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George Soros Says Something Honest for Once in His Life – “Disintegration of EU Irreversible”

The masters of global finance will now punish Britain to try to scare British into the safe corral where sheeple have no representative government. – Ray Songtree

 

http://www.infowars.com/george-soros-brexit-makes-eu-disintegration-irreversible/

From Info wars, originally from Zero Hedge – June 26, 2016

George Soros: “Brexit Makes EU Disintegration Irreversible”

Just four days ago, the “big guns” when George Soros wrote a Guardian op-ed titled “The Brexit crash will make all of you poorer – be warned” in which he said that “as opinion polls on the referendum result fluctuate, I want to offer a clear set of facts, based on my six decades of experience in financial markets, to help voters understand the very real consequences of a vote to leave the EU.”

We promptly countered that Soros’ set of “facts” may be clouded by his far greater equity stake in interests around Europe, and the globe, which would be drastically impacted by not only a Brexit, but by a European Union which is suddenly on the rocks. That’s precisely what happened when, as we wrote earlier, the world’s 400 richest people lost $127.4 billion Friday following the Brexit vote.

Soros was among them.

However, seemingly unhappy that his generously altruistic warning was so roundly ignored by the peasants, not to mention his sudden concern about the future of the European Union whose collapse would also destroy the premise behind Soros’ Open Society globalization initiative, the 85-year-old billionaire has decided to follow up with a case of sour grapes and go all in, making another forecast – since his first one was so clearly rejected – and in what may end up roiling markets even more, moments ago Soros said in his second op-ed of the week that the “catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term. The pound plunged to its lowest level in more than three decades immediately after the vote, and financial markets worldwide are likely to remain in turmoil as the long, complicated process of political and economic divorce from the EU is negotiated. The consequences for the real economy will be comparable only to the financial crisis of 2007-2008.”

But while Soros is lukewarm on the UK, his forecast about Europe is far more dire.

But the implications for Europe could be far worse. Tensions among member states have reached a breaking point, not only over refugees, but also as a result of exceptional strains between creditor and debtor countries within the eurozone. At the same time, weakened leaders in France and Germany are now squarely focused on domestic problems. In Italy, a 10% fall in the stock market following the Brexit vote clearly signals the country’s vulnerability to a full-blown banking crisis – which could well bring the populist Five Star Movement, which has just won the mayoralty in Rome, to power as early as next year.

Which, incidentally, is what we warned earlier today when saying that “it appears that the trade now is not to sell Sterling, at least not anymore: one should have done that at 1.50 when everyone was wrong about the Brexit outcome based on manipulated polls as we explained ahead of the event. If anything, sterling will rebound following the positive boost to the UK economy following the devaluation. It’s the long EUR trade we would be far more concerned about here.”

One can be absolutely confident that Soros, who as revealed earlier this month is short the markets, is very, very short the Euro.

This is what else he said in his Project Syndicate Op-Ed, excerpted:

Brexit and the Future of Europe

Britain, I believe, had the best of all possible deals with the European Union, being a member of the common market without belonging to the euro and having secured a number of other opt-outs from EU rules. And yet that was not enough to stop the United Kingdom’s electorate from voting to leave. Why?

The answer could be seen in opinion polls in the months leading up to the “Brexit” referendum. The European migration crisis and the Brexit debate fed on each other. The “Leave” campaign exploited the deteriorating refugee situation – symbolized by frightening images of thousands of asylum-seekers concentrating in Calais, desperate to enter Britain by any means necessary – to stoke fear of “uncontrolled” immigration from other EU member states. And the European authorities delayed important decisions on refugee policy in order to avoid a negative effect on the British referendum vote, thereby perpetuating scenes of chaos like the one in Calais.

German Chancellor Angela Merkel’s decision to open her country’s doors wide to refugees was an inspiring gesture, but it was not properly thought out, because it ignored the pull factor. A sudden influx of asylum-seekers disrupted people in their everyday lives across the EU.

