George Soros, hedge fund mogul and founder and chairman of Open Society, has predicted that the current market situation is reminiscent of 2008. Soros’s prediction stems from Eastern Europe and Russia, where a college in northern Russia has burned 53 books linked to a George Soros charity, signaling a continued, hard-line Communist position, and perhaps a targeted one.
In October of 2015, Soros wrote an article titled ““Ukraine & Europe: What Should Be Done?”“, where he cited five crises that Europe faced: four internal ones—the euro, Greece, migration, and the British referendum on whether to remain in the EU—and an external one, Russian aggression against Ukraine. Soros makes a strong argument for Ukrainian support. “The new Ukraine seeks to be the opposite of Greece,” writes Soros, “and, although it is not a member, it is actively defending the European Union against a military and political threat from Russia.”
Soros references the Minsk II agreement, and writes that “President Putin exploited his advantage by keeping the text of the agreement deliberately ambiguous.” Since Ukraine cannot prevail militarily over Russia, it must, at the very least, maintain its newly formed morality and integrity, and the best to uphold such an important geographical and seemingly spiritual position, is for the European Union to give Ukraine precedence.
Clearly Soros’s strong position against Russian aggression in Ukraine, as evidenced in his 2015 article, his strong support of Ukraine, his proposal to toughen Russian sanctions, have influenced the Kremlin’s recent decision to burn Soros charity books. Propaganda and political positioning are nothing new within such circumstances. Currently, however, the threat of global, economic turmoil is very real, and uncertainty is beginning to develop much like in 2008, as Soros has alluded. Perhaps we would be wise to stop skirting the real issues, as Soros has suggested, so that we don’t find ourselves forever at the bottom of a hill, a can at our feet.