George Soros Loses Confidence in Euro Authorities, Warns of Looming Financial Meltdown
- Posted on September 26, 2011 at 10:45am by
Becket Adams
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Last week, George Soros had faith in the ability of Euro authorities to deal with the financial crisis. But after a Saturday interview with CNN, it would appear that he now agrees with Scottish fund manager Hugh Hendry, who said that politicians have all but lost the ability to resolve the European financial crisis.
He explained on CNBC last Wednesday that the situation in Europe is far “more dangerous” than the Lehman debacle of 2008.
He told the CNBC interviewer that the best way for Europe to avoid a total financial meltdown would be for them to allow 2 or 3 of the smaller countries to default and then exit the Euro in an orderly fashion. If it were disorderly and unprepared, it could disrupt the global financial system, says Business Insider.
He confidently held that European authorities would do whatever it takes to keep the system together. “Because the alternative is just too terrible to contemplate,” Soros said.
Watch CNBC Interview:
However, later that week on CNN, Soros said that the euro zone’s failing to resolve the sovereign debt crisis in Europe would lead to a “real meltdown” of the global financial system, reports Business Insider.
The interview signaled his loss of confidence in the authorities to effectively deal with the situation.
“This time it can‘t be stopped because you don’t have the authorities to stop it,” Soros said in reference to the Lehman disaster.
He later went on to say Euro leaders must convince voters to help the troubled euro area nations overcome their money problems, because “the alternative is a breakdown of the global financial system, a real meltdown.”
“They have to create this EFSF [The European Financial Stability Facility],” said Soros, “whatever that stands for, it’s a potential for European Treasuries, but it’s not yet in existence yet. So they want to bring it in.”
The implications for the U.S. are not good. “We are in a [double dip] already” he said on CNBC last week.
Soros also went on to say that if the U.S. does not create more jobs soon, Americans will suffer even more of a slowdown and a double dip.
The implications for Greece: “By December, if Greece hasn’t delivered by that time, they won’t get the next tranche,” predicts Soros.
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Comments (109)
thegodfather
Posted on September 26, 2011 at 2:01pmWho can believe it? Nations built on socialism, 8 weeks of vacation, jobs that you can’t be fired from, free healthcare, free school, retire at age 55…without sufficient funds to support it…and NOW you‘re telling me it isn’t working?
Wow!..Who could have possibly seen this coming?
Report Post »Polwatcher
Posted on September 26, 2011 at 2:00pmI am fed up with politicians who only think of themselves and their best interests over the peoples’ best interest. These politicians are all over the world and they are the same breed. They are driven by an adolescent media and make little sense outside of their immediate political gain. The Dems and socialist politicians are the worst of the lot and need to get fired first.
Report Post »turkey13
Posted on September 26, 2011 at 3:53pmThe best thing in the world of politics is term limits like here in Oklahoma. We will hate to see Tom Cobrn go. When you go to term limits you can’t pick and choose.
Report Post »undercover
Posted on September 26, 2011 at 1:57pmThat link is looney tunes – Th, Th, Th, That’s al folks!
Report Post »shazam3
Posted on September 26, 2011 at 1:53pmSoros’ son will take over his empire, he may be even more corrupt than George.
Report Post »SilentReader
Posted on September 26, 2011 at 1:50pmOpen-borders global manipulator and nation destroyer George Soros is an evil man. If you can call him a man. A scoundrel is more like it. There’s many people in Europe and beyond who would love to see him behind bars for good, among other things. He‘s ruined many people’s lives and he’s still messing around in the Balkans and trying to buy up a TV network in Serbia and wanting to take over the natural resourses in Kosovo. My guess is he has dealings in what is going on in Kosovo with the Albanian Muslim-seized government in Pristina wanting to take over the Northern borders and close them down to Serbia despite the UNSC Resolution 1244 which said Kosovo will always be part of Serbia. Hey, but I’m sure that Soros will get something written up to remedy that, won’t he? Just like he financed the Responsibility to Protect Doctrine to go into Libya. When has the law ever stopped George Soros? He’ll make a new one.
Having said that, though, he may be right in this case. And if you think he’s changed. Think again. Because someone as evil as George Soros never changes. I think he’s finally seeing that he might have some skin in this game of manipulating and collapsing the global financial system. He’s finally seeing he may lose some of his billions as well.
So this time it might be wise to listen to this guy. And start taking some of his advice. Or at least look into it. Crooks only tell you the truth when they see they’re going to be part of the meltdow
Report Post »pookieamos
Posted on September 26, 2011 at 3:31pmHe is only pretending to be an innocent and caring bystander .He is well respected in America , he can’t hardly look like he is the puppetmaster waiting to cash in on our collapse. Make no mistake , his stripes hav’nt changed , nor will they !
Report Post »samsmama
Posted on September 26, 2011 at 1:50pmRead Brad Thor’s book the Black Opps.
George Soros can’t wait for us to fail. He is doing everything in his power to bring us down
Report Post »SilentReader
Posted on September 26, 2011 at 1:57pmBrad Thor’s book Full Black is next on my list. After I read the one I’m reading now The Bridge on the Drina by Ivo Andric.
Report Post »dyaeger92
Posted on September 26, 2011 at 6:20pmIt seems to me that this an attempt on the part of Soros to manipulate the situation by instilling fear. He is all about the New World Order and it can not get off the ground until Europe and the United States collapse economically. He also can not make billions on the market until they collapse . That is how he has made his money over the years, betting on the collapse of national economies.
