Friday, June 4, 2010

Soros: China Will Lead New World Order

And this is the guy Obama listens to. This interview took place in October of 2009, and he is proposing a new world currency. Looking forward to today, the EURO that was meant to be the European "world" currency is now in shambles and may be brought down by little Greece, an economy less that 1/8th the size of California.

The problem that Greece has, is that they have no internal way of hiding their deficit spending. We, here in the US, and in many countries, can "inflate" away our debt. Not good for our purchasing power, but at least it doesn't decimate the world economy.

Hope that Obama has learned something about economics 101 in relationship to the EURO situation and Greece's deficit spending. Somehow, I doubt it, and some would say he is spending us into ruin in order to create a new world order.

Billionaire globalist George Soros told the Financial Times during an interview that China will supplant the United States as the leader of the new world order and that America should not resist the country’s decline as the dollar weakens, living standards drop, and a new global currency is introduced.

“You need a new currency system and actually the Special Drawing Rights do give you the makings of a system and I think it’s ill-considered on the part of the United States to resist the wider use of Special Drawing Rights, they could be very useful now when you have a global shortfall of demand, you could actually internationally create currency through Special Drawing Rights,” said Soros, explaining that this was already in process after the IMF injected an allocation of Special Drawing Rights (SDRs) equivalent to $250 billion into the global economy.

Soros also stated that richer countries were already transferring wealth to poorer countries via SDR’s, with the IMF paying for the half per cent transaction cost.

Soros said the world would have to go through a “painful adjustment” following the decline of the dollar and the introduction of a global currency. Reading between the lines, he essentially threatened to kill the dollar completely if the United States did not get on board with the global currency.

Soros predicted that China would become the new engine of the global economy, replacing the U.S., and that this would slow economic growth and reduce living standards. Soros characterized the United States as a drag on the global economy because of the declining dollar. Soros: China Will Lead New World Order

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