Opinion: (George Soros, billionaire investor): “The world financial system not only isn’t functioning, it’s on the brink of collapse…
“The Hungarian-born philanthropist, who recently spent time in areas where his charities are active, such as Africa, said he sees a growing bifurcation between emerging and developed countries – and he’s more confident about prospects for the emerging ones.
“Despite their assorted problems, including corruption, weak infrastructure and shaky government, developing countries are relatively unscathed by the ‘deflationary debt trap that the developed world is falling into,’ Mr. Soros said…
“The current global financial system is in a ‘self-reinforcing process of disintegration,’ Mr. Soros warned, and ‘the consequences could be quite disastrous. You have to do what you can to stop it developing in that direction.’
“While the economic and fiscal woes of the developed world remain critical, Mr. Soros said his recent travels gave him a sense of optimism about Africa and the Arab world.
“‘A lot of positive things are happening,’ he said. ‘I see Africa together with the Arab Spring as areas of progress. The Arab Spring was a revolutionary development.'”
My Comment: Were it not financiers who brought the world to its collapse? And now they still claim to be its advisers and leaders! They consider the Arab revolutions they have made as progress because it suits them. But the general crisis will sweep everything away and will force to think not in terms of dollars, but integrality.