Saturday, September 8, 2012
Gold Back in a Big Way After $130 Million Purchase by Soros
He’s buying the ETF instead of physical gold. The ETF does not carry with it any “right” to exchange it for gold, and some doubt if the fund that holds it even has much physical gold. I could be wrong but I think this ETF is run by J.P. Morgan. When the banks collapse, I think it’s a given the market will collapse as well. Won’t that leave him out in left field with all that paper? I could care less what happens to the POS George Soros, but I would have thought someone who knows the markets like he does would be in physical gold and not what amounts to another fiat. The massive investment in GLD indicates that he is betting on an overall downturn in the stock market. We might see something similar to 2008. Which would create another period of great buying opportunities. But what might be in play here are GRA’s. If Obama confiscates all public and private retirement accounts, Soros has positioned his investments in stocks that offer some protection against resulting losses. Such a confiscation of wealth could also trigger massive civil unrest. If you’re not familiar with Obama’s GRA plan, I recommend researching it.
Labels: George Soros