Hungary Planning Major Crackdown on NGO’s to ‘Sweep Out’ Soros

by Rachel Blevins | Jan 11, 2017

As President-elect Trump prepares to take office, Hungary is reportedly preparing to initiate a major crackdown on non-governmental organizations funded by liberal billionaire and notorious Clinton donor, George Soros.

Soros’s native country will use “all the tools at its disposal” to “sweep out” the NGO’s he has financed, according to a report from Bloomberg that cited comments from Szilard Nemeth, vice president of the ruling Fidesz party.

“I feel that there is an opportunity for this, internationally,” Nemeth reportedly said, using Trump’s election as an example.

Soros is on the list of Hillary Clinton’s top donors, and just before Election Day, Trump released an ad criticizing Soros as part of “the global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.”

While Hungarian Prime Minister Viktor Orbán has clashed with U.S. officials in the past, he became the first European Union leader to endorse Trump, when he said in July that he would prefer the Republican candidate over his Democratic rival.

I spoke on the phone with the new U.S. president and I can say that our position has improved remarkably,” Orban said following Trump’s victory in November. “Donald Trump has made it clear that he regards Hungary highly.”

As part of the Soros-related crackdown, Hungary’s parliament will reportedly debate legislation that that would give lawmakers to opportunity to audit NGO executives.

Sourrce: Hungary Planning Major Crackdown on NGO’s to ‘Sweep Out’ Soros


 


Clinton backer Soros lost $1bn in stock market surge post-Trump win – report

Clinton backer Soros lost $1bn in stock market surge post-Trump win –  report
Billionaire hedge fund manager and avid Hillary Clinton supporter George Soros lost $1 billion dollars in the wake of Donald Trump’s election victory after the stock market surged in reaction to the shock result, according to a report by the Wall Street Journal.

Soros suffered substantial losses as the market experienced an unexpected rally, according to unnamed sources, quoted by the Wall Street Journal.

His larger fund – Soros Fund Management – which manages about $30 billion for Soros and his family, gained 5 percent over last year according to the WSJ.

Soros’ former deputy, billionaire hedge fund manager Stanley Druckenmiller, reportedly foresaw the market shift and made sizable gains. Druckenmiller was instrumental in Soros’ big bet against the the British pound in 1992, racking up $1 billion in profits.

Despite many experts predicting stocks would tumble, the dollar hit a 13-year high following Trump’s election victory. This jump was based on investor expectations that his presidency would lead to looser regulation in some sectors, lower tax rates and an overall boost in the US economy.

A Soros-backed hedge fund start up, Glen Point Capital, suffered major losses as a result of market volatility in November. The macro hedge fund which raised almost $2 billion in 2016 lost 5 percent in November, according to an investor letter, as cited by Bloomberg.

Soros contributed millions to Clinton’s campaign and pro-Clinton organizations, including Clinton campaign Chair John Podesta’s think tank, Center for American Progress. His close relationship with the Clinton campaign was revealed in hacked emails from Podesta released by WikiLeaks.

An email leaked by WikiLeaks in August also revealed his close relationship with Clinton when she was secretary of state.

In 2011, Soros instructed her on how to deal with unrest in Albania, stressing it “needs urgent attention at senior levels of the US government.”

Soros has been a vocal critic of Trump, calling him “a would-be dictator” in an editorial for Project Syndicate in an end-of-year article where he voiced his concern for the future of democracies around the world.

Source: Clinton backer Soros lost $1bn in stock market surge post-Trump win – report