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It is credit that matters, not money (in other words, monetarism is a false ideology).

George Soros

Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
GEORGE SOROS

Business Health Law Politics Society
Discount the obvious, bet on the unexpected.
GEORGE SOROS

Discount Expectation Inspirational Risk
Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
GEORGE SOROS

Investment Practice Science Submit
If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
GEORGE SOROS

Myself Operation Practice Skills Survive Training Word
I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Mistake Recognition Rich Wrong
What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
GEORGE SOROS

Country Resource Run Work
When money is free, the rational lender will keep on lending until there is no one else to lend to.
GEORGE SOROS

Freedom Money Oneself
The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
GEORGE SOROS

Country Independent Lying Right Strength Talk Thinking
Every bubble has two components: something – some real trend, and a misconception about that trend.
GEORGE SOROS

Component Concept Reality Trend
I chose America as my home because I value freedom and democracy, civil liberties and an open society.
GEORGE SOROS

Freedom Home Myself Open Society Value
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
GEORGE SOROS

Mistake Myself Pride Recognition Shame Wrong
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
It is credit that matters, not money (in other words, monetarism is a false ideology).
GEORGE SOROS

Fake Ideology Money Word
America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
GEORGE SOROS

Introduction Policy Process
If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
GEORGE SOROS

Care Democracy Establishment Freedom Guard Institution Safe Universe
The world order needs a major overhaul.
GEORGE SOROS

Need Order Stop World
In politics, manipulating reality can take presidence over finding reality.
GEORGE SOROS

Finding Manipulation Politics Reality
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
GEORGE SOROS

Attention Feature Influence Market Moral Oneself Participant Pay Positive Price
There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
GEORGE SOROS

Difference Future Investment Profit Success Yourself
Unfortunately, the more complex the system, the greater the room for error.
GEORGE SOROS

Complex Errors Fortunate Mistake Room System
The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that’s rather shocking for Americans to hear.
GEORGE SOROS

Myself Obstacle Opinion Stability Thinking World
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
GEORGE SOROS

Believe Enemy Myself Open Society Threat
I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
The worse a situation becomes the less it takes to turn it around, the bigger the upside.
GEORGE SOROS

Big Myself Situation Worst
The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
GEORGE SOROS

Difference Ideas Interest Kind Money Myself People Personal

It is credit that matters, not money (in other words, monetarism is a false ideology).

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It is credit that matters, not money (in other words, monetarism is a false ideology).

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