The foundations’ leaders told staff in Berlin and Brussels that they will be cutting staff by 80% and 60%, respectively, according to an internal email and current employees via the Associated Press. Offices in London and Barcelona have already learned that their office will either close or reduce staff significantly, causing several OSF members to leave.

The planned European cuts signal a break from a decadeslong initiative led by billionaire and founder George Soros to provide support for education, human rights, and other policies. OSF leadership intends to complete the layoffs by January.

Alex Soros, George Soros’s son, announced in June that the foundation would switch to a new operating model. He took over as head of the OSF’s board of directors in December.

Continue reading HERE

Source: https://www.washingtonexaminer.com/news/george-soros-foundations-cuts-europe-anger-beneficiaries

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The European Union is facing unprecedented threats to its survival, including the rise of the far right ahead of the European Parliament elections this spring.

Research published this week by the European Council on Foreign Relations claimed Eurosceptic parties are on course to take a third of seats in the May elections. This crucial threshold means they would wield enough power to block or curb EU legislation, says the think tank.

“The surge for anti-EU and anti-globalist parties could wreak havoc with the bloc’s foreign and trade policy, as well as paralyse migration policy and efforts to prevent an illiberal drift in some EU countries,” says The Daily Telegraph.

The newspaper says the parties could even frustrate the appointment of the new European Commission president to replace Jean-Claude Juncker, stop the new EU budget being approved and ultimately “destroy the EU from within”.

Billionaire financier George Soros warned as much in an opinion piece for The Guardian, arguing Europe is “sleepwalking into oblivion and its people need to wake up before it is too late”.

Business Insider notes that “Soros has offered similar warnings before”. In May 2018 he said the EU was in the midst of an “existential crisis” and may cease to exist, and put some of the blame on US President Donald Trump.

But the growth of anti-EU forces in some of the bloc’s biggest countries, such as Germany, the UK and Italy, in advance of May’s European elections make the threat more urgent, he said.

Citing the European Parliament elections as “the next inflection point” where “anti-EU forces will enjoy a strategic advantage”, the philanthropist warned that unless the pro-European majority was awakened “the European Union will go the way of the Soviet Union in 1991”.

Meanwhile, market strategist Russell Napier says “the expected success of the far-right and far-left in the European parliamentary election in May this year augurs the beginning of the end for the currency union”.

He told the Financial Times: “Both extremes share a commitment to the return of sovereignty to their parliaments that is incompatible with a single currency.”

Many believe the collapse of the already-fragile eurozone will precipitate a full-blown political crisis on the continent.

“A scan of the horizon suggests it is all too possible to identify the triggers for what could quickly become a eurozone and wider EU collapse,” wrote Ian Kearns on CapX last year.

A continued failure to put the single currency on a sure footing has been exacerbated by the inability of Europhile leaders such as French President Emmanuel Macron to push for a close fiscal and banking union among member states.

The pursuit of greater political, economic and even military integration has further stoked anti-EU sentiment.

The Daily Express says “in addition to Brexit negotiations, the European Union has been juggling with increased pressure from Hungary, Poland and Italy to stop interfering with national policies”.

Britain’s chaotic exit has temporarily succeeded in uniting the other 27 EU member states but much will depend on what deal is agreed once the UK leaves and whether Britain’s post-Brexit success (or failure) encourages other nations to push to exit the bloc.

Cryptocurrencies news site CCN says “whether the UK exits the EU with a comprehensive Brexit deal or not, in an event in which the euro loses most of its momentum and the eurozone economy declines substantially in the next few years, the UK market could appeal to investors as a potentially safe haven”.

Another concern for Brussels is the potential economic and political fallout of another peak in the migrant crisis. Eurosceptic parties have seen their support surge across the bloc since 2015, when Europe saw the biggest influx of migrants and refugees since the Second World War. It led to anti-immigration policies and a hardening of rhetoric against outsiders among right-wing political groups.

Soros said the EU had made a “fatal mistake” by strictly enforcing the Dublin Agreement, which stipulates migrants arriving on European shores have to claim asylum in the first country of entry. This left Italy struggling to cope with the influx and drove the electorate “into the arms of the anti-European League party and Five Star Movement in 2018”, says Soros.

