Soros sees no bottom for world financial "collapse"

Reuters ^ | 2/20/2009

[LottieDah]

NEW YORK (Reuters) - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.

"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

His comments echoed those made earlier at the same conference by Paul Volcker, a former Federal Reserve chairman who is now a top adviser to President Barack Obama.

[MeneMeneTekelUpharsin]

Soros...let’s look at the bright side. You can’t live forever.

[ZirconEncrustedTweezers]

Page not found.

[allmost]

A truly vile man this soros.

[Brilliant]

What? Does he mean socialist countries too?

[RckyRaCoCo]

"We witnessed concocted the collapse of the financial system,"

there, that's better

[madison10]

It is as he wished.

[Kenny500c]

Naked Short sellers.

Just a euphemism for a market manipulator.

[BenLurkin]

His plan all along?

[antceecee]

He will ultimately meet his just desserts.

[Orange1998]

I guess he still wants it to go lower.

[allmost]

I believe that. Watching it happen before my eyes, that gives me little consolation.

[50mm]

Sees no bottom? He's causing it.

[Former MSM Viewer]

http://www.reuters.com/article/newsOne/idUSTRE51K0A920090221

[Frantzie]

He should know - he helped cause it.

[Diogenesis]

Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve
noticed a tremendous draw down of money market accounts in the USA
to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically.
The treasury tried to help with $150 Billion.
But could not stem the tide.
It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts
they estimated that by 2 PM that afternoon.
Within 3 hours. $5.5 Trillion would have been withdrawled
and collapsed and within 24 hours the world economy."

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FLASHBACK: from 9/15/08:

“U.S. President George W. Bush said Monday he is confident
that the markets are resilient and can deal with the latest financial blows.
“We are working to reduce disruptions and minimize the impact
these financial market developments on the broader economy.” ...

U.S. Democratic presidential candidate Barack Obama
said eight years of Bush “brought us the most serious financial crisis
since the Great Depression.”

His Republican rival said John McCain said he was happy the
federal government decided not to use taxpayer dollars to bail out Lehman Brothers.”

How did Obama know THEN
that we would experience the ‘most serious financial crisis since the Great Depression’
when those who did not plan the takeover would not know for three more months?

---

October 10, 2008, another massive selloff.

---

Saul Alinsky, The Latter Rain: "There's another reason for working inside the system.
Dostoevsky said that taking a new step is what people fear most.
Any revolutionary change must be preceded by a passive,
affirmative, non-challenging attitude toward change among the mass of our people.
They must feel so frustrated, so defeated, so lost,
so futureless in the prevailing system that they are willing
to let go of the past and change the future.
This acceptance is the reformation essential to any revolution."

---

Professor Joseph Olson of Hamline University School of Law, St. Paul , Minnesota,
points out some interesting facts concerning the Presidential Election2008

* Number of States won by: Democrats: 19 Republicans: 29
* Square miles of land won by: Democrats: 580,000 Republicans: 2,427,000
* Population of counties won by: Democrats: 127 million Republicans: 143 million
* Murder rate per 100,000 residents in counties won by: Democrats: 13.2 Republicans: 2.1

[combat_boots]

But he’ll be there to ‘help’ pick up the pieces.

You’d think he lived like Howard Hughes or something. The man sent Jews to the ovens. Gues he’s just raised the stakes to an entire nation.

[Dick Bachert]

I’d be willing to bet that – except for gold and silver -- Obama’s key “handler” (Soros) is short every U.S. market and has his “boy” talking the markets down every day.

[WheresMyBailout]

Soros will bring down the American economy for his own financial gain.