There are all sorts of memories, obviously. Good, bad, indifferent. But, as we move further and further away from the original time that the memory is connected to, we tend to see memories in a less-than-accurate way. We alter our own memories; we heighten the drama involved, we change the colour scheme, good memories become great, bad memories become terrible.
Of course, there are defences against such things happening. We have books; we have history books; we have documentaries. In addition, we have the testimonies of those who were there.
We can rely on friends who were present to correct our inaccurate recollections. For that to work, we have to be trusting enough to accept that they’re right and we’re wrong. But, towering above all inconsistencies in memory is the Internet. Always present, or so it seems, always ready to correct what we thought happened.
The Internet: the bane of those who would reinvent themselves. The scourge of those trying desperately to forget what they once were, represented, or said. Just when you think that you’ve convinced people you were always as straight as an arrow, along comes someone with an Internet search to show that you used to resemble a boomerang.
Yes, type the name Soros into your Internet browser and watch as one word floods the screen in a way which Noah would recognise. That word, of course, is ‘philanthropist’. Of course! What else?!
This man, as he ages, seems to want to forget the source of the cash which enables him to bang his drum far and wide about what a great philanthropist he actually is. But, surely we haven’t forgotten, have we?
Does September 1992 not ring a bell? No? Well, that was when Soros broke the pound.
That was one of the times when he added substantially to his wealth which now, of course, enables him to act in a philanthropic manner. But to listen to Soros now; to read about him now, is to be treated to a redacted version of his life. These days all the information that pops up has been expunged.
In 1990, the British government decided to allow sterling to join the ERM, the EU’s Exchange Rate Mechanism. Sterling always struggled to remain inside its designated floating band. At the same time, the Italian and Spanish currencies were also experiencing difficulties, but the pound was of more interest to Soros and his band of merry speculators.
Speculators, who had long been of the opinion that the monetary union was a waste of time, decided to pounce at this point. Soros led a field of speculators who borrowed fixed-interest loan securities issued by the UK government only to sell them and then buy them back later at cheaper prices. They did this time and time again, every few minutes, profiting, in fact profiteering every time they did so.
Soros himself stated that he made £1bn from selling sterling that he didn’t actually own.
He played the system, borrowing financial instruments which they sold back and then bought at cheaper prices. Now it's a moot point whether he should be castigated for taking advantage of the situation he found himself in. I have no doubt that, if questioned, Soros would claim that he was only doing what anyone else in his place would have done. Had he not done it doesn’t mean that someone else wouldn't have.
And it’s a viable argument. He’s not the only speculator in the world. But, I don’t think that’s the point. The point is that he now likes to present himself to the world as some sort of benevolent uncle. A global grandfather, winding his way around the planet, patting children on the head, paying for people’s coffee, curing diseases, and what-not.
But, that wasn’t true of him then, and it’s not true of him now, either.
What Soros is doing is relying upon the fact that most people born after a certain date are unaware of the facts. The fact, for example, that Soros caused incredible amounts of damage to a sovereign state’s finances. The former chief dealer for the Bank of England chose the phrase: “stunningly expensive” to describe the day Soros broke them. By mid-morning, Bank of England officials were buying £2bn sterling…an hour. Interest rates were raised to 12%, and then 15%. The ERM demanded that to maintain balance between currencies, the most valuable currencies were meant to sell their own and buy the weakest. The Deutschmark was the most powerful currency, but the Bundesbank neglected to do what they were meant to. They didn’t sell their Deutschmarks.
Documents released years later revealed the cost to the British Treasury was estimated at £3.3bn. That’s an awful lot of damage.
Soros took down a currency, but did more than just that. With his speculation, he took down the then Conservative government.
And what is cheerful, benevolent uncle Soros doing now? Yes, he’s continually trying to remove from power a government that displeases him. He’s continually wandering the corridors of power in Brussels, telling his minions what he expects them to do for the money he pays them.
He might smile for the cameras, he might present a certain, controlled image of himself to the world, but don’t be fooled. Scratch the surface of this would-be philanthropist, and you’ll find a man with concern for absolutely nothing but his own personal gain.