“Across much of Europe, such movements could be given a further massive boost, and the concept of free movement dealt a fatal blow, if the volatile President Erdogan of Turkey decides at any point to turn the flow of migrants and refugees into the European Union back on,” says Kearns.

Finally, there is the ever-present desire for eurozone enlargement from the EU’s youngest members. Dr Theodore Karasik in Euronews points to Croatia as an example where “adoption of the euro would be an unmitigated disaster”.

He says: “The problem is that this could jeopardize not just the stability of the eurozone, but quite possibly the very future of the EU itself.”

Source: https://www.theweek.co.uk/99579/what-might-trigger-the-collapse-of-the-eu

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President of Turkey Recep Tayyip Erdogan addresses the press during the Argentina G20 Leaders’ Summit 2018 on Dec. 1 in Buenos Aires. (Daniel Jayo/Getty Images)

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But that’s about to change, as the “Open Society” founder – who famously financed much of the opposition to Trump SCOTUS pick Brett Kavanaugh – is now partnering with Mastercard to hand out money (in the form of ‘investment capital’) to migrants, refugees and “others struggling within their communities worldwide,” according to Reuters. Through their partnership, Soros is effectively providing open financial support for migrants and refugees seeking to enter the US and Europe.

The partnership between Soros and Mastercard, which they are calling Humanity Ventures, is the result of a pledge that Soros made in September to spend $500 million to address “the challenges facing migrants and refugees.”

In a statement, Soros and Mastercard declared that government aid programs haven’t been enough to solve the issues facing refugees, suggesting that this is a problem that only the private sector can solve.

“Migrants are often forced into lives of despair in their host communities because they cannot gain access to financial, healthcare and government services,” Soros said.

“Our potential investment in this social enterprise, coupled with Mastercard’s ability to create products that serve vulnerable communities, can show how private capital can play a constructive role in solving social problems,” he added.

Right away, Soros plans to spend $50 million to provide “scaleable” health-care and education solutions. He intends to ‘invest’ the money in businesses founded by migrants.

“Humanity Ventures is intended to be profitable so as to stimulate involvement from other businesspeople,” Soros said.

“We also hope to establish standards of practice to ensure that investments are not exploitative of the vulnerable communities we intend to serve.”

Soros has said that he would prefer ‘Humanity Ventures’ to be profitable to attract “other businesspeople”, it’s unclear how, exactly, he plans to earn anything approaching a reasonable rate of return by handing out risk free loans to migrants and refugees.

This comes after Master Card back in 2016 admitted that it has handed out prepaid debit cards to migrants and refugees traveling through Europe, something the company did with the explicit blessing of the European Union and the UN High Commissioner for Refugees.

Perhaps MSNBC and other liberals who blindly claim that Soros and his network of non-profits aren’t providing financial assistance to migrants approaching the US should consider this before they continue with their denials.

Source: https://www.zerohedge.com/news/2018-11-03/soros-partners-mastercard-hand-out-money-migrants

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I was one of the only commentators in the media who predicted a presidential victory for Donald Trump in 2016. I stood firm on Fox News with my prediction even when The New York Times gave Hillary a 92 percent chance of victory. Don’t look now, but as Yogi Berra would say, “It’s deja vu all over again.”

Democrats are so certain of winning the House that they’re measuring the curtains. The Democrats’ chief fool and delusional prognosticator, Nate Silver, just gave them an 85 percent chance of winning the House.

I predicted Trump’s victory because 10,000 to 20,000 people were showing up to his events in 2016. Meanwhile, Hillary Clinton was attracting hundreds. It was clear Democrats were delusional.

Fast forward to today. Trump attracts 10,000 or more to rallies in small towns such as Elko, Nevada. He attracts 100,000 RSVPs to a Houston rally for Ted Cruz. Yet the potential 2020 Democrat presidential front-runner, Joe Biden, comes to Las Vegas and attracts 500 to a union hall.

The latest polls show incumbent Democrat U.S. senators trailing in North Dakota, Missouri and Indiana. In early voting, the GOP is ahead by a mile in states across the country. In Tennessee, Republican turnout is up 33 points. Keep in mind the GOP never wins early voting.

Why is this happening? Because Democrats have made the biggest mistake in the history of U.S. politics. I’m not even talking about the Brett Kavanaugh hearings. That was the second-worst mistake.

