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GEORGE SOROS - STATEMENT - END OF EURO/ZONE

 
Anonymous Coward
User ID: 1297880
United Kingdom
04/17/2012 11:17 AM
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GEORGE SOROS - STATEMENT - END OF EURO/ZONE
I just got sent this report, I think this is it folks, the end of the global monetary system as we know it

From the Article

The bears are out again, painting images of doomsday and Armageddon for the global economy.

In a presentation early in April, Joseph Stiglitz, an award-winning economist, says the trend of running deficits in countries such as the United is unsustainable.



"U.S. has become, to a large extent, "deficit of last resort"," said Stilgitz in a presentation. "As other countries take actions to reduce trade deficit, if surplus countries maintain policies to sustain surplus, then the US deficit essentially equals the sum of the surpluses. But this situation is not sustainable."

In essence, the global trade system is going to collapse as deficit-running countries aim to reverse the trend at the expense of surplus-running states such as Germany, Saudi Arabia, and Japan.

The solution, to Mr. Stiligitz's mind, is if the system moved from the dollar as a reserve currency and focus on a global reserve system, apart from a global regulatory system and greater co-ordination of global monetary policy.

EURO CRISIS: GREATER THAN WE THOUGHT
George Soros, the billionaire hedge fund investor, who has profited from making contrarian bets, says the euro crisis is far worse than we had earlier estimated. In fact, the euro crisis could destroy the European Union.


[link to www.zawya.com]
Anonymous Coward
User ID: 14578529
United States
04/17/2012 11:45 AM
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Re: GEORGE SOROS - STATEMENT - END OF EURO/ZONE
Soros is not all that smart

he places long shot bets
then he manipulates others
to make his long shot bets
pay off.

it is illegal

he learned this from the Nazis

Soros should be in prison

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