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    George Soros predicts class war and riots

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    George Soros, the billionaire investor, has predicted riots on the streets and global class war as the economic downturn results in a new "age of fallibility".

    In an interview ahead of a speech at the World Economic Forum in Davos, the 81-year-old said that for the first time in his career he was baffled by the current state of the market, and saw no way to avoid a violent crisis which at its worst could result in the total collapse of the financial system.

    Known as the "man who broke the Bank of England" after betting against the pound on Black Wednesday in 1992, Mr Soros plans to use his Davos address to issue a stern warning that he now considers it "more likely than not" that Greece will default in 2012. And unless Europe (Chicago Options: ^REURUSD - news) 's leaders do more to stop it, the euro is likely to collapse with a devastating impact on the rest of the world, he will add.

    The financier compared the crisis to the collapse of the Soviet empire and the Great Depression, adding that the old belief in the power of the market to prevent turmoil could no longer be relied upon.

    He told Newsweek: "The euro must survive because the alternative a break-up would cause a meltdown that Europe, the world, can't afford. I'm not here to cheer you up. The situation is about as serious and difficult as I've known in my career. We are facing now a general retrenchment in the developed world.

    "The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system. We need to move from the Age of Reason to the Age of Fallibility in order to have a proper understanding of the problems."

    Warning that violence on the streets was inevitable unless the problems of unemployment and debt were addressed, he warned this could lead to the erosion of civil liberties and installation of a police state.

    Asked about the likelihood of riots in the US, he said: "Yes, yes, yes. It will be an excuse for cracking down and using strong arm tactics to maintain law and order which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained."

     

    5 comments

    • Hephaestus  •  Ilford, England  •  3 months ago
      Dear old George, he has an unsettling habit of predicting the truth; maybe, just maybe, our obscenely greedy "masters of the universe" and those who have awarded themselves massive rewards for winding their companies into bankrupcy will pay heed. Somehow, I doubt it!
    • Daniel  •  Fort Worth, United States  •  3 months ago
      This is set by a pagan. And, Im not supposed to listen to them. For I am a true catholic. And, since Christ Himself said, in the true Scripture, there is not but pagans, and Christians, in this world, thats right, only one religion, I decided not to even listen to them. Besides, who wants to listen to a man that is with a name that is not even his.... I know what it says in the Apocalypse... And it is specific about the book of life. And it says - all liars.
    • Lawful  •  3 months ago
      George is absolutely right. They are already trying to bring online the debt "bazooka" in Europe. It's name is the EFSF or ESM. Look it up on youtube, search THE SHOCKING TRUTH OF THE PENDING EU COLLAPSE! When they bring this in they will have taken away all our rights and sovereignty with no come back. It leaves no doubt as to our true state of freedom. We are debt slaves, we just all don't know it yet. How did we get here?

      By having a private central bank that prints money out of thin air and loans it to the government at interest making the government tax and fine us in every manner possible to pay back the loan and interest. If you don't think the government gets it's money from the Bank of England (you may think the goverment spends tax payers money) then how is the government in debt? All governments have a central bank, and all the Central banks; Fed Reserve, Bank of England, ECB, IMF etc are one and the same. Governments around the world borrow money from them and then have to pay it back at interest. This is how our banking system works. All money is debt. Look up fractional reserve banking or fiat currency.

      All money is created from debt, add on the interest charged on any loan, morgage or credit and you now owe more money than has been created (the principal). In a money system based on debt which ours is, there will always be more debt than actual money. Central banks then always have the wealth gradually transferred to them. The Rothschild family is now worth over $500 trillion!! Over 50% of the entire wealth of the planet excluding properties and land!!!

      "Permit me to issue and control the money of a nation, and I care not who writes the laws." - Mayer Amschel Rothschild, 1790.

      “If my sons did not want wars, there would be none.” - 1849. Gutle Schnaper, Mayer Amschel Rothschild’s wife.

      ****Anyone want to know why countries are borrowing money to pay their debt?? We all know it doesn't make sense, why don't they?? It DOES make sense if you
      understand the system. All new money in the system is created by debt.

      "Each and every time a bank makes a loan, new bank credit is created -new deposits- brand new money." - Graham F. Towers (Governor, Bank of Canada, 1934-54)

      "That is what our money system is. If there were no debts in our money system, there wouldn't be any money." - Marriner S. Eccles (Chairman and Governor of
      the Federal Reserve Board)

      ....so if we all pay off our debts, there wouldn't be any money. If countries tighten their belts and start paying off debt, then .....we are right back in a recession!! We are trapped by the system. They only logical thing they can do, is borrow money. They borrow it, at interest, creating more debt to pay off the earlier debt, but now the money supply is also bigger. Not enough to pay off all the debt, but enough to keep the game going. This is our banking system.

      It has been in place for hundred's of years. This is what America fought the war of indepence for:

      "The inability of the Colonist to get power to issue their own money permanently out of the hands of George III and the international bankers was the Prime reason for the revolutionary war." - Benjamin Franklin. Watch "money as debt" on youtube.

      And why 2 U.S. presidents were assassinated, look up Abraham Lincoln and the Bank War or about Andrew Jackson or John F Kennedy and Executive Order 11110.
      • Joe Public 3 months ago
        nutter
      • Lawful 3 months ago
        Joe, you called me a nutter last time, if you can't rotate your insults, I'll refuse to be offended!
    • wohuman  •  3 months ago
      Well when the whole system is based on monetary means for survival & money for the 99% is scarce. While money for the 1% is abundant.

      And bailouts and national debts cause inflation, thus a higher cost of living, war$ and riots are inevitable. This has been known for centuries.
      Even Plato/Socrates and Karl Marx wrote about it.

      With that said, the 1% know exactly what they are doing.
      This is a class warfare and it is nothing new.
      The only thing new is that they have reached record profits by way of corrupt monopolies.
    • wohuman  •  3 months ago
      Also the govt created the national debt but takes no responsibility/accountiability for it.
      But we the taxpayers have to foot the bill?