Facebook, Google Pose Health Risk Foreign Spies May Exploit — George Soros

Facebook, Google Pose Health Risk Foreign Spies May Exploit — George Soros

He described the administration as "a danger to the world" but said he expected a landslide win during the 2018 midterm elections in the U.S.to turn the tide on the presidency.

At least that's what the Hungarian billionaire George Soros believes, who foresaw the fall of the pound in 1992 and earned the nickname of "the man who caused the bankruptcy of the Bank of England". "I find the current moment in history rather painful", he said at the outsef of his remarks.

"Russia is a mafia state", Soros said.

He also described Russian Federation under President Vladimir Putin as a "mafia state" and called United States President Donald Trump a "danger to the world".

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Soros stated that President Trump had set the United States on a path towards nuclear war due to his interactions with North Korea and Kim Jong Un.

Harsh as they were, Soros's criticisms of Trump weren't exactly surprising. George Soros isn't involved in the day-to-day management of that organization. Last year, Soros predicted the stock market rally would soon come to an end and a global recession could start due to China's unsustainable growth rate. Soros went on: "I give President Trump credit for motivating his core supporters brilliantly, but for every core supporter he has created a greater number of core opponents who are equally strongly motivated".

Soros's goal is to help re-establish a functioning two-party system in the United States, which will "require not only a landslide in 2018 but also a Democratic Party that will aim at non-partisan redistricting, the appointment of well-qualified judges, a properly conducted census and other measures that a functioning two-party system requires".

As the industry changes, a new business model at social media companies is emerging based not only on advertising revenue but on selling products to users, Soros said. Soros called them "ever more powerful monopolies" that hinder innovation and subvert democracy, affecting "how people think and behave without them even being aware of it".

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"But the fact that they are near monopoly distributors makes them public utilities and should subject them to more stringent regulations, aimed at preserving competition, innovation, and fair and open universal access".

Soros suggested that the tech giants could ally themselves with authoritarian regimes to supply information on their citizens. Soros compared social media to gambling's addictive qualities, noting Facebook uses similar techniques to casinos, luring people in and enticing them to spend more and more time with them. This may have far-reaching political consequences.

The dominant global creed has reverted from worldwide governance to nationalism, Soros argued. And "there is an even more alarming prospect on the horizon", he added.

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