I’m talking about the timing of the caravan coming from Honduras, Guatemala and Mexico to the U.S. border. I suspect this is the work of liberal, socialist and communist activists under the direction of George Soros (and other America-hating, open-borders-loving billionaire donors to the Democrat Party). They wanted to embarrass Trump and cause an international incident. But boy, did they miscalculate.

This is the perfect issue at the perfect time for Trump and the GOP. This has made illegal immigration, open borders, sanctuary cities, the Abolish ICE Movement, the wall and every other immigration issue the defining, shining moment of the 2018 election. These are the issues that elected Trump. These are the issues that make Trump look like a genius and soothsayer.

This massive foreign invasion represents everything that frightens middle-class Americans — criminals, drugs, disease, the bankruptcy of America, lower wages for U.S. workers, higher taxes, unimaginable debt and the overwhelming of our health care, education and welfare systems. Almost certainly mixed into this invading army are ISIS terrorists. Our children’s lives could be in mortal danger.

This is an invading army, an act of war. We are staring at the end of America. Only Trump can save us. This is how many normal American citizens see it.

Yet Democrats either defend the invading army or say nothing, while winking and nodding. What a stunning miscalculation.

Game. Set. Match. Expect a stunning red storm victory for Trump and the GOP on Nov. 6. As usual, Democrats won’t know what hit them.

Wayne Allyn Root is a CEO, entrepreneur, best-selling author, nationally syndicated talk show host on USA Radio Network and the host of “The Wayne Allyn Root Show” on Newsmax TV nightly at 8 p.m. ET.

Source: https://townhall.com/columnists/wayneallynroot/2018/10/26/caravan-just-turned-blue-wave-into-red-tsunami-n2532407?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=&bcid=38861ea43380e1402f1c90f21546ad4b&recip=27845185

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The FBI is currently investigating the devices and has not yet identified a suspect or motive.

While the news was still unfolding Wednesday, radio host Rush Limbaugh aired the theory on his show. When a caller said “my gut is telling me this is a left wing smoke screen,” Limbaugh didn’t disagree, suggesting that a Democrat was more likely to have sent the explosives than a Republican because “things are not working out the way they thought” for the party.

Right-wing commentator Bill Mitchell went further, calling the bomb scare “false flag BS” and flooding his Twitter feed with claims that Democrats are to blame.

“Tip to Democrats: If you’re gonna mail fake bombs to yourself, don’t do it in bomb-shaped envelopes without a postmark. Looks fishy,” he tweeted.

Ann Coulter, the provocative author and commentator, tweeted her observation that, “From the Haymarket riot to the Unibomber, bombs are a liberal tactic.”

The false flag theory also spread to a wider audience on Fox News Wednesday when a former FBI profiler, Jim Fitzgerald, brought up the “false flag” possibility on air. He said, “It could be someone in there, some Democrat, low-level person … who just decided, you know what, I’m going to put this out, because two weeks before a major election, who’s going to look like the bad guy here? The Republicans.” Host Martha MacCallum replied, “Fascinating.”

MacCallum later pointed out in a tweet that Fitzgerald “cited different avenues investigators will pursue to catch this bomber, starting with the most obvious: a republican who is out to get democrats” as well as the “less likely he said, insider angle.”

Michael Flynn Jr., son of President Trump’s former national security adviser Michael Flynn and a proponent of the “Pizzagate” conspiracy theory, initially called it a “total false flag operation” before deleting his tweet. “If I’m wrong about this being a political stunt, I’ll own up to it,” he wrote, calling the timing shortly before the midterms “HIGHLY SUSPICIOUS.” He also retweeted a quote that said the incidents have “Soros astro-turfing written all over it,” insinuating that liberal donor George Soros was secretly behind the plot to bomb himself and others.

Another prominent conservative voice, Michael Savage, said, “It’s a high probability that the whole thing is set up as a false flag to gain sympathy for the Democrats… and to get our minds off the hordes of illegal aliens approaching our southern border.”

What is a false flag?

The term originally referred to pirate ships that flew flags of countries as a disguise to prevent their victims from fleeing or preparing for battle.

According to the Anti-Defamation League, it’s a concept frequently used by the “anti-government extremist ‘patriot’ movement” to discredit terrorist activities. “‘False flag operations are incidents staged by a government but blamed on some other government or entity as a pretext to curtail civil liberties or justify military action,” the ADL explains.

