The Hungarian-born Soros’ hunger for eating India’s democracy will end up only in sorrow. His Quantum never reveals the names of its investors. However, Soros expected Hindenburg Research, which demanded Adani to reveal the identity of its investors, to make Modi break his silence!
The 93-year-old George Soros has no work in India as his stated principles have no space in a country as free and democratic as India. He may have been destined to bite the dust at the advanced autumn of his life.
Quantum Fund, originally known as Double Eagle, broke the Bank of England in 1992 after his bet on the erosion of pound value. Sterling had to move out of the European Exchange Rate Mechanism after it broke the bottom of the required rate. He made a profit of $1 billion out of a $10 billion short sale. Five years before that, Quantum Fund had lost $800 million in Japanese stocks when the world saw $1.71 trillion in washouts on Black Monday.
He may not bet so boldly to break all targets the way he could celebrate Black Wednesday on 16th September 1992. Tory lost power in the British General election held five years later and sat on the opposition side for 13 years after that for all the failed attempts of the government to buy the sterling and stabilise the value. The Tory’s defeat was an overstated Soros’ effect as his over-stated influence in the fall of the East European Communist Bloc. The crashes were the results of the failed monetary policies of the respective markets, but not of any activism.
He donated heavily in 2003 and 2004 to ensure the defeat of George Bush. But Bush was re-elected in 2005. Similarly, his funding to Priorities USA Action supporting Hillary Clinton’s presidential race did not render any desired result. He may have some records of success out of his funding to District Attorney elections in some pockets of the US but not nationally. It was not his funding that elected Joe Biden, but the failure of his predecessor. Most of the global news agencies’ reports about Soros’ funding and involvement in political and financial market coups were either enigmatic or untrue. Reuter’s reports about his involvement in Occupy Wall Street protest, a movement by left activists in September-November 2011, were wrong.
In politics the biggest surprise that Soros can make will be of leaving a rift in the opposition, pushing the left of the centre to the left corner itself and keeping the right of the centre dangling confusingly at the centre itself. India’s reaction in hot pursuit to his comment on Modi’s silence on Hindenburg Report and warning that “he will have to answer questions from foreign investors and in Parliament,” could only be an immature statement because his statement was not different from what Rahul Gandhi said in and out of the parliament. Soros’ expectation is not different from the expectation of the consistently emaciating opposite political parties in India. All are equally uncomfortable. Possibly the next thing Soros can think of is to trigger a short selling. But the Indian regulators are relearning with wisdom, and the government action is unpredictable.
Soros’ Quantum Group of Funds never revealed the identity of its investors. One of the questions Hindenburg Research hurled at Adani Group was to reveal the details of the investors. Can the bugaboo and Madoffs of Manhattan come together to break India’s democracy by grappling with contradictory stands?
