George Soros sells all his gold.

Discussion in 'Gold' started by PerthStack, May 18, 2011.

  1. PerthStack

    PerthStack Member

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    PerthStack, May 18, 2011
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  2. Peter

    Peter Well-Known Member

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    What gold does in USD and what it does in AUD are two completely different things.
    Easy to see it falling in USD and rising greatly in AUD.
    I.e. US dollar rise means AUD fall.
     
    Peter, May 18, 2011
    #2
  3. Stedlar

    Stedlar Active Member

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    It was all paper gold.
     
    Stedlar, May 18, 2011
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  4. Nukz

    Nukz New Member

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    Yea Peter is on the money, a fall in the AUD back to 90 or so would actually be quite favorable for gold priced in AUD.

    As far as his investments in ETF(SPDR) i believe this product has physical backing to an extent. SPDR is actually quite a safe entry into gold using leverage i believe.
     
    Nukz, May 18, 2011
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  5. JulieW

    JulieW Well-Known Member Silver Stacker

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    And there's the rub.
    I cannot by any stretch of the imagination see Soros bailing on gold - imaginary paper promises,, yes indeed.

    Considering his previous activities, connections and calls, I'd take this as a major signal to hold physical and get ready for the next GFC and another QE3 very soon.
     
    JulieW, May 18, 2011
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  6. jnkmbx

    jnkmbx Well-Known Member

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    I guess this supports my hunch that GFC2 is within the next 2 months :/
     
    jnkmbx, May 18, 2011
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  7. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Suuuure he did :D
     
    Clawhammer, May 18, 2011
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  8. chimpanchu

    chimpanchu New Member

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    I thought the same too. Either all paper gold or he BS selling his physical metals.
     
    chimpanchu, May 19, 2011
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  9. AGgressive Metal

    AGgressive Metal New Member

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    Remember that Warren Buffet sold all his silver at $8 an ounce. The big boys don't always get it right.

    Edit: or rather, they are often satisfied with a decent profit, rather than riding something for all its worth.
     
    AGgressive Metal, May 19, 2011
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  10. goldpelican

    goldpelican Administrator Staff Member

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    Agreed - "let it ride!" isn't a sound investment strategy over the long term.
     
    goldpelican, May 19, 2011
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  11. Guest

    Guest Guest

    It has been a sound investment strategy in silver and gold over the last ten years, that is of course if one considers 10 years 'long term'
     
    Guest, May 19, 2011
    #11
  12. Nukz

    Nukz New Member

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    Buffet is sort of the exception anyway because of the large amount of capital he has access to and the fact that when he speaks people seem to listen he has the ability to move markets. I would say this is the same for Soros as well.
     
    Nukz, May 20, 2011
    #12
  13. goldpelican

    goldpelican Administrator Staff Member

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    That's in a single asset class in a bull market. Soros has a slightly wider scope of investment.
     
    goldpelican, May 20, 2011
    #13
  14. Wout

    Wout New Member

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    There is an unproven conspiracy that during the AIG scandal buffet sold his silver to get a slap on the wrist instead of being raped because of his involvement and all of a sudden some sort of hedge fund popped up with 130 million oz of silver
     
    Wout, May 20, 2011
    #14
  15. thatguy

    thatguy Active Member

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    speaking of 'ol George, just watched "Inside Job" again with my folks in preparation for "Why gold Silver" tomorrow night. Any other recommendations?
     
    thatguy, May 20, 2011
    #15

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