In the online context, conspiracy theorists often point to “false flags” when an official explanation doesn’t fit their world view.

Sarah Sobieraj, a sociology professor at Tufts University, told CBS News that the dissemination of such a theory without evidence can be “toxic,” especially with midterms coming up soon.

“The very foundation of democracy is that citizens’ ability to make informed decisions on their own behalf in the voting booth,” she said. “When disinformation interferes with that premise, it’s becomes un-American.”

The post Some conservatives call “false flag BS” on pipe bomb packages sent to high-profile Democrats first appeared on Garner Ted Armstrong Evangelistic Association.

However, I certainly would not have disagreed with Mr. McCain’s analysis in 2014. If anything, the situation regarding the rule of law and democracy in Hungary has since deteriorated.

In a historic vote on Wednesday, over two-third of members of the European Parliament voted to trigger soon Article 7 of the Lisbon Treaty, which starts the process of sanctioning the Hungarian government in light of its growing authoritarian and anti-democratic behavior, which could eventually lead to the suspension of Hungary’s voting rights in the European Union.

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It’s that sensitivity that thrust the wildly successful investor, political activist, and philanthropist into the limelight for making over a billion dollars by shorting the British pound back in 1992, having correctly predicted that the Bank of England wouldn’t be able to defend itself from an attack in currency markets. Later, his understanding that markets aren’t self-correcting helped him navigate the thorny markets in the aftermath of the 2008 global financial crisis.

Now, Soros’ antennae are up again: The multi-billionaire thinks a new financial crisis might be on its way. This time, he’s looking to the unsustainable political and social structures brewing in Europe.

Everything is wrong

In a Tuesday (May 29) speech at the European Council on Foreign Relations, Soros laid out his dire diagnosis: “For the past decade, everything that could go wrong has gone wrong.” Soros thinks the European Union is already in the midst of an existential crisis, and what comes next will test whether the already fragile collective can stay together.

It’s easy to see what Soros means. The post-2008 policy of economic austerity—reducing a government’s deficits at any cost—pitted the Greeks against the Germans, and changed the relationship between poor and wealthy European nations to one of struggling, impoverished debtors versus agitated, powerful creditors. The debtor-nations had broken economies and masses of unemployed people, ensuring that they could not meet the conditions their creditors set. This dynamic bred widespread resentment on both sides toward the EU, which populist politicians would later exploit.

A decade later, the far-right Alternative für Deutschland is Germany’s largest opposition party. A right-wing populist coalition has advanced in Italy. In the ultimate death knell, the UK marches on towards Brexit. And as Donald Trump abandons the Iran nuclear deal (paywall) and signals the end of the longstanding transatlantic alliance between the US and Europe, the state of the EU looks even more precarious.

Soros thinks everything came to a head with the refugee crisis. Austerity had already set the stage for Germans and other rich countries to think of Greeks as foreign, or other. Then in 2015 came a whole new wave of outsiders from countries like Syria, Somalia, Bhutan, Iran, and Afghanistan. “At first, most people sympathized with the plight of refugees,” Soros said in his speech. “But they didn’t want their everyday lives disrupted by a breakdown in social services. And soon they became disillusioned with the failure of the authorities to cope.” The refugee crisis fueled populist ire even in countries with few migrants. Hungary’s current prime minister, Viktor Orbán, ran on an anti-refugee reelection campaign even though Hungary was hardly touched by the crisis.

At least one million people from sub-Saharan African countries have migrated to Europe since 2010, and the overall numbers coming from Africa, especially in post-Gaddafi Libya, only seem to be growing. Some experts believe that because Africa’s population skews young (paywall), and because—unlike Syrian refugees who flee war—Africans tend to be economic migrants looking for better opportunities, the African migration crisis will only get worse in the years to come.

In the long run, migration has major benefits for host countries, bringing in diverse populations who can help the economy grow. That said, any country, for a time being, might struggle to handle a high flow of economic migrants. Soros worries that Europe, in its current state of disintegration, political populism, and austerity, could collapse under the pressure to provide social services and jobs to incoming refugees. As migrants join the labor force, it could,in the short term, lead to growing competition for jobs and a fall in wages, only stoking populist anger. If the crisis continues at its current pace, the European Union is at stake.

