Cynical Humanism

Admittedly, I don't know much about Webster Tarpley; he's made appearances on Alex Jones and infowars and is a conspiracy theorist regarding 9/11.

Still. It makes for fun reading. He takes on Soros here and this is cool with me. Why? For all his support for the left and his pseudo-humanist rhetoric, Soros profits from the hardhsips of nations. He's a speculator and short seller. That's fine. It's all legal. Just spare me the "help your fellow man" crap:

George Soros has been telling every media outlet that will listen that the euro is doomed to fall apart and break up over the short run. Soros even has a theory to deploy as part of his speculative attack. Soros argues that the fatal flaw or original Sin of the euro is that it was based on a common central bank among the participating countries, but lacked a common treasury and tax policy. This means that a country like Greece can no longer defend itself from a speculative attack on its bonds by the simple expedient of currency devaluation, since there is no more drachma, and the euro is controlled from Frankfurt, not Athens. British spokesmen are quick to point out that, even though the financial situation of London is far worse than that of Athens, the British government is already devaluing the pound through a downward dirty float.



Given Soros’s infamous track record, he must be taken seriously. In 1992, Soros became world famous through his attack on the European Rate Mechanism, which he executed by a highly leveraged speculative assault on the British pound, at the time one of the weaker members of the ERM. Soros’ speculative attack led to a pound devaluation and the ragged breakup of the ERM, and netted Soros £1 billion in profits. It was as if Soros had personally stolen a £20 note from every man, woman, and child in Britain. The speculative gains were no doubt gratifying, but the overriding political purpose of the assault was to sabotage that phase of European monetary policy.