George Schwatrz-Soros starts out expressing what his Market and Human fallibility theory is:
1) @ 3:16 to 3:24 on the video
"Rational human beings don't base their decisions on reality, but on their understanding of reality; and the two are never the same."
2) @ 4:24 to 4:31
"...Markets are unable to assure the optimum allocation of resources."
Then leaving his theory aside, says he states how that the US and Germany are nations having too much surplus wealth in the world. After a few minutes he opines:
@ 13:12 to 13:39
"For instance, Europe, European banks hold more than a trillion uh, uh euros of Spanish debt, of which more than half is held by German and French banks. The large provision seems to endanger the credit worthiness of the European banking system, depriving them of the capacity to add to their positions."
In other words, Soros basically says that Germany and France should forgive 500 billion euros of Spanish debt, and take the hit as redistributive wealth, because they endanger the entire European banking system by carrying too much debt for other nations...or being too wealthy. A criticism he refuses to place China or Japan in the same tank for, both of those nations having an equal amount of currency exchange rate debt carrying for the United States.
He immediately then states that the creation of the Euro was what caused the European banking crisis in 2008, before inferring that this Euro (the very demonstration of a One World Currency), even applied in the very best scenario of a Western European and regional multi-national environment, was an experiment THAT FAILED. And then obliviously ignores the very points he has just conceded.
One thing for certain...in a one-on-one debate, Soros' opponent can utterly destroy Soros' by using Soros' own concessions and self-contradictions in the arguments and "solutions" he presents.
He infers the need of a centralized and centrally controlled Euro bank, but he does not bring what he truly believes in -- Communism renamed as "State Capitalism" -- to the forum. He just tries to Cass Sunstein "nudge" you to draw that same conclusion for yourself.
@ 16:53 ff. we find Soros blaming Germany:
Says Soros: "Germany, which had been traumatized by two episodes of runaway inflation...since Germany was heading into elections, it was unwilling to ACT...so the Greece crisis festered and spread."
Germany, says Soros, was the real reason for the Greece financial meltdown. In short, Soros blamed the European domino effect of banking crises at the feet of Germany and its national banks, not on Greece or its runaway spending, excessive corruption and labor union cost-increase excessives.
But look on the horizon, the savior nation of the world (in the mind of Soros):
@ 18:06 to 18:16
"The turning point came when China re-entered the Market and bought Spanish bonds and the Euro."
China, if you remember, is the economic engine, the COMMUNIST ENGINE renamed as State Capitalism, that Soros wants to bow down to, and the rest of the world bow down and submit to as the new masters of the financial world, and all that such entails.
George Soros, according to his interview with Chrystia Freeland in New York of the Financial Times of London on October 23, 2009, advocates that China will be the new and smaller engine of the New World Order, replacing the US as a world leader, and that China would drive the Financial Sections of the world.
Soros in this Financial Times interview also openly advocates a new world currency forced upon the US. He says that China will be the new (albeit smaller) engine, and that the US is a “drag” upon the world.
So what between his speech to the Financial Times and now has changed?
Compare the speech with the schmooze Soros gave on CNN's GPS with Zakaria Fareed on February 28, 2010, wher Soros stated:
"Regulators are always behind the curve", therefore "the market should not be regulated."
"When I see a bubble, I buy that bubble, because that's how I make money"
...compare that with the George Soros who is trying to influence the market by his speeches to academics and economists, in order to create a wave of hysteria that shakes the Wall Street Markets so that he might sell short (bet / gamble on losses to stocks and stock value) and make more money. Perhaps Soros sees forums like Columbia University, and the brain trusts gathered there to then go out and frighten the Stock Market Casino participants and operators, so as to reduce the odds of the house and make the gambling percentages more in his favor. After all, as Soros says in the above video about his theory of Human Fallibility and how he likes to operate:
"Rational human beings don't base their decisions on reality, but on their understanding of reality; and the two are never the same."
Again, on February 28, 2010, when asked by Fareed Zakaria about the US Markets needing to become more like the Chinese Model, in which Communism was called "State Capitalism" by Fareed, George Soros replied, " Again you, if you want to keep on going, they [the Free Markets] will have to modify their models."
In other words, Soros wants a Communist "State Capitalism" world, where the money and finances are centrally located and run by the Chinese. We cannot take his speech at Columbia University to say that Soros condones individual sovereign states as individually running their countries as Communists in the Stae Capitalism Marketplace. Clearly, Soros intends and means to use all his finances and resources to enslave the West, beginning with the United States, to be subject to the masters and "smaller engine" of the Chinese economy turned super-economy, as if he were bowing to the Imperial Emperor of Japan in World War II and following a like legience...but modernly, in our day, the masters are not Japanese militarily making the conquest, they are Chinese Communists economically buying up and taking over almost invisibly in their conquest of the world.
Just last month on October 7, 2010; at Project Syndicate, where George Soros makes his literary home, Soros wrote a piece called: "Wanted: Chinese Leadership on Currencies"
Soros admires that the Chinese use a deceptive two-tier currency, where the renminbi has both a current and a capital account, whereby the capital account is very tightly controlled, allowing the Chinese to operate as if with a devalued currency, and rake in the profits by how they are to manipulate export prices and exchange rates into their favor. He essentially goes on and states that China needs to step up and take over as a world financial leader, and use its currency to stabilize the world markets (code for "replace the dollar").
I think that the one main overall point we can take away from the Columbia Speech, is that Soros, who elsewhere in his writings might be said to more or less have once identified himself with the Hungarian Gypsy Communists (upon going to Hungary in 1984 and establishing one of his foundations there), has clearly moved away from a once pro-Soviet "Open Society" acceptance of Communism into a wild-eyed and perfidiously sneaky fanatical Maoist "Open Society" Communist ideologue.
@28:54-29:14 of the above Columbia University video, Soros laments
"It would have been more effective to inject new equity into the balance sheets of the bank. But the Obama Administration considered that politically uncceptable, because it would amount to nationalizing the banks. And it would have been called "socialism". "
@ 30:59 to 31:11, Soros "nudges" a lie to the elite of Columbia University, and there is dead silence...no outcry, not even a coughing fit.
"But to cut back on Government spending at a time of large scale unemployment would ignore all the lessons learned from the Great Depression."
Actually, it was the Government's spending and spending programs that deepened the Great Depression and made it worse. Soros is advocating not just a Socialist deliverance, but a Chinese Communist led one. Really? So, George, will the age of the new American factory worker that you are "nudging" for, will that now begin at age 6, and the American diet consist of a bowl of rice and water, because that's all we will be able to afford in the New Chinese Economy while you eat steak, potatoes, and green veggies?
I think that Columbia University has gone so far left in their elitism that they have, at least in appearance, either turned Communist-Socialist, or that they have lost their minds. In a new Communist Society, the elites are among the first to be "purged" out of the new "Open Society" of Communism. Oh yeah, enable the very guy who would love to see you all eliminated. Where in 20th Century history have we seen that before? The crowd attending Soros' speech are apparently utterly clueless as to the answer.
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Additional Update 11/18/2010:
More Soros (relevant other) video found posted at the Blaze.com
end update
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