LYNDON LaROUCHE political action committee
From: Don Phau EIR News Service
Obama's British Funder, George Soros, is a Profiteer of "Bush's War" 13 Jun 2008
June 12, 2008 (LPAC)--After funding the launching of Barack Obama's political career, and while funding MoveOn.org, Center for American Progress, etc. to attack Dick Cheney's Halliburton Corp. war profiteering, George Soros was steadily buying Halliburton's stock. Soros had bought millions of shares of Halliburton by the beginning of 2007, when the stock's price, under the constant political pounding, had been cut from a high of $40/share down to $26. Then the MoveOn.org, etc. political attacks largely stopped, and Halliburton began its rise to today's price of $50.
The Anglo-Dutch oligarchy's billionaire opponent of `Bush's War' and `Cheney's Halliburton,' 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.
The Soros-funded Center for American Progress, which had published dozens of scathing articles on Hallburton since its founding by Soros in 2003, went silent. Criticism of Halliburton by CAP ceased in 2006 shortly before Soros began his big purchases to accumulate 2 million shares. Likewise, other Soros-backed groups such as MoveOn.org, went silent on Halliburton. Listen to the false naivete of a big blog in the same political grouping, Daily Kos, on 3/4/2007: "I guess Soros has his reasons for buying the stock of a company such as Halliburton. Soros has remained a financial speculator while putting on other hats such as saving the world etc.... Maybe Soros plans on changing the company in some way. Maybe Halliburton could become a `green' company?"
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 ExxonMobil, 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.
Predicting publicly in 2005, at Davos and elsewhere, that the dollar was going to drop sharply, Soros had his funds (along with those of Bill Gates and Warren Buffett) buy gold futures and oil futures beginning early that year. In March 2006 at Davos, he predicted oil price shocks. In late 2007, his "predicted" oil price shocks began hitting, although his claim is that he got the funds back making billions by betting on the mortgage bubble's, and dollar's, collapse.