Business

Him Again: Soros Calls For the Recapitalization of Euro Banks

Him Again: Soros Calls For the Recapitalization of Euro BanksPolicymakers have done a poor job. The economic crisis and financial markets in Europe are “forcing the world into a depression” and the situation does not seem to be getting any better.

So what is to be done?

According to George Soros, Europe needs to create a common Treasury, recapitalize its banks and protect “vulnerable states.”

Soros, chairman of Soros Fund Management who made millions during Black Wednesday when he “broke the bank of England,“ said the most important thing was to ”erect safeguards against contagion from a possible Greek default,” according to a recent Huffington Post report.

“Since a euro zone treaty establishing a common Treasury would take a long time to conclude, in the interim the member states have to appeal to the ECB (European Central Bank) to fill the vacuum,” he wrote in an article for the Financial Times newspaper.

“Both the banks and bonds of countries such as Italy and Spain need to be protected . . . To relieve the pressure on the government bonds of countries such as Italy, the ECB would lower its discount rate,” he said.

Soros claims that the ECB could encourage countries to finance themselves with Treasury bills bought by banks. Those banks could then re-discount the bills with the central bank, allowing countries to refinance for about one percent a year during the “emergency period.”

“Neither the ECB nor the EFSF (European financial stabilization facility) would buy any more bonds in the market,” he said.

He said the EFSF should be used to guarantee and recapitalize banks who would then have to maintain credit flows under guidance and monitoring from the ECB.

“These measures would allow Greece to default without causing a global meltdown,” Soros said. “That does mean that Greece would be forced in default . . . How Greece fared would be up to the Greeks.”

“However, he said only public demand for his plan would make it happen, given likely resistance from banks and national governments,” reports Matt Falloon of Reuters.

Comments (104)

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  • Thevoice
    Posted on October 1, 2011 at 12:32am

    I heard the Soros fund is broke.. That it got caught upside down on oil….

    Report Post » Thevoice  
    • mad_hatter
      Posted on October 1, 2011 at 2:08am

      He knows the economy is still shot. Actually he has been heard saying that this economy is worse than Bush’s recession: http://www.americanparchment.com/video/2011/sep/soros_worse_bush.html

      Basically he is undercutting Obama to make excuses for his short comings but his fund is still growing. He can read the tea leaves and he sees a double dip recession on the way.

      Report Post »  
    • mad_hatter
      Posted on October 1, 2011 at 2:10am

      Remember it was George Soros that gave advise to Obama that he should work with China to bring them into the “new er… world order… financially that is”: http://www.americanparchment.com/video/2011/sep/soros_obama_world_order.html

      This is even scarier to know that he has influence in the White House.

      Report Post »  
    • TH30PH1LUS
      Posted on October 1, 2011 at 2:57am

      They will likely take his advice and double-down on the centralization of their economies. ANYTHING to avoid financial pain – even if that costs them their sovereignty.

      That’s the catch, isn’t it. These nations are locking arms even as they jump off the cliff. Long ago they exchanged the greatness and glory of their noble ancestors for “economic security”.

      They exchanged nationalism for multiculturalism, unchecked immigration, and socialism. Now ALL of Europe is rapidly dying.

      I believe SOROS is paving the way for one world government & the reign of the Anti-Christ. Such a calamity will threaten civilization, that the masses will DEMAND “the man of sin” take power. The options will be: (a) total chaos, or (b) a “benevolent” dictator.

      Not trying to be a Debbie Downer, just saying it as I see it.

      Report Post » TH30PH1LUS  
    • chazman
      Posted on October 1, 2011 at 5:36am

      … might be good advice to do just the opposite of what this creep says, or just put a bullet in it …

      Report Post »  
    • BehindBlueEyes
      Posted on October 1, 2011 at 10:23am

      Soros made 7 billion last year. He is now worth around 20 billion.
      He’s far from broke.

