Friday, October 21, 2011
George Soros Funds Occupy Wall Street
George Soros Funds Occupy Wall Street
by Matthew Vadum 10/21/2011
Radical anti-American billionaire George Soros is a major backer of a left-wing group that is funneling money to the Occupy Wall Street movement.
The nonprofit organization at the receiving end of Soros’ largesse, Alliance for Global Justice, is managing donations benefiting the communists, socialists, anarchists and hippies now occupying Zuccotti Park in lower Manhattan. As of Oct. 19, OWS had taken in a grand total of $435,000 from all sources, including donations made by individuals online and in person, according to reports.
It should surprise no one that Soros (net worth: $22 billion), the ultimate Wall Street insider and preeminent funder of the activist Left today, embraces Occupy Wall Street.
As I note in my new book Subversion Inc., this Communist sympathizer co-founded the ultra-secretive Democracy Alliance, a billionaires’ club that wants to radically transform America. He has said that European-style socialism “is exactly what we need now” and favors American decline. Soros, a currency manipulator with an insider-trading conviction, praises Red China effusively, saying the totalitarian nation has “a better-functioning government than the United States.”
The Alliance for Global Justice has received grants from George Soros’ philanthropy, the Open Society Institute ($100,000 since 2004), and from the left-wing, money launderers of the Tides Foundation ($60,000 since 2004) that allows high-profile donors to give secretly to radical causes.
Much of the money received by the Tides network of philanthropies has come from Soros’ charity, according to philanthropy databases.
The Open Society Institute has given $24,599,553 to the Tides network of philanthropies since 1999. Of that total, $18,154,270 went to the Tides Foundation and the remaining $6,445,283 went to the Tides Center, which like the Alliance for Global Justice, serves as a fiscal sponsor for small or new activist groups.
A hotbed of anti-American activity, the Alliance takes money from the most extreme left-wing philanthropies operating in America today. The Alliance has accepted grants from the (pro-Fidel Castro) Arca Foundation ($185,000 since 2001), General Service Foundation ($165,000 since 2001), and Foundation for DeepaEcology ($30,000 since 2000), an anti-science environmentalist group that regards human beings as a cancer on the earth.
Alliance for Global Justice is a “fiscal sponsor,” which means that it serves as a financial clearinghouse for radical causes that haven’t filed papers to incorporate themselves as nonprofit organizations. Donors give money to the Alliance and are then able to deduct the donations from their income tax even though the cause they are funding isn’t recognized as tax-exempt by the IRS. Fiscal sponsors take a percentage of donations as management fees, and then pass on the rest to the cause favored by the donor.
Founded in 1998, the Alliance, which is headquartered in Washington, D.C., has a long history of anti-American activism. The Alliance and its resident, Katherine Hoyt, are longtime supporters of the Sandinista (Communist) movement in Nicaragua and the Zapatistas, a Marxist-Leninist guerrilla movement in Mexico.
When a credit card-processing glitch caused the Alliance’s website to reject $144,000 in donations for Occupy Wall Street, Hoyt claimed that an evil capitalist conspiracy was afoot. “I can’t help but believe that politics must be involved somewhere,” Hoyt said in a statement on the Alliance’s website.
It turns out the donations were rejected because of the Alliance’s own technological blundering, so Hoyt’s comment was scrubbed from the website. Alliance leader Chuck Kaufman blamed technology for the banking error.
“Our group normally processes a dozen donations a week, so all of a sudden Occupy Wall Street took off and it was 400 per day,” Kaufman said. “We just didn’t understand the banking architecture.”
Other causes supported by the Alliance include the antiwar group World Can’t Wait (a spinoff of the Revolutionary Communist Party), and Courage to Resist, which encourages U.S. soldiers to desert and supports accused traitor Bradley Manning of WikiLeaks infamy. Its leaders also have an abiding hatred of Israel. The Alliance has funded anti-Israel groups including Israeli Anarchists Against the War and Bil’in Center for Joint Struggle.
The Alliance for Global Justice’s antipathy toward things that Americans revere makes it a perfect business partner for George Soros.
To read another article by Matthew Vadum, click here.
To read more about George Soros - The Puppetmaster, click here.
To read a lot more about Occupy Wall Street, click here.
Posted by Brett at 9:59 AM