George Soros, the billionaire investor and philanthropist, has had a busy year. Since the beginning of 2017, he has faked a chemical attack in Syria, funded anti-Trump marches in Washington, come up with the "Soros plan" to flood Hungary with refugees, forced a change of government in Macedonia, undermined the Israeli prime minister and got several key White House aides sacked. Not bad for a man of 87.

All of the above are, of course, conspiracy theories. But the fact that they have surfaced this year - and all feature the name of Mr Soros - is not just a curiosity. It says something important and worrying about global politics.

In the 1990s, Mr Soros was in tune with the spirit of the age, as he used the billions he had made in finance to support the transition to democracy in post-communist Europe and elsewhere. But now the global political climate has changed and liberal ideas are in retreat. For a new generation of nationalists - from the US to Russia and Hungary - Mr Soros has become the perfect villain. He is an internationalist in an age of nationalism. He is a supporter of individual rights, not group rights. He is the 29th-richest man in the world, according to the Forbes rich list. And he is also Jewish, so is easily cast in the role of the shadowy and manipulative international financier, once reserved for the Rothschilds.

For a new generation of nationalists - from the US to Russia and Hungary - Mr Soros has become the perfect villain. Olivier Hoslet

One of the nastier bits of anti-Soros propaganda this year explicitly linked him to the old slurs against the Rothschilds. When America First nationalists became worried that HR McMaster, national security adviser to President Donald Trump, was purging their allies in the White House, they set up a website called "McMaster leaks" which featured a cartoon of Mr McMaster being manipulated by puppet-masters labelled "Soros" and "Rothschilds".

In 1989, one of the beneficiaries of a Soros scholarship to study at Oxford was a young Hungarian activist named Viktor Orban. Today, the same Mr Orban is prime minister of Hungary and demonises his one-time benefactor. The Hungarian leader has made denunciation of an alleged "Soros plan" to flood Hungary with Muslims central to his re-election campaign. There is no such plan. What is true is that Mr Soros is a generous backer of refugee charities and has also supported the EU's plan to resettle Syrian refugees across the bloc, including in Hungary. That was excuse enough for Mr Orban to plaster the country with posters featuring a grinning Mr Soros, and urging: "Don't let Soros have the last laugh."