In an interview out of Davos, Switzerland, George Soros told FT that authorities are terrified over the financial situation in countries like Ireland. The oligarch spoke up for "the people" in his remarks and said that it is "blatantly unfair for the people [of Ireland] to absorb all the losses" in Ireland, while bond holders go free. He said this is causing fear among authorities and it is why an EU emergency fund must be said.
Not mentioned by Soros is the fact that an emergency fund would result in further EU control over "independent" EU nations.He also failed to mention the fact that an emergency fund would simply spread the cost over entire EU population, rather than only the populations in the countries with the debt problems. As for objections from the German people about bailouts, the master manipulator said the German people "were coming along".
Soros correctly noted that the Chinese had made a mistake in monetary policy and that inflation in China is "on the verge of getting out of control."
Bizarrely, he sees the United States in a "sweet spot" because of its current situation of "some inflation" and simultaneous quantitative easing. He also believes that the U.S. will end up "importing" some inflation from China, and also views this in the same odd fashion as a good thing.
The full interview is here.