark, Neil. Soros Profile. the New Statesman. Retrieved on 2007-06-06.
Since the fall of the Soviet Union, Soros' funding has continued to play an important role in the former Soviet sphere. His funding and organization of Georgia's Rose Revolution was considered crucial to its success by Russian and Western observers, although Soros has said that his role has been "greatly exaggerated."[citation needed]



posted on Jun, 4 2008 @ 10:59 AM
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reply to post by jamie83
 


Soros would be asked by a Senate Committee with regard to the state of regulations concerning futures markets (among other things)...

Because he is an individual (thru his companies) who has hugely benefited from the lack of transparency in regulations with regards to US futures and equities markets, and indeed world wide futures and equities markets....

This is in no way a US "problem...

As to his motive for wanting to clean the industry up, I can only speculate....

He has made his money and isnt happy with how many cowboys are ripping folks off (read recent subprime crisis, and the packaging of debt without knowing the real price of such debt and who actually "owns" said debt at the end of the day....)

This is how I see Soros' motive, in a nutshell...The simple reality is regulators world wide need to look at how futures markets function, particularly in the area of leverage, and also with regard to restricting positions where speculation is the aim, against taking physical deliver of the commodity concerned...

That needs to be the focus world wide....Futures markets are fine, but taking physical delivery of said commodity needs to be made the end all and be all...

Peace


JSR

posted on Jun, 4 2008 @ 11:03 AM
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Originally posted by Rilence
This is how I see Soros' motive, in a nutshell...The simple reality is regulators world wide need to look at how futures markets function, particularly in the area of leverage, and also with regard to restricting positions where speculation is the aim, against taking physical deliver of the commodity concerned...

That needs to be the focus world wide....Futures markets are fine, but taking physical delivery of said commodity needs to be made the end all and be all...

Peace


i whole heatedly agree with this statment. i think, when a contract is purchased you should by law, be forced to accept delivery.



posted on Jun, 4 2008 @ 11:04 AM
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reply to post by JSR
 


You are so far on the money it ain't funny Jamie !!
Have a mango


Soros a socialist or leftist ????!!!!

That is so preposterous it really isn't capable of raising a smirk....A poor attempt by those of the right side of the spectrum in order to label an individual...

Has anyone notice how the righties on here do their best to label anyone a liberal or leftie at any cost, yet the incidence of so called liberal/lefties publically labeling righties or cons doesn't happen ?

Not cool.....


EDIT --- for labelling wrong ATS'er


[edit on 4-6-2008 by Rilence]



posted on Jun, 4 2008 @ 11:13 AM
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Why is this multi-billion dollar hedge fund manager being given "expert" status in Washington?


Because he is an expert in the field. Simple as that. It is no problem with me if he is short in the oil futures market. A drop in the price of oil to a more "realistic" value would benefit the American people and the world, and I am all for that.

Maybe he is tired of seeing the global corporate fascist elite bite the hand that feeds them. Those slime are going to greed themselves right out of business before too long if they keep this up. Which, come to think of it, is just fine with me, as well.

Oh, and edit to mention, there were four other members of the panel testifying before the Senate Commerce committee, and they all agreed that the problem wasn't driven by supply and demand, but by unregulated predatory speculation.



Panel 1

Mr. Gerry Ramm
President, Inland Oil Company
on behalf of the Petroleum Marketers Association of America

Mr. George Soros
Chairman
Soros Fund Management

Mr. Michael Greenberger
Professor
University of Maryland School of Law

Mr. Mark N. Cooper
Director of Research
Consumer Federation of America

Ms. Lee Ann Watson
Deputy Director, Division of Investigation
Office of Enforcement, Federal Energy Regulatory Commission

source



[edit on 4-6-2008 by Icarus Rising]



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