The End Of The U.S. Dollar & With It The United States Of America… Video & Commentary

America comes a cropper.

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.

“Instead of stimulating the economy, they will draw the lifeblood, so to speak, of profits away from the real economy in order to keep themselves alive. This is the zombie bank situation.”

“I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries,”

“Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end.”

“In the long run, having an international accounting unit rather than the dollar may, in fact, be to our advantage so we can’t splurge — you know, it felt very good for 25 years but now we are paying a very heavy price,” Soros said.

The system was “fundamentally flawed, and there is no returning to where we came from,” he said.

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