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Government: Residency bond criticism down to ‘Soros’s interests’

Government: Residency bond criticism down to ‘Soros’s interests’

Transparency International has savaged the Hungarian government’s residency bonds scheme “because it harmed George Soros’s business interests”, the government communications centre said on Monday.

Hungary had to repay an IMF loan between 2012-2016, which “Soros would have gladly financed”, the centre said in a statement. Instead, it opted to repay the loan “using retail forex and residency bonds”.

This is why “organisations financed by Soros keep slandering the residency bonds scheme,” the statement said.

A recent study commissioned by TI said the government had had “no reason to finance itself from residency bonds sold to rich foreigners”. It could have saved 21 billion forints (EUR 64.6m) had it issued bonds rather than the contested residency papers. In the meantime, “massive public funds went to brokerage firms of obscure backgrounds.”

New-Year

The government responded that it had made big savings on interest payments.

In May 2013, the interest paid on the IMF loan was over 4 percent, while the interest on the residency bonds stood at 2.53 percent, it said, adding that interest on residency bonds had stayed below that of Hungary’s Premium Euro state securities throughout the five years of the scheme.

Further, the Hungarian state did not pay a commission to brokers working on the residency bonds, it said, adding that they had received a 1 percent commission for selling state securities.

As a result, the state saved nearly 3 billion forints (EUR 9.6m) on residency bonds rather than securities between 2013-2017, the statement said.

Featured image: www.facebook.com/TransparencyInternational

Source: MTI

1 Comment

  1. Sander Driessen

    Bomb in mailbox of house billionaire George Soros possibly consequence of conspiracy theories. At the home of billionaire and philanthropist George Soros (Schwartz György) in Westchester County, New York, an explosive was found on 22.10.2018. It was hidden in a package that was opened by a Soros employee. According to The New York Times he brought the parcel to a wooded area and called the police. Soros himself was not at home. The bomb has been detonated as a precaution. Nothing is known about the possible perpetrator. The FBI is doing research. The 88-year-old Soros is a popular target of wild speculation in the right-wing conservative and so-called alt-right circle. It would not be the first time that in the United States someone is acting on conspiracy theories that circulate online. Two years ago a man armed with an automatic rifle forced into a pizzeria in a suburb of Washington after fake stories about child abuse by prominent Democrats (‘Pizzagate’). Last week, Matt Gaetz, a Republican congressman, posted a video on Twitter of migrants in Guatemala who would be on their way to the US. Money is distributed on the video, presumably by a local drug cartel. Soros? – tweeted Gaetz. Time to find out the source! Later he admitted that he had no proof for that scenario. He just wanted to ask questions. Actress Roseanne Barr called Soros a Nazi on Twitter. In Holland the Forum for Democracy (FvD) chairman Thierry Baudet wondered who was actually ‘the boss’ in Holland. Is it Soros, is it Sauer? Soros ‘earned’ a fortune on the stock market by speculating against the British pound in the early 1990s. The second most hated billionaire in New York, he is jokingly mentioned in American media, referring to the current resident of the White House. Since the 1980s Soros is working with his Open Society Foundations (OSF) for democratization, minorities such as the Roma and refugees. In his native Hungary, his name (Schwartz György) has become synonymous with everything that is not good for globalization. Prime Minister Viktor Orbán sees Soros’ agenda as an infringement of Hungarian sovereignty. Orbán had the face of the Jewish billionaire put on billboards and aprons throughout the country. On some posters Soros was depicted as a doll player, according to critics a clear anti-semitic trick. Why? Wherever misery occurs, this monster is involved! Only certain ‘critics’ paid by Schwartz, such as Verhofstadt and Van Baalen, always take it for granted! The man himself appears sometimes in public. If he still gives ‘lectures’ as in 2018 at a fancy think-tank, he does so. In an interview with The New York Times this summer, Soros said that his ideal of open democracies around the world is ‘losing out’. The hot atmosphere around his person falls heavily on Soros. He wished he had more friends! Really? George Soros: Hungary’s most notorious son and Orbán’s natural target. Look at the interview that Steve Kroft had with this guy at the time: https://youtu.be/W8Id0-Lsyr0

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