      Report Post » BehindBlueEyes  
    • Morris
      Posted on October 1, 2011 at 4:45pm

      Would love to see this old bastard go broke,But he has so much cash!
      Who the hell is Soros anyway, This old Bastard has a bedroom at the Whitehouse,What gives
      this person the wright to be sleeping with Dictator Barack Hussein Obama our Muslim-in-Chief??
      Soros is also a Anti-American person just like Dictator Obama,These guys are working with
      Saudi Arabia and the Muslim Brotherhood,These guys want to destroy our America,
      Soros, Obama, The Muslim Brotherhood and Saudi Arabia are working hand and hand to turn our
      America into part of their “MUSLIM TOTAL WORLD DOMINATION”, The New “GLOBAL NEW WORLD ORDER of Dictator Barack Hussein Obama and the Muslim Brotherhood are here and
      Dictator Obama is bringing more Muslims every day by the Plane load,His last “EXECUTIVE ORDER”
      was to bring into our America 60,000 to 80,000 Muslims from Somalia, Every Muslim that Obama
      brings into our America is a Islamic Muslim that lives by the Koran and Sharia-Law!
      America the Muslims are not here in America for the good of our America, They are here to try to CONVERT YOU TO ISLAM, AND IF THEY CAN,T CONVERT YOU THEY WILL WANT TO KILL
      YOU, THIS IS THERE SHARIA-LAW,That what Dictator Obama wants for our America!
      American, IMPEACH THIS MUSLIM DICTATOR BARACK HUSSEIN OBAMA NOW,SAVE OUR
      REPUBLIC OUR AMERICA, IMPEACH THIS DICTATOR OBAMA!
      Dictator Obama has opened up the flood gates from HELL (THE MUSLIM) to come into our Countery,
      STOP HIM NOW!
      GOD BLESS AMERICA.

      Report Post »  
    • Eliasim
      Posted on October 1, 2011 at 11:18pm

      So basically, Soros is going to have the Central banks in Europe do what the Federal Reserve is doing in the U.S, and that is monetizing it’s debt. More or less, moving it from the right pocket to the left pocket, but through a regulatory branch en-route. Which would be the recapitalization the Federal Reserve is doing, and is based on the pure flat-out future slavery of the people.

      Report Post »  
    • lionslayer44
      Posted on October 2, 2011 at 11:29pm

      @MAD_HATTER, the house of li is already part of the 12 families of the illuminati thus part of the new world order. BE PREPARED COLLECT FOOD, WATER (FILTERS), AMMO!!!!! GOD BLESS AMERICA!!!

      Report Post » lionslayer44  
  • Race
    Posted on October 1, 2011 at 12:32am

    Ask who profits in the short term from the recapitalization, and who gets screwed at the end when the scam falls apart.

    Report Post » Race  
    • NHwinter
      Posted on October 1, 2011 at 10:32am

      Who would ever take advice from Soros besides Obama? Who asked for his advice?

      Report Post » NHwinter  
    • knockered
      Posted on October 1, 2011 at 11:25am

      Isn’t it time this scuumbag just rolled over and layed himself to rest? Hasn’t he done enough to destroy the economies of enough countries to be satified. Beck has been warning about this thug for a long time and most of what he said is coming true. Watch the other hand of soros, he is working hard to destroy the U.S. and he helped put the thief in charge in office to be his puppet. I don’t even oblammer knows how he is being used by this animal who wants to rule the world. Be prepared and keepem loaded.

      Report Post »  
    • Maji
      Posted on October 2, 2011 at 12:34am

      I heard he found an extra “ 7 billion” this year!
      Let him get started with that!!

      Report Post »  
  • nosycophant
    Posted on October 1, 2011 at 12:24am

    Cant he die already?

    Report Post »  
  • endgamer
    Posted on October 1, 2011 at 12:10am

    The drone got the wrong guy..

    Report Post » endgamer  
  • Gypsy123
    Posted on October 1, 2011 at 12:03am

    I smell a rat and its name is Soros.

    Report Post » Gypsy123  
  • db321
    Posted on September 30, 2011 at 11:40pm

    He moving as fast as he can on his mission of destruction of America – just so he can see how much money he can make before he dies.

    He will pass on soon – God willing, America will survive and we will undo all that he has done. God Bless America and Israel.

    Report Post » db321  
  • CulperGang
    Posted on September 30, 2011 at 11:37pm

    Soros the unelected czar??? he should die a slow death. Too bad Mossad has wiped him out for selling out Jews to the gas chamber. HINT!!!!!

    Report Post » CulperGang  
  • chicago76
    Posted on September 30, 2011 at 11:27pm

    So whose money is he betting on now.

