Soros Weighs In: “It Is Necessary to Think the Unthinkable”

Monday, September 19, 2011
By Paul Martin

Mac Slavo
September 19th, 2011
SHTFplan.com

George Soros, billionaire financier, chairman of a Cayman Islands based private hedge fund, and Grand Master of the world’s chess board, is weighing in on the European crisis and details some of the problems faced by Europe, as well as some proposed solutions. Love him or hate him, Mr. Soros is a major player and holds significant influence, therefore we stress that his comments should not be ignored.

By all accounts, the situation in Europe is very serious, though news coverage suggests (and has continued to suggest for nearly two years) that the crisis is just days from a final resolution.

While Europe is an ocean away and their problems are seemingly isolated to only the Eurozone region, we simply cannot ignore the implications of a European collapse on the American economy. History provides a clue as to how bad things can get even when the triggering events happen in other countries. While we often look back at the catalyst for the Great Depression as being the October 1929 stock market crash, the reality is that the Great Depression went global and full force when European nations defaulted on their debt obligations and their economies crumbled. The situation is starkly similar to what we face today, and according to Soros, may go full circle very soon:

To resolve a crisis in which the impossible has become possible, it is necessary to think the unthinkable. So, to resolve Europe’s sovereign-debt crisis, it is now imperative to prepare for the possibility of default and defection from the eurozone by Greece, Portugal, and perhaps Ireland.

Source: Thinking the Unthinkable in Europe by George Soros

The Rest…HERE

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