May 29, 2018

Soros Attempts to Panic Investors with Talk of Collapse

Timothy Birdnow

The Palpatine of hedge funds, George Soros, is warning of a coming economic collapse. According to Zero Hedge Sores had this to say: "In a speech delivered Tuesday in Paris, billionaire investor George Soros warned that the world could be on the brink of another devastating financial crisis, as debt crises reemerge in Europe and a strengthening dollar pressures both the US's emerging- and developed-market rivals. And Europe, with Italy dragging worries about the possible dissolution of the euro back to the forefront, won't be far behind. Political pressures like the dissolution of its transatlantic alliance with the US will eventually translate into economic harm. Presently, Europe is facing three pressing problems: The refugee crisis, the austerity policy that has hindered Europe's economic development, and territorial disintegration - not only Brexit, but the threat that countries like Italy might follow suit... "Brexit is an immensely damaging process harmful to both sides,” the billionaire exclaimed. End excerpt. George Soros makes his money from collapse, and I rather think this is an attempt at a self-fulfilling prophecy. Soros is an internationalist, too, and hates Brexit and the Trump policy of "Make America Great Again". He blames us for strengthening the dollar and for pulling out of the Iran scam. What solutions does he offer? "The only way to prevent an all-out collapse, Soros explained, would be a 30 billion euro ($35.4 billion) "Marshall Plan" for Africa that Soros believes would help stem the flow of migrants into Europe, something that, Soros finally admits, is one of the biggest problems facing Europe. The EU, Soros believes, should use its "largely unused" borrowing authority to finance the plan."

End excerpt.

Huh? NOT close the borders, oh no, instead spend money on corrupt hellholes that will accomplish nothing. Soros has to know a "Marshall Plan" for developing nations has never worked, because the developing nations never develop, being rife with corruption and civil war and bad economic policy. The Marshall Plan worked in Europe because Europe had been an industrial, developed country. Ditto Japan, which showed how you develop a country -- a model ignored in the "developing world" because it devolves power from the oligarchs who want to make out from the plunder of a nation. Soros isn't stupid; he knows that the first action that must be taken by the EU is to close the borders. But he doesn't want that, because he wants redistribution of wealth and the creation of a world government. The Mad Hungarian continues:

" I personally regarded the EU as the embodiment of the idea of the open society. It was a voluntary association of equal states that banded together and sacrificed part of their sovereignty for the common good. The idea of Europe as an open society continues to inspire me. But since the financial crisis of 2008, the EU seems to have lost its way. It adopted a program of fiscal retrenchment, which led to the euro crisis and transformed the eurozone into a relationship between creditors and debtors. The creditors set the conditions that the debtors had to meet, yet could not meet. This created a relationship that was neither voluntary nor equal – the very opposite of the credo on which the EU was based."

End excerpt.

Well, gee George; what did you think would happen? That is exactly what happens to socialist countries. Europe was living off the fat of the land for a long time, letting America defend it while playing with socialism and now the chickens have come home to roost. Eventually you have to pay. And the countries that were most profligate now have to go hat-in-hand to the more prudent and somehow that is a bad thing? Had they tried to maintain reasonable fiscal policies in the beginning they wouldn't be in this pickle. That is exactly how markets work - and it is a good thing, because the debtor eventually learns. It's the school of hard knocks, and while very unpleasant it forces countries to reform. As long as people and nations are shielded from the consequences of their own actions they will continue to perpetuate bad policy and the end will be far worse. I think we call this tough love. As for the E.U. it was a dreadful idea and never should have happened. Back in 2005 I lickened the EU to Viktor Frankenstein's monster and for good reason. Here is a brief excerpt from that post: "Viktor Frankenstein becomes obsessed with overcoming death and, in what constitutes classic tragedy, destroys himself through his pride and determination. He creates an abomination from dead body parts, and breathes life into this horror via electric current. Once he has accomplished his goal, he flees in terror from the great evil he has wrought, leaving the monster free to walk the Earth. He, along with everything he cares about, is eventually destroyed by his horrible creation. I think this cautionary tale is applicable to that leviathan Creature, the European Union. The E.U. was created by a collection of ``mad scientists`` who sought to reanimate the dead corpses of the Cold War World. Much like the good Doctor digging body parts out of cemeteries and stitching them together in his basement, the E.U. was cobbled together out of nations which had lost their cultural and moral identity, but which have been sewn together into a macabre imitation of life. This was done to restore and revitalize the fortunes of the dismembered corpse of Germany, as well as the pathetic, arrogant remains of the once-mighty France. Holland, Belgium, etc. were also stitched on to the bloated cadaver, an animating force was applied (unified currency and a new Constitution) and the sinful abomination rose from the French operating table. Now, much like Doctor Frankenstein, the creators of this monster look with trembling upon what their hubris has wrought, and now the Dutch may want to flee from the face of the monster." End excerpt. And indeed the EU is exactly that, a hideous creation of dead parts sewn together by a generation whose mind was twisted and deformed by the Second World War and subsequent Cold War. A patchwork of once unique nations, it no longer has any identity as the old nations are basically subsumed into a bureacratic nightmare with no discernible culture of worth. It is stifling. The European constitution is 400 pages long - 76000 words - compared to the U.S. which barely covers a single page. It codifies everything in a manner reminiscent of the Byzantine Empire. It stifles freedom of speech, of the press, of assemnly. It regulates whatever it does not compel. And the member nations must go along with the most ridiculous concepts, like allowing millions of Islamic "refugees" to resettle in their own countries. If there is to ever be a chance for a hope for the countries that made the mistake of joining the EU it is for a Brexit-type leaving. Actually, skip Brexit; just get out and deal with the trade and travel issues later. The Brits screwed up invoking the EU exit clause and thus having to wheel and deal on the matter. Soros knows all this and slyly keeps it quiet. He'll make a huge amount of money on a collapse, and if not he will have what he wants if he can get the Europeans to adopt his schemes. I am certain his "Marshall Plan for Africa" will make him a lot of money too. Maybe he can ask the Clinton Foundation to manage the money... The best thing that can happen to this world is for Soros to meet his Maker. I doubt he'll enjoy the meeting much, though.

Posted by: Timothy Birdnow at 10:20 AM | No Comments | Add Comment
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