George Soros

”s Summer not Fall.

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Everyone is nervous about Europe.  Me too.  I have no way of knowing how much of this is already priced in the market.  You’d have to say a lot based on the violent reaction in the oil patch, some European markets but  I don’t see any positive outcome from this weekend vote in Greece.  If they vote to  keep the austerity demands in place, brief rally and the market will soon say the economy is just going to at best muddle along and at worse, be right back at the  bread line. On the other hand if they abandon austerity, … Read more

Beyond the European Debt Crisis?

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I’ve found some interesting reading material on the European debt crisis.  The markets are completely obsessed with this rightly or not.  I’m equally obsessed, I have to admit so enjoy these musings by Pension Pulse   FRIDAY, SEPTEMBER 16, 2011 Beyond the European Debt Crisis?George Soros wrote an excellent comment asking, Does the euro have a future?HT: Steve:The euro crisis is a direct consequence of the crash of 2008. When Lehman Brothers failed, the entire financial system started to collapse and had to be put on artificial life support. This took the form of substituting the sovereign credit of governments … Read more

| George Soros

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It should be recognized that a disorderly default or exit from the eurozone, even by a small country like Greece, would precipitate a banking crisis comparable to the one that caused the Great Depression. It is no longer a question whether it is worthwhile to have a common currency. The euro exists, and its collapse would cause incalculable losses to the banking system. So the choice that Germany faces is more apparent than real – and it is a choice whose cost will rise the longer Germany delays making it. via Germany must defend the euro | The Great Debate.

George Soros: China will be the NEW world currency

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[youtube=http://www.youtube.com/watch?v=JJVZ8sf6uBI&feature=player_embedded&w=450&h=350] The US Dollar has been the king of currencies for some time now. According to Soros, there was a flight from all currencies, which is why the price of commodities, especially gold and oil, were generally rising. He also stated that an orderly decline of the dollar was desirable and that the entire system needed to be reconstituted towards a global currency. When commodities, notably oil, is bought and sold in the futures markets it is done in U.S. Dollar denominations. This is why we see such a strong negative correlation between the price of crude oil and the … Read more