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View Full Version : George Soros sells his gold



RonPaulFanInGA
05-23-2011, 12:42 PM
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8524535/George-Soros-sells-his-gold.html


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.
Dr.3D
05-23-2011, 12:44 PM
If it does, will George buy it all back again?

What a great way to work the system. Scare people into selling after you have sold, and then buy back what you had and keep the change.
TheNcredibleEgg
05-23-2011, 12:46 PM
Just a note:

The quote calling it the "ultimate bubble" was made over a year ago.

Plus also - I believe the quote was taken out of context. He was alluding to the fact that gold will become the ultimate bubble.

Think about the words ultimate and bubble. Is $1500 ($1200 when he quoted it) really the "ultimate" bubble yet? Ultimate meaning more bubblicious than past bubbles - housing, tech, gold back the 70s. Not even close.

But it will become the "ultimate" bubble. Give it time.
ctiger2
05-23-2011, 12:53 PM
IIRC Soros owned SPDR which is paper gold anyhow. Prob dumped that and bought physical. He did say Gold will be the ultimate bubble, not Gold is the ultimate bubble. Who knows, maybe he's got inside info that Gold's gonna fall to $500 this summer and he'll re-buy.

edit


showed that he had sold 99pc of his holding in SPDR Gold Trust, an exchange-traded fund (ETF) backed by gold bullion, by the end of March.

Sure it is... ; )
RileyE104
05-23-2011, 01:08 PM
The conspiracy side of me believes that another a stock market crash is coming soon... Which means I'm going to have money saved to buy MORE gold/silver if the price falls big again like in '08. Fuck selling! PM's will be back up (if they fall) when the Federal Reserve tries out more of it's "QE" policy again, which no doubt in my mind will happen.
tasteless
05-23-2011, 03:33 PM
lol, if the gold price crashes is the SEC gonna investigate him for pumping and dumping?
Dr.3D
05-23-2011, 03:48 PM
lol, if the gold price crashes is the SEC gonna investigate him for pumping and dumping?

Na, but they might split the loot. ;)