The “Marshall Plan for Africa”

Soros’ plan to rescue Europe is both simple and incredibly difficult: Solve the refugee problem. Soros wants the EU to commit to giving €30 billion ($35.4 billion) annually to Africa for a number of years; he left the exact timeline vague. This “Marshall Plan for Africa” would go toward building and fortifying democratic nations in Africa. Support and improve African economies, the thinking goes, and fewer refugees will leave the region.

If Soros’ plan sounds idealistic, that’s probably because it is—crafted more to startle scholars and present an out-of-the-box solution than to pass in any sort of legislative body.

Even Soros, to an extent, is aware of this. “There is a woeful shortage of financial resources… so, where would the money come from?” In 2015, for example, the EU initiated a plan to “address the root cause of migration in Africa,” though it seemed more interested in fortifying borders than building up African democracies. That plan included just €1.8 billion ($1.9 billion) in funding.

Soros gestures at some financial wizardry, saying he has in mind “an ingenious device, a special-purpose vehicle, that would enable the EU to tap financial markets at a very advantageous rate without incurring a direct obligation for itself or for its member states.” Soros hints that his plan would take advantage of the long under-utilized borrowing capacity of the EU, which also happens to have a high credit rating. It might even stauch the flight of capital from emerging market currencies. “The economic stimulus of a Marshall Plan for Africa and other parts of the developing world should kick in just in time,” said Soros in his speech.

He’s keeping the details of his plan vague. Still, If anyone can figure out a way for the EU to borrow billions of dollars at great rates while taking advantage of mysterious financial devices, it’s probably Soros.

But the plan is still largely a fantasy, sketching out an idea of what ought to be, rather than what might be politically actionable.

“It’s a long shot,” says Rob Johnson, an expert in global finance, a former managing director at Soros Fund Management and a close friend of Soros. Johnson has unmistakable respect for his former colleague, and considers Soros to be a deeply well-meaning person. He also agrees with Soros’ diagnosis of the situation of Europe, and respects the motivation behind his plan.

But any such plan requires political cooperation among nations that might well resist the initiative. Migration is not evenly distributed across countries in Europe. So any plan that spreads the costs disproportionately benefits high-migration places, like southern Italy, at the expense of countries like Germany.

“The German reluctance, and some of the other European countries’ reluctance, to engage in collective finance, will be hard to overcome,” says Johnson. “Countries like France and Italy want to retain national control over their budgets—you can’t have multiple countries control their own budgets and, simultaneously, have a shared financial responsibility.”

The message matters more than the plan

Realism aside, the Soros plan is a way of shocking the world and providing a call to action. When you’re a famed billionaire investor who thinks something really dangerous is happening, people pay attention.

“I don’t think George is suggesting that someone next week is about to draft a bill and pass it, but he’s creating a conversation,” says Johnson. “He is painting a vision to start a conversation to move the conventional wisdom away from its unsustainable structure.” That vision involves bringing about popular recognition that there is a positive, collective interest in everyone pitching in and doing something for Africa.

The Soros proposal is also notable because it involves some pretty controversial ideas—ideas that many, especially the powerful elite, shrink from. For example:

The refugee crisis is Europe’s responsibility. Some believe that when the EU cut deals with African nations back in 2015, it simply offloaded handling the refugee crisis to north Africa, essentially bribing poorer countries to handle border security on its behalf. Soros wants the EU to step up to the task. “It’s important to recognize that the refugee crisis is a European problem requiring a European solution,” he argues.

A European solution, Soros believes, has to be about far more than border security. “The main objective of most European countries is not to foster democratic development in Africa and elsewhere, but to stem the flow of migrants,” says Soros. He says that Europe is shirking its responsibility because “a large part of the available funds [go] to dirty deals with dictators, bribing them to prevent migrants from passing through their territory or to use repressive methods to prevent citizens from leaving.” The final result? More political refugees.

Migration should be entirely voluntary on both sides. “Member states should not be forced to accept refugees they don’t want,” says Soros. “And refugees should not be forced to settle in countries where they don’t want to go.” Soros thinks this fundamental idea needs to be the bedrock of any European migration policy. That means neither “Fortress Europe”—all borders on extreme shutdown—or an endless flood of refugees into Europe would be feasible. But this ideal may just be that. There are plenty of reasons why mutual and voluntary migration may be untenable.

