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Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
Trader
Writer
Buda Pest
György Schwartz
György Soros
Cannot
Narrative
Change
Realized
Accepted
Caught
Created
Imagination
Public
Euro
Working
German

More quotes by George Soros

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Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
George Soros
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Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.
George Soros
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These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
George Soros
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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
George Soros
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I have made it a principle to give advice that does not serve my personal interest but rather the common interests.
George Soros
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The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.
George Soros
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We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.
George Soros
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Money values do not simply mirror the state of affairs in the real world valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.
George Soros
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The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence - but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.
George Soros
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Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
George Soros
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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
George Soros
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I commissioned two political experts to advise me about what I could do to oppose the re-election of President Bush.
George Soros
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Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.
George Soros
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I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
George Soros
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The scope for improvement is infinite, precisely because perfection is unattainable.
George Soros
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.
George Soros
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The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions.
George Soros
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My sense of insecurity keeps me alert, always ready to correct my errors.
George Soros
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Now that I have called you on your false accusation, you are using additional smear tactics.
George Soros
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Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.
George Soros