"In the United States, President Trump would like to establish a mafia state, but can't", the financier George Soros told the World Economic Forum in Davos on Thursday. He said his Open Society Foundation is funding more institutions in the US rather than the third world to ensure a Democratic victory in November.
To prevent such an escalation, Soros said, the world's major geopolitical actors must now accept that the rogue state has a nuclear programme.
He said that the Donald Trump government is a " danger to the world " and added that he believed that the president, whom he described as "aspiring dictator", might not last until the end of his term.
While Soros is often criticized by conservative figures who oppose his political projects, his attack on the tech giants highlights a brewing convergence between leaders on the left and the right who have come to view Silicon Valley as a perverse influence on the country.
Soros predicted that a Democratic landslide in the 2018 midterm elections would push back the danger of the Trump administration. Not only the survival of open society, but the survival of our entire civilization is at stake.
Through US co-operation with China, Soros calls for the use of "carrots and sticks" toward North Korea, which could lead to a freeze-for-freeze agreement (under which the US and South Korea suspend military exercises in return for North Korea verifiably suspending the further development of nuclear weapons).
However, he predicts that the Trump administration is a "temporary phenomenon that will disappear in 2020, or even sooner".
Public criticism of Facebook Inc (NASDAQ:FB) and its effects on society continued to grow this week, with an investing legend joining the rising chorus of influential figures to rail against the social media behemoth.
The money manager, whose family office owned a small stake in both companies as of September 30, also criticized social-media organizations for exploiting the data they control and called them a "menace" to society that needs more oversight. Facebook and Google which have already faced intense scrutiny for promoting Russian propaganda in United States elections have again been hit by a scathing attack by Soros, who calls them monopolies that could be manipulated by authoritarians to destabilize democracy. He actually still hopes to see the United Kingdom remain a member of the European Union, or eventually rejoin the club.
You can read a transcript of Soros' full remarks at Davos here. This time a year ago, Soros called Trump a "would-be dictator" and predicted that he would fail. None of those happen but instead, the bull is still in charge while the Chinese economy continues to accelerate.