Friday, June 25, 2010
Glenn Beck Exposes George Soros' Ties to Petrobras
...perhaps his (Soros)most effective creation is the Center for American Progress. When the group formed in 2003, he promised $3 million, but that number could be higher as Soros admits to spending $500 million a year on his various foundations.
Back in 2003, Democrats were floundering and on the verge of irrelevance. They needed an "intellectual coup" just like the conservative Heritage Foundation achieved in the '80s. Center for American Progress provided just that; it's a progressive policy think tank that believes in "government that champions the common good over narrow self-interest" and they have heavy influence on this administration.
Bloomberg reported that the Center for American Progress "helped build the platform that triumphed in the 2008 campaign" and Time Magazine noted that "not since the Heritage Foundation helped guide Ronald Reagan's transition in 1981 has a single outside group held so much sway."
At the head of Obama's transition team was John Podesta. He's also the founder of Center for American Progress, a former Clinton administration official and the guy who not only laid out the plan for how the Obama team would be put together, he staffed the senior levels of the White House, Cabinet members and the top layer at government agencies.
With that kind of influence — and we'll show you more evidence of that influence coming up — it's important to look at what Soros is investing in. Could there possibly be any, what do they call them, conflicts of interest?
Through his Soros Fund Management hedge fund, Soros is heavily invested in many different things. But one that caught my attention (and seemingly no one else's) recently is Petrobras. What is that? It's Brazil's state-controlled oil behemoth. It's Brazil's version of Big Oil. They've netted $15 billion in profits during the last year. As of March 31 this year, SEC filings show Soros Fund has $637 million vested in Petrobras. Last December, the fund had $900 million invested in the company, making Petrobras one of its two largest stakes.
What did Soros see in these guys that the rest of the world didn't? Is he just that much smarter than everyone else? Or is it possible because of Center for American Progress and all the other connections Soros has at the White House, he knew that the administration would be making a $2 billion "preliminary commitment" to Petrobras for "exploration," just days after he strengthened his investment? Or was that just another one of those bad luck situations for Obama? Because it certainly doesn't seem to pass the smell test: A billionaire investor dumps money into state-controlled Brazilian oil company and days later administration dumps $2 billion dollars into the same exact company? Now the administration is crippling the American competitors and the biggest winner in this is Petrobras.
Mind you, this is a multi-billion dollar company that rakes in tens of billions in profits each year. Why in the world would these guys need a loan? And why are we investing in another country's offshore drilling while banning ours?
Yes, why indeed are we doing this? Attorney General Holder, I don't suppose you would look into this appearance of wrong doing on behalf of our executive administration and one of the wealthiest men in the world who happens to be a staunch supporter of that administration, would you, sir?