Friday, August 01, 2008
Exxon Mobil 2Q Profit Makes War
Profiteer George Soros More Wealthy
Of course, this is infuriating the Democrats. The Guardian:
Four senior Democrats in Congress called a press conference today to lambaste the largest US oil companies for spending more on stock buy-backs to enrich shareholders than on energy exploration.
Soros began making purchases of Halliburton stock in the third quarter of 2005. He accelerated his buying in the fourth quarter of 2006, when the stock was trading near its low ($26.33) of the last four years. His purchase prices were between $27.62 and $33.53, with an estimated average price of $31.3. As of 12/31/06, Soros owned 1,999,450 shares, more than 2% of his total portfolio, making Halliburton his hedge funds' biggest investment of 2006.
What is interesting about this is that according to the Rense story, big Soros-funded sites like DailyKooks and Moo-On and his Center For American Progress (CAP) bashed and denigrated Halliburton, painting it as a company for War Profiteers.
So Sugar Daddy György uses the organizations he funds as smear merchants to bring down the price of Halliburton from $40 to a low of $26. And when the stock price hits $26/share, Soros starts buying!
György Schwartz aka George Soro:
Oh, how he would be hated by Liberals if he were a Republican.
Let's recap: Soros uses his bastard children DailyKooks, Moo-On and CAP to bad-mouth Halliburton. The price per share drops. Then Soros jumps in and starts buying up their stock. I guess if you're a big enough player you can use media manipulation to your advantage thereby drastically dropping the price of a stock you want to buy.
It is also interesting in terms of timing, that after Soros began buying Halliburton stock, Kos, Moo-On and CAP all went silent and stopped their criticism of Halliburton. Rense notes that "Soros-backed groups such as MoveOn.org, went silent on Halliburton," after he started buying up shares. They went "silent on Halliburton." Oh, that just must be a coincidence. 'Ya think?!
Rense also notes that:
2005 was also the year in which George Soros hedge funds began major speculation in oil majors and futures. The funds owned stocks of 17 oil producers, from Exxon Mobil, Chevron, and Conoco-Phillips to Devon Energy and Pioneer Natural Resources. He bought Halliburton along with a bunch of other "oil servicers": Schlumberger Ltd., BJ Services Corp., Noble Corp., etc.
I wonder if the Rense story would have received widespread MSM coverage if Soros was a Republican and a big donor to the Republican Party? 'Ya think?
No one really knows the full extent of harm that Soros is doing to the American economy and the declining value of the dollar because the MSM won't report on it.
Go ahead Liberals and Progressives, bury your collective heads just a little bit deeper in denial and hypocrisy. It must be swell being part of The Insane Liberal Clown Posse, never holding their own members responsible and accountable to the standards that they apply to everyone else.
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