The Armangeddon script:Soros sees no bottom for world financial "collapse"

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.

Crisis in Credit

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.

Volcker said industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.

"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.

(Reporting by Pedro Nicolaci da Costa and Juan Lagorio; Editing by Gary Hill)

The Armangeddon Script:Greek Stock Index Tumbles 7%, Financial Stocks Plunge 17%

Editors Note: I would recommend you read the book by William Cooper r.i.p. "behold a pale horse" you can find it at the bottom of this post. Especially where he tells us that the whole economic system is like energy, an electrical circuit, you can even apply the same complex mathematical formulas for it. Bauer later Rothschild found this out very early but there were no computers at that time to show this. Of course most people who read this already know this and it is more for the ones who are still in ignorance.

The funding crisis is finally becoming a stock market crisis. Greek bond pricing service HDAT has suspended all bond trade indications. The banking sector is now down 17%. We will keep you updated on the Lehman, pardon, Greek collapse.

This is what the BBC British Brainwash Corporation tells us

Behold a Pale Horse




Read more>>