    Report Post »  
  • CFL
    Posted on September 30, 2011 at 11:14pm

    Gee, let me guess: Soros has shorted the European banks and is on the other side of these trades.

    Report Post »  
  • abbygirl1994
    Posted on September 30, 2011 at 10:39pm

    Why isn’t this guy in a prison somewhere.. he has collapsed more than one country.. why is he walking free… please tell me.. the only thing I can think is money talks and **** walks!!

    Report Post » abbygirl1994  
    • its_time_to_arrest_our_government
      Posted on September 30, 2011 at 10:54pm

      yeah soros lets use your money to fund those banks. your not gonna need it where your going anyway. moneys no good in hell……or prison….i got a feeling you’ll be seeing both real soon. and if i was you id be hoping that the country i was going to go to prison in was a rich country. because no matter what happens mr soros your going down. you can bank on that!

      Report Post »  
    • *********
      Posted on September 30, 2011 at 11:01pm

      …or dead?

      Report Post »  
    • Hobbs57
      Posted on September 30, 2011 at 11:09pm

      Public Demand … Not like the Tea party or anything.. No, a well funded or bunch of educated rich kids refusing to grow up is who he is referring to as the public who needs to demand it. It‘s hard to demand work when you don’t want to actually work, ever. That is their whole problem to begin with. It never seems to dawn upon them. I call it fantasy thinking …

      Report Post » Hobbs57  
    • Thatsitivehadenough
      Posted on September 30, 2011 at 11:09pm

      Call me crazy, but sometimes I think if the world financial system completely collapses it might be worth it if it takes Soros down with it. This man is as evil as Adolf Hitler was. During the Holocaust he learned how to profit off the suffering of others and he’s never changed his style.

      Report Post » Thatsitivehadenough  
    • Detroit paperboy
      Posted on September 30, 2011 at 11:18pm

      The meaning of recapitalisation is::::: America borrows trillions from China,
      puts it on our grandkids credit card and gives it to smelly , lazy Europeans !!!
      WELCOME TO DETROIT

      Report Post »  
  • PissOnLiberals
    Posted on September 30, 2011 at 10:38pm

    Sounds like 1 big step forward for his World Government.

    Report Post »  
  • varnell99
    Posted on September 30, 2011 at 10:33pm

    If Soros, with all his money, wants the euro-bank to have more money the let him and him alone give it to them. The US needs to stop sending money to Europe, Pakistan, Egypt, Libya, Turkey, building mosque in the Middle East and Europe because the first chance they get most of the countries listed will do their best to destroy us.

    Report Post »  
  • EqualJustice
    Posted on September 30, 2011 at 9:57pm

    Too bad he can’t BUY himself MORE TIME on this earth! hahaha Almost check out time Georgie! :)THANK GOD!

    Report Post » EqualJustice  
  • Stehekin912
    Posted on September 30, 2011 at 9:50pm

    This is all I have to say on this creature:

    The Picture of Dorian Grey

    Report Post »  
  • Salamander
    Posted on September 30, 2011 at 9:43pm

    At his age, he‘ll probably ’check-out’ just about the time the Caliphate is reestablished, leading to global religious wars! Thanks, George!

    Report Post »  
  • joe1234
    Posted on September 30, 2011 at 9:34pm

    its useless to resist the darkside…

    SOROS IS YOUR NEW MASTER NOW….

    Report Post » joe1234  
  • Harold B
    Posted on September 30, 2011 at 9:20pm

    There is not enough money in the world to make socialism work, never has been and there never will be.
    If the US makes more loans demand collateral

    Report Post »  
    • Snowleopard {gallery of cat folks}
      Posted on September 30, 2011 at 9:26pm

      When it comes down to old Soros two things are guaranteed:

      a. He wants to bring down the economies of the European Union and the United States.
      b. He will manage to make a massive profit off of it.

      Report Post » Snowleopard {gallery of cat folks}  
    • So
      Posted on September 30, 2011 at 9:34pm

      Soros has made some wagers and is pushing for them to cash out again.

