When Billionaires Clash

April 12th, 2012
in Op Ed

by Dirk Ehnts

soros(Picture is of George Soros.)  The WSJ has been reporting on the INET conference (which I will intend as a member of the young scholar initiative) writing the following:

This, too, is a gathering of Soros supporters. INET is bringing together prominent people like former U.K. Prime Minister Gordon Brown, former Fed Chairman Paul Volcker and Soros, to produce "a lot of high-quality, breakthrough thinking."

While INET claims more than 200 will attend, only 79 speakers are listed on its site - and it already looks like a Soros convention. Twenty-two are on Soros-funded INET's board and three more are INET grantees. Nineteen are listed as contributors for another Soros operation - Project Syndicate, which calls itself "the world's pre-eminent source of original op-ed commentaries" reaching "456 leading newspapers in 150 countries." It's financed by Soros's Open Society Institute. That's just the beginning.

Follow up:

OK, so George Soros knows some economists and gives away grants for research that the board of INET judges as helpful. However, the article ends like this:

The Soros empire is silent about this new Bretton Woods conference because it isn't just designed to change global economic rules. It also is designed to put America in its place - part of a multilateral world the way Soros wants it. He wrote that the U.S. "could lead a cooperative effort to involve both the developed and the developing world, thereby reestablishing American leadership in an acceptable form."

That's what this conference is all about - changing the global economy and the United States to make them "acceptable" to George Soros.

Hmmm. That reminds me of the notorious Glenn Beck, whose attacks on Soros made me think of Nazi propaganda. It was ridiculed by Jon Stewart in a hilarious video you can see here (go to Part II).


Now let's have a closer look at that WSJ article. It was written by one Dan Gainor and at the bottom of the article it says:

Mr. Gainor is the Boone Pickens Fellow and the Media Research Center's Vice President for Business and Culture.

It seems that the WSJ article was published at the Media Research Center first (link). Now at their homepage they have a section which says "About US". Here is what it says:

The Media Research Center Celebrates 25 Years of Fighting Liberal Media Bias!

The Media Research Center is proud to celebrate 25 years of holding the liberal media accountable for shamelessly advancing a left-wing agenda, distorting the truth, and vilifying the conservative movement.

Since 1987, our unwavering commitment to neutralizing left-wing bias in the news media and popular culture has influenced how millions of Americans perceive so-called objective reporting.

Well, that is a strange way of conducting journalism. Perhaps propaganda is a better word for this. Let's continue to find out what a Boone Pickens fellow is. The person behind the name has a Wikipedia entry and it starts like this:

Thomas Boone Pickens, Jr. (born May 22, 1928), known as T. Boone Pickens, is an American business magnate and financier. Pickens chairs the hedge fund BP Capital Management. He was a well-known takeover operator and corporate raider during the 1980s. With an estimated current net worth of about $1.4 billion, he is ranked by Forbes as the 328th-richest person in America and ranked 879th in the world.[1]

So, one speculator/corporate raider billionaire pays a guy to smear another speculator billionaire's event, throwing around conspiracy theories about George Soros wanting to destroy America, which is basically based on the strange programs of Glenn Beck (see above) on that same topic. And that "reporting" finds its way into the Wall Street Journal. Which, by the way, is not and has not been reporting anything on the club of the powerful named Bilderberg Group. If you google "Bilderberg" at http://online.wsj.com/search/full.html, the only link that comes up is this blog entry which was not published in the paper. (If you are not familiar with the Bilderberg Group, here is their website and their entry at Wikipedia.)

This is not class war - it is billionaire against billionaire. Take a seat, have a cookie and watch as the story unfolds.


Articles by Dirk Ehnts

analysis blog opinion blog


About the Author

Dr. Dirk Ehnts is a guest lecturer in monetary macroeconomics at the Berlin School of Economics and Law.   His focus is on economic integration and economic geography, covering trade, macro and development. He is working at the chair for international economics since 2006 and has recently co-authored a book on Innovation and International Economic Relations (in German). Ehnts has written at his own blog since 2007: Econblog 101. Curriculum Vitae.

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  1. DrBernard says :

    This is extremely shallow. Besides, why is no attention called to obvious error? Gordon Brown and Bretton Woods are ancient history, compared to what's going on with INET in Berlin 2012.

    The "false equivalence" of Soros and Pickens is ludicrous. If this young "reporter" aspires to fame and glory, he should dig deep for facts or join Fox.

    This piece is a disgrace, unworthy of this site.

  2. Admin (Member) Email says :


    Interesting comment. I don't see a false equivalence presented. I see a valid observation that a spokesman supported by T. Boone Pickens is attacking an economic conference which is supported by George Soros with political arguments with no regard for (and possibly no knowledge of) the economics to be presented and discussed. I know a couple of the presenters (and have previewed the paper of one) and there is no way that a political orientation is evident in any way.

    The paper I have reviewed could be well embraced or disputed by "conservatives" or "liberals" alike, but not in any way on political grounds.

    Perhaps I reacted to the author's commentary differently than you because of this "insider" information. I may have read more into the content than would be done by others as a result.

    Or maybe you are just more perceptive than I am.

    John Lounsbury

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