Posted on 10/16/2012 2:57:48 PM PDT by bruinbirdman
George Soros has put the matter nicely at the National Association for Business Economics in New York.
If the world could somehow persuade Germany to pull out of EMU, Europe’s never-ending crisis "would disappear in thin air".
The residual euro would fall to a level that better reflected economic fundamentals in Southern Europe. Competitiveness would largely be restored at a stroke, without the need for debt-deflation. There would be no further risk of large sovereign defaults.
Mr Soros said — as he has many times before — that the current course is pushing euroland into a "lasting depression, and it is entirely self-created".
Indeed. "Entirely self-created". Repeat that a hundred times. There is nothing seriously wrong with Europe's underlying economy. It has magnificent companies, great creative skills, a global current account surplus and relatively low debt. (That is not a misprint. Europe does not have a debt crisis. It has a political crisis. It is so badly structured and so badly run that moderate debt has been allowed to mushroom into a crisis).
Mr Soros says there is now a "real danger" that the euro will destroy the European Union. One way to escape this is for Germany to "play the role of the benevolent hegemon", and accept debt-pooling.
If it is not prepared to undertake the leadership role that America played after the Second World War with the Marshall Plan, it should "step out" of EMU and let the others recover.
This may ultimately happen once German citizens realise what is being done to them by their elites, but the crisis could drag on for a very long time before that happens.
The alternative is slow crucifixion of Southern Europe — with depression in Greece, Portugal, Spain, and perhaps Italy continuing into 2013 and then again
(Excerpt) Read more at blogs.telegraph.co.uk ...
Please save us Mr. Goldfinger you’re our only hope!!!
Soros is such a snake.
George Soros is a guy who you should never take advice from. His real intent...is not what he openly says, and that is nicest thing you can say of the guy.
He tried to loot Russia after the collapse of the Soviet Union, and is a fugitive from justice in the Russian Federation.
Soros also convicted on criminal charges in France in 2002 for insider trading in bank shares, a conviction upheld by the european court of human rights. Soros also blamed for undermining the Malaysian currency and attempting to destroy the British pound and US dollar. Soros also contribues huge sums to a spiders’ web of antiAmerican, anti-Christian, anti-Jewish groups and campaigns. Worst of all, he’s raised kids, at least one of which appears hellbent to continue his old man’s destructive ways after daddy finally goes to hell. Or something like that, check the websites that document this evil man’s many secret dealings and you’ll be amazed at just how many destructive or subversive or just plain immoral causes and organizations, and candidates, this guy funds or pays for.
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