Billionaire George Soros' family office hedge fund, Soros Fund Management, filed its 13F quarterly report with the Securities and Exchange Commission yesterday.
As Marketwatch reporter Barbara Kollmeyer points out, one interesting highlight from Soros' filing is that he bought a bunch of puts on the SPDR S&P 500 ETF in Q2.
It's his biggest holding in the filing.
During the second quarter ended June 30, Soros held 26,157 shares of SPDR S&P 500 and call options on 143,600 shares and put options on 7,802,400 shares in the ETF.
‘Panicked’ Soros Bankrolls Obama Campaign
George Soros is airdropping bushels of cash to the Obama campaign because the preeminent funder of the Left is reportedly “panicked” that Mitt Romney could win in November and halt America’s ongoing slide into socialist chaos and civil unrest.
Soros’s alarm at the prospect of a Romney victory may also have led him to squelch a report in the Soros-funded Mother Jones magazine that revealed his desperate state of mind.
“Is there possibly some panic among the liberal elite that the media are not telling us about? Amazingly, Mother Jones might have accidentally provided a clue – and then quickly covered it up,” opines Big Journalism.
After Romney pulled even in recent national polls –and after pledging for the umpteenth time to get out of electoral politics– America’s anxious would-be undertaker committed to spending an extra $1.5 million on reelecting Obama and helping congressional Democrats. Soros previously bankrolled a leftist scheme called the Secretary of State Project that aspired to rig elections from coast to coast. He also indirectly funded Occupy Wall Street.
A currency speculator and convicted inside-trader, Soros is a practiced hand-wringer who frequently tells gullible reporters he is getting out of electoral politics altogether. This is his mantra between elections even though he never actually follows through on the threat.
Soros openly favors the collapse of the greenback and the decline of America in general. “The main obstacle to a stable and just world order is the United States,” he has said. He has also said European-style socialism “is exactly what we need now.” He praises Communist China effusively, saying the brutal totalitarian nation that literally cuts babies from unauthorized pregnancies from the wombs of their mothers and runs over eminent domain resisters with steam-rollers, has “a better-functioning government than the United States.”
Soros also seems to suffer from messianic delusions, describing himself as “some kind of god, the creator of everything.” During World War II, Soros accompanied his guardian around Nazi-occupied Hungary as he confiscated the property of Soros’s fellow Jews. Years later he referred to that time as “probably the happiest year of my life” and “a very happy-making, exhilarating experience.”
Soros will give $1 million to Priorities USA Action, the super PAC that produced the infamous TV ad in which ex-steelworker Joe Soptic falsely blamed his wife’s tragic cancer death on Romney. Soros is splitting $500,000 between Majority PAC and House Majority PAC, both of which back Democrats seeking congressional office, the New York Times reports.
The Obama campaign also appears to be panicking. Chicago’s mayor, the ruthless former Obama White House chief of staff Rahm Emanuel, is exiting the Obama campaign to help raise money for Priorities USA Action. If anyone can put together an ad more loathsome than the Soptic spot, Emanuel’s the man.
The new donations were announced by Soros spokesman Michael Vachon at a luncheon Thursday hosted by the Democracy Alliance, an invitation-only club for radical plutocrats. (Former President Bill Clinton and former House Speaker Nancy Pelosi were also in attendance.) Members of the ultra-secretive Democracy Alliance have committed to swamping Democrats and President Obama’s re-election campaign in an ocean of cash this year. Donations could easily reach $100 million or much more before Election Day, especially because other Democracy Alliance members are following Soros’s lead.
The ultra-secretive group, founded in 2005, is a financial clearinghouse that recommends to its wealthy members projects and groups that aspire to dismantle America as we know it, delivering the nation to Greek-style socialist mayhem. The group has directed untold hundreds of millions of dollars to left-of-center causes.
To quell rumors that he was unhappy with Obama, Soros sent an email to other luncheon guests saying, “I fully support the re-election of President Obama.” Soros wrote that he was “appalled by the Romney campaign, which is openly soliciting the money of the rich to starve the state of the money it needs to provide social services.”
This new $1.5 million is over and above the $1 million that Soros pledged to America Votes, a get-out-the-vote group, and the $1 million he pledged to American Bridge 21st Century, a super PAC headed by the legendarily sleazy gossip columnist and admitted serial liar David Brock.
Meanwhile, Mother Jones, the media outlet that described Soros as “panicked” because Obama has yet to deliver a knockout blow to Romney, offered what looks like a case study in media corruption. The magazine posted a hard-to-believe retraction of the online story that contained the otherwise perfectly believable description of Soros’s state of mind.
Integrity is in short supply at Mother Jones, which recently published the Romney “47 percent” video in an effort to help Obama even though possibly critical minutes of the off-the-cuff speech were missing. The magazine was founded by the same Marxists, hippies, and Sixties leftovers who facilitated America’s suicide attempt more than 40 years ago.
The article appeared on the magazine’s website for a while Thursday but was abruptly spiked. A notice indicated, “The story was based on information provided by a source; the source contacted us after the story was published and said the information was incorrect.”
The article quoted an unidentified friend of Soros saying, “I was really dumbfounded when I heard his voice on the other end of the phone. He was the last person I ever expected to hear from, given how antithetical he was to the big money slopping around the system. But he said that he was panicked about the fact that Romney could win this.”
An unidentified Democratic strategist –it’s not clear if it’s the same person as the unidentified friend— was described as saying, “What I find amazing about liberals and progressives is that they always wait till the last minute. It hadn’t dawned on this group of people before that this was a tight race. It stupefies me.”
It seems likely that Soros or someone close to Soros complained to Mother Jones and the story was pulled.
I tried to find out what happened.
The author of the article, Andy Kroll, referred my inquiries to Clara Jeffery, the magazine’s co-editor-in-chief. Jeffery denied being pressured. In an email she said:
Not sure what else I can add without repeating the error. Basically a source in a position to know about Soros’ donation (the fact of which has been previously reported far and wide), told us details that they then realized they’d been in error about. The source admitted the fault was theirs, and not Andy Kroll’s. We took the story down immediately upon hearing from source and issued the correction. To do otherwise would, in our opinion, [have] been journalistically irresponsible. We did not hear from Mr. Soros or his representatives.
With that said, it is a fact that the magazine’s 501c3 nonprofit, Foundation for National Progress, has received funding through Soros’s philanthropies, Open Society Institute ($225,000 since 2008) and Foundation to Promote Open Society ($100,000 since 2010).o
Democracy Alliance chairman and Taco Bell heir Rob McKay was a member of the magazine’s board. Through the McKay Foundation he has given the Foundation for National Progress $165,000 since 1999.
Democracy Alliance member and RealNetworks CEO Rob Glaser has given FNP $211,329 since 1999. Another member, Stephen M. Silberstein, has given $117,000 since 2001 through his eponymous foundation. The Soros-funded Tides Foundation, founded by Democracy Alliance member Drummond Pike, has kicked in $126,417 since 2003.
Jeffery suggested the money played no role in the retraction:
The individuals (or their foundations) you mention are among the many people and institutions who have donated money to the FNP over the years; some of those you mention have not donated to the FNP in many years. Nevertheless, when we’ve had occasion to write about them, or the Democracy Alliance, or OSI, we disclose this to our readers.
When I pressed Jeffery, asking her if the source specifically took back the claim that Soros “panicked,” she refused to answer, writing, “Sorry Matt, [I] just don’t have anything to add past what I’ve told you and what we’ve posted.”
Who knows how many more intrigues, cover-ups, and October surprises the Soros-funded magazine has waiting in the wings.