The lack of adequate controls, moreover, created panic, affecting everyone: the local population, the authorities in charge of public safety, and the refugees themselves. It has also paved the way for the rapid rise of xenophobic anti-European parties – such as the UK Independence Party, which spearheaded the Leave campaign – as national governments and European institutions seem incapable of handling the crisis.

Now the catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term. The pound plunged to its lowest level in more than three decades immediately after the vote, and financial markets worldwide are likely to remain in turmoil as the long, complicated process of political and economic divorce from the EU is negotiated. The consequences for the real economy will be comparable only to the financial crisis of 2007-2008.

That process is sure to be fraught with further uncertainty and political risk, because what is at stake was never only some real or imaginary advantage for Britain, but the very survival of the European project. Brexit will open the floodgates for other anti-European forces within the Union. Indeed, no sooner was the referendum’s outcome announced than France’s National Front issued a call for “Frexit,” while Dutch populist Geert Wilders promoted “Nexit.”

Moreover, the UK itself may not survive. Scotland, which voted overwhelmingly to remain in the EU, can be expected to make another attempt to gain its independence, and some officials in Northern Ireland, where voters also backed Remain, have already called for unification with the Republic of Ireland.

The EU’s response to Brexit could well prove to be another pitfall. European leaders, eager to deter other member states from following suit, may be in no mood to offer the UK terms – particularly concerning access to Europe’s single market – that would soften the pain of leaving. With the EU accounting for half of British trade turnover, the impact on exporters could be devastating (despite a more competitive exchange rate). And, with financial institutions relocating their operations and staff to eurozone hubs in the coming years, the City of London (and London’s housing market) will not be spared the pain.

But the implications for Europe could be far worse. Tensions among member states have reached a breaking point, not only over refugees, but also as a result of exceptional strains between creditor and debtor countries within the eurozone. At the same time, weakened leaders in France and Germany are now squarely focused on domestic problems. In Italy, a 10% fall in the stock market following the Brexit vote clearly signals the country’s vulnerability to a full-blown banking crisis – which could well bring the populist Five Star Movement, which has just won the mayoralty in Rome, to power as early as next year.

That is where we are today. All of Europe, including Britain, would suffer from the loss of the common market and the loss of common values that the EU was designed to protect. Yet the EU truly has broken down and ceased to satisfy its citizens’ needs and aspirations. It is heading for a disorderly disintegration that will leave Europe worse off than where it would have been had the EU not been brought into existence.

Join the discussion One Comment

  • Joseph Hart says:

    I received an email from an investment firm, very expensive to join their info network so I am only an email subscriber, that stated that George Soros (Rothschild shill) actually MADE tons of money by shorting the pound prior to the Brexit vote. So, if Soros did, I would imagine many of those in the
    “in crowd” did so as well, probably through their own “representatives”. And I am sure it would be difficult to confirm that those investment actions actually took place as much of it would considered insider trading. The Powers That Be certainly were not taken by surprise with the Brexit vote. We know there was, in hindsight, much misinformation prior to the vote that maintained the the Brits would defeat Brexit. A Google item predicted that Brexit would pass.
    Over half EU countries are now contemplating withdrawal from the EU. Among them are Sweden, France, Spain and Holland. Even Germany, hard hit by the immigration crisis, as is Sweden, is making similar noise and these withdrawals would leave the EU an equivalent of a third world emerging economy under the control of Brussels. It would also weaken NATO playing into Putin’s hands AND put the US in an adversarial position to those strong allies as the US is a NATO stalwart and wants the EU to stay together.
    And let us not forget the World Order credo, “Order Through Chaos”. So while we are dancing in the streets celebrating the desire of Europeans to follow suit with the Brits in “getting back their sovereignty”, there are still several hurdles for the British to clear to consummate this exit. There would be similar hurdles for any others as well. Meanwhile, the manipulative Rothschild Banksters would make sure there would be much economic repercussions on virtual ALL nations involved, Russia would be sure to test NATO resolve (as NATO and the US are flexing muscles in the Eastern portion of Europe thus threatening Russia) and World Chaos would “prove” how badly we need their centralization… World Order.

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