Austerity doesn’t work. “Until recently, it could have been argued that austerity is working,” says Soros. “But austerity is itself a contributing factor to the crisis in which Europe finds itself.” Soros’s plan literally requires nations to abandon the practice of austerity, because no nation could fund so much aid without adding to the national debt.

So take the plan for what it is—a message about the kinds of values that Soros believes should be governing whatever decisions the EU will eventually make.

Could the plan backfire?

Soros is aware, to a degree, that when it comes to the rise of populism in Europe, he may be a part of the problem.

“This initiative needs to be a genuinely grassroots effort,” Soros said at the European Council on Foreign Relations. “Ordinary people feel excluded and ignored. Now we need a collaborative effort that combines the top-down approach of the European institutions with the bottom-up initiatives that are necessary to engage the electorate.”

In other words, saving Europe requires taking on elitism. Soros is unambiguously a member of the elite. “This is a man who is very wealthy, very influential, very active in politics, very influential in politics, and he has been demonized, he’s been mistrusted,” says Johnson. “Nobody has trust in these elite figures, nobody.”

Both Soros and Johnson believe the everyday electorate is fed up with having big political decisions made for them, instead of with them. With the spread of populism in Europe, it’s likely no “Marshall Plan for Africa,” or aid program in general, can happen without the large-scale support of the body politic—especially a plan that will cost upwards of $30 billion.

Soros had little to say on just how a plan given to a small audience at the European Council of Foreign Relations could turn grassroots. But he’s hopeful. And despite his history of detecting, and capitalizing on, insecurity, Soros remains fiercely optimistic about the value of the EU. “The idea of Europe as an open society continues to inspire me,” says Soros. Now, to remain a reality, it will need to reinvent itself.

Source:  https://qz.com/1292650/george-soros-radical-plan-to-save-the-eu-from-its-next-financial-crisis/

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The former leader of Britain’s UK Independence Party (UKIP), Nigel Farage, speaks in his Westminster office during an interview with Reuters, in London, Britain February 12, 2018. REUTERS/Simon Dawson

Farage, who as UKIP leader convinced Prime Minister Theresa May’s predecessor, David Cameron, to call the Brexit referendum and then helped lead the campaign to leave the EU, said Brexit was now in danger of being stopped by the establishment.

The 53-year-old former commodities trader cast May, who voted to stay in the EU, as “Theresa the appeaser” for giving in to the EU on almost every part of the Brexit negotiation and said Britain was being humiliated by the EU.

“The best case scenario right now under our current pathetic leadership is Brexit in name only – that is about as good as it gets,” Farage told Reuters in his office just a few meters from Westminster Abbey.

“At worst they are going to make us fight the whole thing again,” said Farage. “That is a significant betrayal of what many millions voted for.”

In the United Kingdom’s 2016 referendum, 51.9 percent, or 17.4 million people, voted to leave the EU while 48.1 percent, or 16.1 million people, voted to stay.

Farage dismissed worries from major banks such as Goldman Sachs that the City of London could lose business as a result of Brexit and cast the European Union as a doomed German-dominated experiment in European integration.

Opponents of Brexit are trying to garner enough support in the lower house of the British parliament, the House of Commons, to block any possible withdrawal deal that May comes back from Brussels with in October.

Among those who have called for halting or reversing Brexit, are former Prime Minister Tony Blair, Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein and George Soros, the billionaire who earned fame by betting against the British pound in 1992.

When asked about the potential electoral pull of Blair, Goldman Sachs and Soros, Farage laughed: “If I was drafting a horror movie of what remainers look like well here they are.”

Goldman Sachs Group Inc253.4

GS.NNEW YORK STOCK EXCHANGE

+4.10(+1.64%)

• GS.N

Soros, through his foundations, donated around 400,000 pounds ($553,000) to the Best for Britain campaign group and an additional 182,000 pounds to the European Movement and 35,000 to Scientists for EU.

Farage said Soros’s participation in Western politics should be investigated and that the billionaire should come to London to publicly explain which political projects he has been involved in.

“There does need to be an investigation into the extent that George Soros is undermining politics right across the Western world,” Farage said. “This is the biggest political campaigning organization the world has ever seen and most people are in denial about it.”

A spokesman for Soros declined immediate comment.

($1 = 0.7239 pounds)

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