Paulson advises hold, sells half his fund’s gold

JoongAng Daily ^ | 08/16/2013 | JoongAng Daily

[dennisw]

http://www.americanbluesscene.com/2012/07/the-language-blues-back-door-man/

[SunkenCiv]

Mister Bubble will get you so cleaned out your mother won't know you.

John Paulson, who told investors as recently as last month that they should own gold, cut his holdings in the metal by more than half as prices plunged into a bear market.

[Boomer One]

Why save? If it’s food, FEMA has the right to come and take it in an emergency situation. I’ve feared gold because of the Gold Act of 1934. Now we’re being told that if you have too much cash, governments should be allowed to “lop off” your account. Stocks, particularly those held in IRAs and 401k accounts, may be eventually rolled into government controlled retirement plans. No, the answer is to spend everything you earn or have given to you. That way total reliance on the government is assured and the “ elites” (being those in government or their super rich friends) will enjoy the fruits of your labor.

Is it just me or is anyone else noticing the worldwide increase of the poor, growing class and race envy, push toward civil and class warfare, and calls for a world government? Something big is being orchestrated and I fear the future. It’s as if “1984” and Brave New World” we’re being merged and the new war is on success, personal freedom and responsibility.

[NeoCaveman]

Looks like Mr. Paulson locked in his losses at the bottom. We’re up since then. Soon to be knocking on the 1,400 dollar door.

[SkyPilot]

They say there are 43 paper claims for each oz of physical.

Yup.

Their "paper gold" certificates will be worth about as much as this one.

[Republican1795.]

The point I was trying to make is that gold will always be worth quite a bit so selling it all right now just because of a slight dip in price is ridiculous. There is no risk in holding onto to it - particularly as the paper economy implodes which would cause the value of gold to go up. The true risk is holding onto to too much fiat paper.

[Republican1795.]

The point I was trying to make is that gold will always be worth quite a bit so selling it all right now just because of a slight dip in price is ridiculous. There is no risk in holding onto to it - particularly as the paper economy implodes which would cause the value of gold to go up. The true risk is holding onto to too much fiat paper. When the fiat paper is worthless those who held onto gold will be in a much better position.