Soros Says the SDR Will Replace the Dollar
April 6, 2009 • 10:28PM

George Soros gave an interview to Reuters Financial Television today, in which he continued his push for an international currency, and added that the U.S. banking system was "insolvent" and that Germany had to step in and bail out the banks operating in eastern Europe.

Soros specifically suggested that the IMF's Special Drawing Rights (SDRs) should be considered as a possible world reserve currency, saying, "in the long run, having an international accounting unit other than the dollar may be to our advantage." He did not expand on just whom he had in mind in his use of the word "our."

Concerning the United States, the fascist-trained financier stated "the [US] banking system as a whole is basically insolvent," adding that nationalization of the banks "was out of the question." Soros pointed to the US deficit, ballooning under the weight of the Obama stimulus and budget programs, saying "that is coming to an end," then ominously adding that, "it will not be allowed to recur. There will have to be some change." He undoubtedly has in mind the kind of slashing of entitlements and budgetary austerity that his former patrons in Nazi Germany made famous under central banker Hjalmar Schacht.

As for Germany today, the largest economy in the Euro-Zone, Soros demanded that they take on more debt, noting that although Germany "had been the most reserved about being the deep pocket for the region," they had now recognized their responsibilities toward Eastern Europe, and were coming around to the need to step in and bail them out.

Reuters did not post the actual video of the interview, perhaps because George again affirmed, as he did on 60 Minutes in 1998, that his youthful days working for the Nazi Wehrmacht were the "happiest time of my life," and most definitive of his character.