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Speculator Sorin Ovidiu Vantu about current financial crisis

Speculator Sorin Ovidiu Vantu said in an interview with the Bursa daily, on Thursday, that the solution found by some governments, to financially support big companies facing difficulties, seems bad to him.

'The solution to the crisis is different, and it comes naturally. It is a mistake to support virtual money with good money, ' said Vantu.

He added that huge sums are disappearing today in world finance, and it does no longer happen like before, when some people got rich and some others poor. 'Now, it is different. Money merely disappear. It looks like a hocus-pocus performed by David Copperfield, at planetary scale.'

Vantu said there was a magic of virtual money, 'money which did not exist, but which ensured living standards higher than those normally derived from the economic reality.' He believes the world sees sweeping changes, after the collapse of communism, it is the turn of virtual money to disappear, re-settling at the level of the planet is taking place now.

Asked where the world goes to, Vantu answered that the governments financing companies seeing difficulties do no more than buying time for finding solutions. He believes there is no solution for perpetuating this life style, and in the end government will have no solution and no money. 'Nothing better expects us, we are heading towards poverty. Consumption in excess will be eliminated, illusions will be proved as such. The world will again learn to face hard times, ' said Vantu.

He believes the governments deciding today to take action in the crisis, will have too much power, in future, and they will take tough measures, in some cases dictatorship will be justified by those at rule by the difficult situation.

Vantu is convinced that the world will turn to production, to classical, sure values, such as work.

He thinks Romanians can be upbeat, although there is huge risk, the risk is that millions of people who left to work abroad will have to return. 'Repatriation of those working abroad not only would make us no longer have billions euros sent to Romania, but some two or four million people would be coming to live in Romania. "On a short term, this is a disaster, but on a long term, the gain would be huge, because the local market needs manpower, and the return of Romanians 'would put in place conditions for development, not only for survival".

In the end, Vantu said that investors should relax now, "they have nothing more to lose".

 

Sursa: http://www.rompress.ro

Tags: vantu world crisis money

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