Economic Policy Journal - Oligarch George Soros, at a conference in Vienna, during a panel discussion said
Let’s face it: we are on the verge of an economic collapse which starts, let’s say, in Greece but could easily spread. The financial system remains extremely vulnerable…
He also said, as reported by Reuters, that a country will eventually exit the euro zone andurged policymakers to come up with a “plan B”:
The euro had no provision for correction. There was no arrangement for any country leaving the euro, which in the current circumstances is probably inevitable.
Two points. Soros is correct, a financial collapse could occur, but it need not damage anyone beyond those in the bankster system. The average man in the street could benefit if there is a collapse and it is too big for the shakedown artists, the IMF and World Bank, to handle. Unfortunately, what is likely to occur is that the European Central Bank and other central banks will crank up the money printing presses to bail out the banksters.
Point 2, the prudent thing for any country that leaves the euro would be to default on its debt and institute a hard currency (most likely backed by gold). Unfortunately, any country that leaves the euro will probably start running their printing presses 24/7.
Bottom line: Crisis will likely mean accelerating money printing and accelerating price inflation.
{ 2 comments… read them below or add one }
Money in wheelbarrows and suitcases again a la the 1920s in Germany, for example!!!
Pity Soros doesn’t lose it all, he then might realise what it’s like to have others using currencies like monopoly money but the Governments of the world could have soon stopped it if they really wanted to, instead many personally profited.
What a wonderfully corrupt & deceitful world we have created for our children & grand children.
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