George Soros Quotes

So the euro is here to stay, and the arrangements that evolved in response to the crisis have become established as the new order governing the eurozone. This confirms my worst fears. It’s the nightmare I’ve been talking about. I’m hopeful that the Russian invasion of Crimea may serve as a wake-up call. Germany is the only country in a position to change the prevailing order.

It is much easier to put existing resources to better use, than to develop resources where they do not exist.

If the cognitive function operated in isolation, without any interference from the manipulative function, it could produce knowledge. Knowledge is represented by true statements. A statement is true if it corresponds to the facts. But if the manipulative function is at work, the facts no longer serve as an independent criterion of truth.

We face a vicious circle of escalating violence. President Bush ran on the platform of a "humble" foreign policy in 2000. If we re-elect him now, we endorse the Bush doctrine of preemptive action and the invasion of Iraq, and we will have to live with the consequences.

The fact that a thesis is flawed does not mean that we should not invest in it as long as other people believe in it and there is a large group of people left to be convinced. The point was made by John Maynard Keynes when he compared the stock market to a beauty contest where the winner is not the most beautiful contestant but the one whom the greatest number of people consider beautiful. Where I have something significant to add is in pointing out that it pays to look for the flaws; if we find them, we are ahead of the game because we can limit our losses when the market also discovers what we already know. It is when we are unaware of what could go wrong that we have to worry.

Steve Kroft: In the last two years, you have been blamed for the financial collapse of Thailand, Malaysia, Indonesia, Japan and Russia.
George Soros: All of the above.
Steve Kroft: All of the above. Are you that powerful?
George Soros: No. I think there's a great misunderstanding.
Steve Kroft: The prime minister of Malaysia said that the region spent 40 years trying to build up its economy, and along comes a moron like Soros with a lot of money, and it's all over. He called you a criminal.
George Soros: It's easier for him to blame an outside force than to admit that they were mismanaging their economy and their currency. The French finance minister talked about hanging speculators from lamp posts.

President Bush has shown that he is incapable of recognizing his mistakes. He insists on making reality conform to his beliefs even at the cost of deceiving himself and deliberately deceiving the public. There is something appealing in the strength of his faith, especially in our troubled time. But the cost is too high. By putting our faith in a President who cannot admit his mistakes we commit ourselves to the wrong policies.

I consider Xi Jinping the most dangerous enemy of open societies in the world.

George Soros: Actually, president Mandela asked me, "How could South Africa protect itself against speculators like you?" And I told him. I wrote him a memo, trying to give him the best advice I could on how to reduce the exposure of South Africa to speculative attack.
Steve Kroft: That's the old "stop me before I kill again" approach, right? You're telling him, "This is what you can do to stop me."
George Soros: Whether I or somebody else does whatever is happening in the markets really doesn't make any difference to the outcome. I don't feel guilty, because I'm engaged in an amoral activity which is not meant to have anything to do with guilt.

Each state is guided by its interests, not by some nebulous concept of common interest. And not many states are even democratic. So, you have a problem with the concept between international institutions and sovereignty. To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

A teljesség kedvéért meg kell említenem, hogy az emberi bizonytalansági elven alapuló teóriák szintén hibásak, különben érvénytelenítenék magát az elvet. A teória lényegéből fakadó hiba az, hogy nem eredményez határozott előfeltevéseket. Ami a determinista teóriáknál mégis közelebb hozza ezeket az elveket a valóság megjelenítéséhez, az nem más, mint a hibás állításoktól való távolságtartás, valamint a nyitottság a gyakorlat tükrében való módosításokra. A nyílt társadalmak nyitottabbak a fejlesztésekre, mint a zárt társadalmak.

The nation is deeply divided and the two camps seem to be talking past each other. John Kerry won all three debates but President Bush invokes his faith and that inspires his followers. In the end, it boils down to a philosophical difference over how to deal with an often confusing and threatening reality.

The main obstacle to further progress on the resource curse is China, and to a lesser extent India.

My peculiarity is that I don't have a particular style of investing or, more exactly, I try to change my style to fit the conditions.

The Bush administration is once again in the process of committing a major policy blunder in the Middle East ... Hamas won the elections in an upset victory. Then came the blunder I am talking about. Israel, with the strong backing of the United States, refused to recognize the democratically elected Hamas government.