The Washington Examiner reports that
Liberal philanthropist George Soros and the Ford Foundation have lavished groups supporting the administration’s “net neutrality” agenda, donating $196 million and landing proponents on the White House staff, according to a new report.
And now, as the Federal Communications Commission nears approving a type of government control over the Internet, the groups are poised to declare victory in the years-long fight, according to the report fromMRC Business, an arm of the conservative media watchdog, the Media Research Center.
“The Ford Foundation, which claims to be the second-largest private foundation in the U.S., and Open Society Foundations, founded by far-left billionaire George Soros, have given more than $196 million to pro-net neutrality groups between 2000 and 2013,” said the report, authored by Media Research Center’s Joseph Rossell, and provided to Secrets.
“These left-wing groups not only impacted the public debate and funded top liberal think tanks from the Center for American Progress to Free Press. They also have direct ties to the White House and regulatory agencies. At least five individuals from these groups have ascended to key positions at the White House and FCC,” said the report which included funding details to pro-net neutrality advocates.
It quoted critic Phil Kerpen, president of American Commitment, saying, “The biggest money in this debate is from the liberal foundations that lavish millions on self-styled grassroots groups pushing for more and more regulation and federal control.”
Groups funded by Soros and Ford include the Center for American Progress, the American Civil Liberties Union, and Media Matters for America. They received a total of $54,226,097 from the Ford and Open Society Foundations.
Both Ford and Open Society support the initiative.
Some of those supported by the two groups’ funding have also worked the White House, notably John Podesta, former Center for American Progress head and now expected to run Hillary Clinton’s presidential campaign.
MRC Business regularly follows the spending and activity of Soros, and even has an initiative to keep an eye on his advocacy called the Soros Project.
What a noble, giving guy Mr. Soros is, huh? Wrong.
A while back, I posted an article titled, “Black Thursday…Almost” about an unexpected dive in the Stock Market. Within that post, I included a short summary of how George Soros made his money:
George Soros set up the now famous Quantum Fund as one of the world’s first Hedge Funds. It took money from the wealthy and invested in risky but potentially highly profitable international deals.
It did very well out of the collapse of fixed exchange rates in the 1970s and the deregulation of global capital markets. By 1980, George Soros was worth more than £16.5 million and his fund £67 million. The stage was set for his intervention in the Exchange Rate Mechanism, a system established in 1979 for controlling exchange rates within the European Monetary System of the European Union(EU) that was intended to prepare the way for a single currency.
Around spring 1992, Soros had decided that the pound would have to be devalued because it had been pushed into the Exchange Rate Mechanism at too high a rate.
He knew that the Bundesbank was in favor of a devaluation of both sterling and the Italian lira and believed it would have to happen because of the disastrous impact that high British interest rates were having on asset prices.
Soros spent the next few months in preparation to profit from that devaluation. He borrowed sterling heavily, reportedly to the tune of £6.5 billion, and converted that into a mixture of Deutschmarks and French francs.
On Black Wednesday, September 16, 1992, Soros won his bet. The UK Conservative government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) due to pressure by currency speculators, most notably Soros himself.
In the following days, he took care of business, paying back what he borrowed and ending with a profit of around £1 billion. At the same time, Soros bought as much as £350 million of British shares, gambling that equities often rise after a currency devalues.
He later admitted that his actions had benefited no one but himself.
There are several culprits in the American Stock Market Crash of 2008 that helped cost John McCain the Presidency, but one key source of the problem escaped almost everyone’s attention: an economic index that can be easily manipulated by Hedge Funds and whose erratic movements have shaken the foundation of Wall Street: the ABX index, launched in 2007 by the Markit Group, aLondon-based company that specializes in credit derivative pricing and that administers the index.
The heart of the mortgage mess [we are still recovering from] was uncertainty regarding the value of subprime securities. The ABX Index is used to determine the value of these securities: it is a benchmark of the market for all the home loans issued to borrowers with weak credit . A collapse of this index led to home loans being marked down in value.
Looking back, it’s pretty clear that the ABX was manipulated by Hedge Funds. As the ABX subprime mortgage index crashed, so did much of our economy.
Some investors made out like bandits. George Soros for one. Soros had become a political powerbroker of unrivaled influence within the Democratic Party (see The Shadow Party: How George Soros, Hillary Clinton and Sixties Radicals Seized Control of the Democratic Party) and, even now, has an empire of politically active 527 groups, of which he is the number one donor, by far, in America.
There is a now infamous lunch whispered about between Soros and John Paulson, a Hedge Fund Manager who made millions during the collapse. Soros invited Paulson for lunch, “asking for details of how he laid his bets, with instruments that didn’t exist a few years ago”.Soros’s Hedge Fund, like most Hedge Funds, is based overseas and escapes much scrutiny and regulation.
Until He Comes,