Report Post »The_Almighty_Creestof
Posted on September 26, 2011 at 1:48pmAll of this is making the world ripe for another Hitler…but one a 100 times worse. As the chaos hits its peak, some charismatic evildoer will come to the forefront with a viable enemy to blame all the problems on…and in their misery, the masses will fall for this leader who provides them a target to take their wrath out on.
Be prepared to defend yourselves!..
Report Post »Jumper
Posted on September 26, 2011 at 2:06pmIsn’t that petty much the Anti-Christ?
Report Post »Faith1029
Posted on September 26, 2011 at 3:24pmExactly. They are preparing the way for his arrival.
Report Post »pookieamos
Posted on September 26, 2011 at 3:32pmDon’t you mean Obama ?
Report Post »Faith1029
Posted on September 26, 2011 at 4:11pmIt’s possible.
Report Post »MartyTr
Posted on September 26, 2011 at 1:43pmWaking up to it now Soros? Guess you aren’t as smart as you thought. You’ll have some horrible company in hell with the rest of the evil totalitarian mass murderers.
Report Post »Jim in Houston
Posted on September 26, 2011 at 1:41pmHey, Spooky Dude, why don’t you crawl back under the rock you crawled out from under? This turd is the most useless waste of skin and oxygen ever!
Report Post »JMorcan
Posted on September 26, 2011 at 1:35pmThis can no longer be fixed by political means. The game is over. We have given away our freedoms, rights and wealth to Asia.
Report Post »BRidd
Posted on September 26, 2011 at 1:35pmI really enjoyed the ending in the book “Full Black” by Brad Thor…
Report Post »santramir
Posted on September 26, 2011 at 1:30pmxx and xxi century americans will always be remembered as the authors of the Federal Reserve, Wall Street and Holliwood global social catasthophe.
Report Post »geonj
Posted on September 26, 2011 at 1:28pmone common currency for the whole of europe is a perfect example of why one world governance is no good. instead of the euro failing, if each country still had their own currency, then financial insolvency would be more compatmentalized. same reason we need more state governance and a small federal bureaucracy.
Report Post »GERATMO
Posted on September 26, 2011 at 1:25pmIm glad I just stocked up on another $500 in food storage yesterday. I wonder how much money spooky dude is going to make off Europes collapse. Or the United States for that matter.
Report Post »texas sweet tea
Posted on September 26, 2011 at 11:31pmGeratmo, I have been stocking up for the past year with extra food supplies, water, medical, etc. Do you have any tips to share? Thanks!
Report Post »sissykatz
Posted on September 26, 2011 at 1:23pmScary, Evil, Confusing the coming Doom………
Report Post »packsack54
Posted on September 26, 2011 at 1:23pmAre we already in a double dip reccesion or a beginning depression?
Report Post »Thevoice
Posted on September 26, 2011 at 1:18pmSo In his mind or view it’s a debate of whether or not the “rich” are going to be taxed to create jobs….More “New age progressive communisum”
Report Post »OneBuckeye
Posted on September 26, 2011 at 1:15pmGood old George is near the end. Like the rest of us, he won’t escape the Grim Reaper! In that last glimmer of light he sees will be his stacks of money that won’t be going with him!
Report Post »packsack54
Posted on September 26, 2011 at 1:14pmLike in the movie We Were Soldiers, like the sargent said prepare to defend yourself, there no non-combits today.
Report Post »ScreaminEagle
Posted on September 26, 2011 at 1:09pmI would say whatever Soros says, do the opposite. Then again he may be planning on us thinking the that way. Oh what a tangled web we weave… .
Report Post »samsmama
Posted on September 27, 2011 at 9:43amThis man is the personification of evil. If he gave up his religion and is not a citizen of any country (I don’t think) then we should all wise up and take a good look at this guy and his relationship with POTUS. I‘ve read he’s had many visits there.
Report Post »hauschild
Posted on September 26, 2011 at 1:02pmWow – this dude has no shame whatsoever. He’s one, evil SOB.
Report Post »wampanoag
Posted on September 26, 2011 at 1:00pmDont worry Soros can work for the Nazis again. He will shovel the crematoria, and steal his neighbor’s money.
Report Post »OneBuckeye
Posted on September 26, 2011 at 12:57pmGot a little tear in your eye George? Yea right, how much money will you make when another of your engineered colapses happens?
Report Post »thegreatcarnac
Posted on September 26, 2011 at 12:56pmSoros and his ilk are part of the problem. They act as if they are appalled by te shape of the world’s finance but they had a large hand in their destruction. We all know that the worse things get the more powerful trash like Soros becomes. He cries crocodile tears. He and other manipulators should be in prison and perhaps things would settle down. Remember…we have Soros to blame for the idiotic president, obama.
Report Post »PurrrpleMtnMajesty
Posted on September 26, 2011 at 12:50pmAnd I’ll bet this totally breaks him up…isn’t this all part of the PLAN?
Report Post »db321
Posted on September 26, 2011 at 1:00pmIf it’s good for Soros – you can bet it bad for America.
Report Post »AnOregonian
Posted on September 26, 2011 at 1:04pmIt is and has been the plan for some while……. Prepare yourselves to be a instrument of goodness and morality when everything we know resets.
Report Post »AnOregonian
Posted on September 26, 2011 at 1:06pmIt is and has been the “plan”. Prepare yourselves to be pillars of goodness and morality as we pick up the pieces after everything we have come to know resets.
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