Posted on 08/07/2011 8:31:25 PM PDT by ebysan
Gold
George Soros sells his gold
George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.
(Excerpt) Read more at telegraph.co.uk ...
Do not omit the possibility that gold is smarter than Soros, Geithner, Trichet, Lloyd Blankfein, or Elmer Fudd. All put together.
People around the world are wanting to convert financial assets into real, hard assets including gold, farm land, etc.
“”As the precious metals rally ends, you’ll get transition toward related equities,” James Dailey of Pennsylvania-based Team Financial Asset Management, told Bloomberg.”
IDIOT!! There is no rally in precious metals, but there is a huge drop in the value of the dollar (and other major currencies). So no reason to expect a ‘correction’.
With respect to Georgie Boy Soros, he's a conniving and manipulative POS. Most major investors (which I am not) don't broadcast what they buy and sell unless they are attempting to manipulate the market price (IMO). An investor like George can dump his entire gold holdings, which is probably worth millions of dollars and not blink an eye. The immediate result is that many people will assume that if a billionaire dumps it, then it must not be a sound investment and avoid buying it. George can afford to buy or sell whatever he desires and it won't put a dent in his overall net worth. They play with commodities, stocks and bonds like toys.
Thus, I believe George is attempting to manipulate the gold market and drive the price down because it suits his wants, needs or agenda.
So again, I'm not an expert and don't claim to be an oracle, but I don't trust George or any other egomaniacle billionaire.
I'm holding onto my gold, regardless of what happens to the price in the short-term.
Thanks for pointing this out. Not particuarly relevant right now.
I’m glad he sold it all last May. Now he can’t do anything but sit and watch it go up.
I have a serious question. What guarantee do we have that if we buy farmland (even with cash) that we will able to actually use it the we would like to? Who can guarantee that it won’t just be taken away or we will be forced to grow gmo’s?
Mr Spooky Nazi did the same thing in February and May he tries to shake Joe Investor out of Gold every time it peaks then he buys back into it.
Agreed. See post #24.
That’s only about 500 million. I find it hard to believe that he sold most of his bullion with all the fiat currency printing going on. Maybe he has over extended due to his plans to take over the world?
Sosos
Sells Country’s currency short to make money & make a Country’s currency falter & collapse ... He did this to Greece & several small Countries & tried it with the UK
He in a financial “manipulator”
He is a “vile” man!!
Right now, there something fishy in every market.
Gold at $ 1696 and rising.
They can just regulate your tractor off your land. I would not invest in any business until Americans are back in charge in DC.
*groan* Good one.
Many think the way you do. This is part of the reason unemployment is so high. Once Obama is out, things will pick up.
Glen Beckhas been boosting gold for 2 years. Maybe Soros thinks it’s time to hurt those who followed Beck’s advice and also kill the haven of last resort and kill any hope of lessening the damage that’s about to happen. The calamity could be used to usher in a world wide rule by decree.
I think you mean touting. Boosting is stealing. A rather shall we say controversial accusation against Mr. Beck.
What currency did he get in return?
he sold it back in March! LOL at that. What a financial genius. Hey Georgie, I held on to mine. and guess what, I'm still holding on to it. QE3 is right around the corner and everyone knows it. If you sell your metal now in some kind of panic over George Soros you will just drive the price down so aholes like Soros can get back into the gold game at prices below fair market value. This is another attempt to drive down the price of gold. Don't fall for it. QE3 is coming. Hold your gold!
Sounds about right considering that snake in the grass who should be arrested.
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