Geldof said the images of three-year-old Syrian Aylan Kurdi's body being washed up on a Turkish beach, and other distressing reports from borders and cities across Europe, were a source of shame.
"I look at it with profound shame and a monstrous betrayal of who we are and what we wish to be," he said.
"We are in a moment currently now that will be discussed and impacted on in 300 years time."
Geldof said he was in his home on Thursday night and could not grasp the depth of the crisis and the limited response from governments when he decided he should put his money where his mouth is.
"I've known, you've known, and everyone listening has known that the bollocks we talk about, our values, are complete nonsense," he said.
"Once it comes home to roost we deny those values, we betray ourselves, but those values are correct, and it happens time and time again.
"So we are better than this, we genuinely are....
"We must have the politics and the humanity to deal with it. It makes me sick and a concert won't do it," Geldof added.
- AAP