The Soros Effect

The Soros Effect

George Soros is a controversial financier accused by conservatives of undermining entire economies and defended by progressives as a misunderstood philanthropist. Born in Hungary, his Jewish family escaped Hitler’s concentration camps and settled first in England and later in the U.S. His “daring investment decisions” in world-wide hedge-funds made him a multi-billionaire. He was later convicted of insider trading by a French court and fined 2.9 million dollars; the conviction was later upheld by the highest court in France.

In 1984 Soros created the “Open Society Foundations,” a group composed of many organizations. It is now one of the largest philanthropic foundations in the world.

Soros “pledged millions of dollars” to oppose George W. Bush and support Barack Obama, Hillary Clinton, and Joe Biden. Also, according to Politico, which is not a conservative organization, he gave financial support to “an under-the-radar 2016 campaign to advance one of the progressive movement’s core goals — reshaping the American justice system.” The support, Politico added, included “$3 million into seven local district-attorney campaigns in six states over the past year — a sum that exceeds the total spent on the 2016 presidential campaign by all but a handful of rival super-donors.”

Once elected, the officials Soros supported made changes that encouraged criminal behavior, frustrated police, and endangered citizens over the last seven years.

There is no doubt that Soros was indirectly responsible for the consequences that followed. However, whether he was also morally culpable is a more difficult question. The answer depends on whether he intended the consequences or was unconcerned about the likelihood of their occurring. Reading the man’s mind would be one way for us to know, but that is impossible.

However, there is another way—it is for him to tell us the answer. And that is exactly what he did on CBS’s 60 Minutes in 1998. (The video was re-run on May 6, 2024, on Rob Schmitt’s Newsmax program.) When the 60 Minutes host mentioned that some people blamed Soros for the financial collapse of Thailand, Malaysia, Indonesia, and Japan, Soros gave him a big smile and said, “All of the above.” Then he said this: “I am basically there to make money. I cannot and do not look at the consequences of what I do.” Let’s ponder that statement for a moment.

The host had just said Soros was being blamed for the financial ruin of four countries, which obviously had a dire effect on their populations. At the time the host made that statement, the combined population of the four countries was over 426,000,000 people. That means 426 million human beings suffered. And yet all Soros could muster in response was that he doesn’t “look at” such matters. That response raises these questions:

Would a caring person who accidentally caused the financial ruin of even one other human being smile about what he did? Of course not.

Would a responsible human being take significant actions without first considering the possible consequences and deciding whether to proceed? Of course not.

Would a person who generally respects his fellow human beings, but occasionally fails to do so, acknowledge his failing to a national audience without expressing remorse? Surely not.

The monstrous scale of what Soros admitted doing for his own sake without regard for others is breathtaking. The widely reported claim that many wealthy and influential people are behaving similarly is frightening. But what should we do about it? The following timeless insights can guide us:

“Right is right, even if everyone is against it; and wrong is wrong, even if everyone is for it.” “[There are] none so blind as those who will not see.” “Do good and avoid evil.” “Now and then [we] should be shaken to the core with indignation over things evil.” “To ignore evil is to become an accomplice to it.” “All that is necessary for the triumph of evil is for good [people] to do nothing.”

As these insights make clear, we cannot in good conscience ignore the harm being done to our citizens and the country. We must insist that our state and federal governments protect the legal system from outside influences that undermine the established laws on which the stability of the country depends. Furthermore, we must encourage our friends and neighbors to join us in that effort.

Copyright © 2024 by Vincent Ryan Ruggiero. All rights reserved.

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Vincent Ryan Ruggiero