George Soros has made his money making high-risk trades, especially in currencies. He knows how to make money. Lots of money.
He is also a verbal defender of what he calls the New World Order.
He has sold his shares in large American banks. He has bought gold.
Why would a big Obama supporter do this? Because he is a skilled investor.
One commentator notes:
Soros, who has written extensively of a coming global paradigm shift in his book The Crash of 2008 and What It Means, calling the current economic and political model ”an end of an era,” has recently suggested that the financial and economic situation across the world is so serious that Europe could soon descend into chaos and conflict. He also notes that the world is entering “one of the most dangerous periods in modern history”, and foresees violent riots in America and a brutal clamp-down by the government that will dramatically curtail civil liberties.
This is an individual who not only predicted the collapse of 2008 and took action to insulate himself, he also proposed the various fixes that governments in Europe and the US would eventually implement in order to stave off a deflationary depression. In his aforementioned book he suggested that central banks infuse the system with massive amounts of monetary expansion, but also warned that not injecting enough money would simply extend the onset of deflation and printing too much could lead to hyperinflationary currency collapse.
I say, good for him. He has at long last come to this position Ludwig von Mises took in 1912. Better late than never!