Billionaire George Soros Sees Zombie Banks Draining Life From U.S.A.! End Of U.S. Dollar!!!?

George Soros, the billionaire investor sees Zombie banks draining the life out of the U.S. economy...contrary to the majority of U.S. economists...who see the U.S. economy halting contraction in the third quarter, and resuming growth in the fourth quarter...

The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.

Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into "zombies" that draw the lifeblood of the economy, prolonging the economic slowdown.

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

CNBC

Frightening, this echos in harmony with the Global European Anticipation Bulletin's prediciton for the U.S. and World Economy...

Open letter to the G20 leaders, published in the Financial Times' worldwide edition on 03/24/2009 Ladies and Gentlemen, Your next summit takes place in a few days in London; but are you aware that you have less than a semester to prevent the world from plunging into a crisis that will take at least a decade to resolve,...

Global European Anticipation Bulletin (Leap 2020)

[edit on 7-4-2009 by burntheships]

Again here I am sounding off warnings of "bad news"...just trying to be a lighthouse in the fog...apparently printing money and buying our own treasury bonds has not helped...throwing massive amounts of money at the problems that plague our banking and financial systems just hasn't worked like so many have promised!

The recovery will look like "an inverted square root sign," Soros said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shape recovery or anything like that. You settle down—step down."

The healing of the banking system and housing markets is crucial to recovery. "The banking system, as a whole, is basically insolvent," Soros said.

CNBC

More from the Global European Anticipation Bulletin...

Ladies and Gentlemen,

Your next summit takes place in a few days in London; but are you aware that you have less than a semester to prevent the world from plunging into a crisis that will take at least a decade to resolve, accompanied by a whole series of tragedies and ferment? Therefore, this open letter by LEAP/E2020, who saw the arrival of a « global systemic crisis » as early as three years ago, intends to briefly explain why it happened and how to limit further damage.

If indeed you began to suspect the onset of a sizeable crisis less than a year ago, LEAP/E2020, in the second issue of their « Global Europe Anticipation Bulletin » (GEAB N°2), anticipated that the world was about to enter into the « trigger phase » of a crisis of historic proportions.

GEAB (LEAP 2020)

[edit on 7-4-2009 by burntheships]

My intuition tells me that now matter what anyone does George Soros will make money. I have nothing concrete to back that up, it's just intuition.

Here's the first of the three GEAB reccomendations:

The key to solving the crisis lies in creating a new international reserve currency!

Removing the dollar as the reserve currency seems to be the rallying cry from all corners. Can anyone explain why this would be advantageous and to whom? I think most economics experts have trouble understanding the current world crisis so please have some patience with me.