George Soros calls Trump ‘transitory phenomenon’ but says he ‘remains very dangerous’

The billionaire investor says Trump will fight to stay in power and try to 'undermine democracy from within'

Billionaire investor and philanthropist to liberal causes called President Trump a “transitory phenomenon” in American politics but said that he “remains very dangerous” and will do everything he can to remain in power.

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“Even in the United States, a confidence trickster like Trump can be elected president and undermine democracy from within,” Soros told Italy’s La Repubblica in an interview on his 90th birthday. “But in the U.S. you have a great tradition of checks and balances and established rules. And above all you have the Constitution. So I am confident that Trump will turn out to be a transitory phenomenon, hopefully ending in November.”

Still, Soros said Trump “remains very dangerous” because “he’s fighting for his life and he will do anything to stay in power.” He added that Trump is fighting to remain in power because he will be prosecuted for his Constitutional violations if he loses the presidency.

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Still admiring the American democratic system and the Constitution, Soros said, "The United States is one of the longest-lasting democracies in history.”

Soros added that the coronavirus pandemic has led to a “revolutionary moment.”

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“I would describe it as a revolutionary moment when the range of possibilities is much greater than in normal times,” he said. “What is inconceivable in normal times becomes not only possible but actually happens. People are disoriented and scared. They do things that are bad for them and for the world.”

Soros also opened up about his approach to financial markets. He said he has “two simple propositions” that have given him an advantage. Soros made his first billion by shorting the British pound decades ago.

“One is that in situations that have thinking participants the participants’ view of the world is always incomplete and distorted. That is fallibility,” said the Hungarian-born billionaire.  “The other is that these distorted views can influence the situation to which they relate and distorted views lead to inappropriate actions. That is reflexivity.”

He added that the market, which he no longer participates in, is holding on to the expectation that more stimulus money is forthcoming and Trump will announce a COVID-19 vaccine before November.

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Soros has a net worth of $8.2 billion, according to Forbes. He’s donated more than $32 billion of his personal fortune to his charity network Open Society Foundations, which works to elect Democrats, among other priorities.