      Report Post »  
  • SavingtheRepublic.com
    Posted on September 30, 2011 at 9:19pm

    ~^~v~~^~~v~^~
    Al Awlaki was engaged in activities to subvert, undermine and destroy the US through violent physical activity and is taken out. Some would argue since he is a US citizen he could have been tried, found guilty imprisoned and/or executed(MAYBE) under treason(article 3 Section 3 of Constitution). There are many bleeding hearts on both sides of the aisle saying this could have been the better direction to go vs killing him.
    Now we have George Soros who IMO is engaged in activities to subvert, undermine and destroy the US through financial, political and social influence. Huh what a coincidence but NO ONE is hunting him? Why is that? Why is it a man who is labeled a terrorist who is behind attempted attacks etc against the US is hunted down yet a man, Soros, who engages in financial, political and social attacks against the US is praised and left alone?!

    There is really no difference btwn the two. One uses(d) weapons the other uses his power of influence and money, both though have the same agenda… destroy the USA. Anyone have any idea why Congress hasnt gone after him yet? I know what you are thinking but OH YES THEY CAN go after him! The Constitution gives them the powers under Article 3 Section3! Thats where they got the power to go after people for sedition and espionage! Its at their discretion and their interpretation! (Founders were so smart, they thought ahead!)
    Said it before Ill say it again Soros is an Enemy of the State http://tinyurl.com/2fmw

    Report Post » SavingtheRepublic.com  
    • Salamander
      Posted on September 30, 2011 at 9:28pm

      I wonder how many members of Congress owe their elections to Geo. Soros?

      Report Post »  
    • cassandra
      Posted on September 30, 2011 at 9:29pm

      Well said

      Report Post »  
    • JACKTHETOAD
      Posted on October 1, 2011 at 6:40am

      The Constitiuion and its laws are nothing if they’re not enforced. How can they be enforced by a Potus and legislature who think it’s standing in their way, not to mention how many legislstors who are owned by Soros already? It’s also a waste of time to wish him dead, as I’m sure he has left orders to carry on with his plans.

      Report Post » JACKTHETOAD  
    • sovahco
      Posted on October 1, 2011 at 10:40pm

      As long as democrats control the US Senate, George Soros will be praised and applauded. He is their beloved benefactor.

      Report Post »  
  • Psychosis
    Posted on September 30, 2011 at 9:12pm

    the best thing the EU could do right now is dissolve the EU and return to single state counties

    let the countries that make poor economical choices sink or swim

    soros plan would tie all the economies together which would cause them to collapse together, and more to the point REQUIRE A CENTRAL GOVERNMENT CONTROL MECHANISM that he so desperately is trying to put together world wide

    i see a UN take over of the EU banking system ( or at least suggested) in the very near future

    Report Post » Psychosis  
  • Ookspay
    Posted on September 30, 2011 at 9:11pm

    Not one penny of American taxpayer dollar should be sent to bail out that failed social experiment known as the Eurozone! Too big to fail? Contagion? Bullcrap, let it fail!

    Report Post » Ookspay  
    • jhaydeng
      Posted on September 30, 2011 at 9:26pm

      This is exactly how he collapses the currency. He talks it up to people and investors and at the same time he “shorts” the currency betting against it. So, when it collapses he makes his money on the way down! Absolute genius! How many countries will listen to this guy before they stop taking his advice?

      Report Post »  
  • lukerw
    Posted on September 30, 2011 at 9:09pm

    I nominate… Soros… to replace Al-Awalaki… on the List!

    Report Post » lukerw  
  • MrMagoo
    Posted on September 30, 2011 at 8:59pm

    I think there should be a jail cell somewhere.Or a coffin.Either one for Georgie.His corruption or his age will catch up with him.

    Report Post » MrMagoo  
  • randy
    Posted on September 30, 2011 at 8:53pm

    Every morning I wake up hoping to hear this SOB died in his sleep

    Report Post » randy  
  • The-Monk
    Posted on September 30, 2011 at 8:52pm

    Whatever Soros says is only about his agenda and making money for himself.

    Report Post » The-Monk  
  • GUT_CHECK
    Posted on September 30, 2011 at 8:48pm

    sure, we can trust HIM

    Report Post »  
    • The10thAmendment
      Posted on September 30, 2011 at 8:54pm

      I’d trust a rabid pack of Pit Bulls, or Great White Sharks in a feeding frenzy before I’d ever trust that murdering cesspool and death in the flesh.

      Report Post » The10thAmendment  
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