Billionaire investor George Soros has warned the global economic system could collapse and riots on the streets of America are on the way.
The 81-year-old said he’d rather survive than stay rich as the world faces an ‘evil’ period and Europe fights a ‘descent into chaos and conflict’.
He has backed the euro, bought $2billion in European bonds and insisted the economic climate is similar to the 1930s Great Depression.
‘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. We are facing now a general retrenchment in the developed world.’
His warnings came as U.S. stocks dipped on Tuesday, with talks to resolve Greece’s debt crisis faltering and threatening a five-day winning streak.