Soros: Fall of Euro Would Doom Global Economy

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Billionaire George Soros is predicting riots in the U.S. and a possible global economic collapse.

The 81-year-old far-left investor warned that more must be done to safeguard the euro.

'The euro must survive because the alternative, a breakup, would cause a meltdown that Europe, the world, can't afford," he told Newsweek.

"The situation is about as serious and difficult as I've experienced in my career," he added. "We are facing now a general retrenchment in the developed world."

Soros made his billions by betting on past downturns.

Some people call Soros "the man who broke the bank of England" because he made a billion dollars on the collapse of the British pound in 1992.

Soros now believes the world economy is on the brink of collapse and that what's going on now with capitalism is similar to the collapse of the Soviet Union.

Newsweek magazine reports Soros was almost "gleeful" when he told them the Occupy Wall Street movement will soon lead to violent riots across the United States.

Critics say Soros helped finance the Occupy movement.

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