Printer-friendly versionSend to friend

June 13, 2008 (LPAC)--As early as the 1950's, George Soros was already playing a key role in the destruction of the United States. Forced out of trading oil stocks after the 1957 Suez Crisis, Soros was brought into Wertheim & Co. as a European securities analyst. There, he enticed US investors to put their money into the European market boom, laying the groundwork for the Euro-dollar market which sucked US dollars out of the country to be lent out, unregulated, by European banks. The intended effect of this trading (or treachery) was to get the US to break with Franklin Roosevelt's Bretton Woods System.

As a trader and analyst, Soros accumulated data and, using money from big US investors, bought securities from one country, and quickly sold them in another, profiting from the difference. In his book, Soros On Soros: Staying Ahead Of The Curve, he writes, "I became one of the leaders of the European investment boom…I had institutions like Dreyfus Fund and J.P. Morgan practically eating out of my hands because they needed the information. They were investing very large amounts of money; I was at the center of it. It was the first big breakthrough of my career."

In 1963, President John F. Kennedy's administration faced the problem of US dollars flowing out of the country through such foreign investments, and we did not have enough currency flowing back in (i.e. we couldn't guarantee all the dollars floating around the international markets). Kennedy knew that a monetarist solution, which he was advised to implement, would be devastating. He could not cut foreign aid for the defense and reconstruction of Europe. He could not deny productive citizens access to credit by raising interest rates. And, most importantly, he refused to devalue the dollar— because the devaluation of the US dollar would have broken the Bretton Woods System. It was the aim of Soros and his British controllers, to create the conditions where that system would be broken.

Faced with the British attack on the US dollar, Kennedy rejected the monetarist solutions. Instead, he introduced the 1963 Interest Equalization Tax, placing a 15% tax on US foreign investments. On July 18, 1963, Kennedy told the Congress, "Since the effectiveness of this tax requires its immediate application, I am asking Congress to make the legislation effective from the date of this Message." Immediately after Kennedy's message was made public, the foreign markets cooled down, and the dollar began to regain its strength. George Soros recalled, "My business was destroyed overnight."