Guess Who’s Loading Up On Gold, and Why…
From OilPrice.com:
The famous, billionaire investor George Soros has just recently invested millions of dollars into gold bullion, leaving other investors wary of his view of the US economic recovery; Forbes Magazine however, advises not to follow in his footsteps.
Soros and a fellow investor, John Paulson, have accumulated the largest combined private gold bullion reserve in history. Paulson owns 21.8 million shares in the SPDR Gold Trust, equal to 66 tonnes of gold; more than the reserves owned by Brazil. Soros owns $219 million dollars’ worth of Gold Stock, having increased his holdings by 49% in the third quarter of this year alone.
Soros has rushed to invest in Gold due to his doom and gloom predictions about the future of the US economy. In an interview with Newsweek earlier in the year, he stated:
I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career. We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.
As anger rises, riots on the streets of American cities are inevitable. Yes, yes, yes. It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.
Investors might be inclined to follow the two billionaires; however Nigam Arora from Forbes suggests caution.
There are plenty of reasons to buy gold; buying gold just because Paulson and Soros bought gold is a fool’s game.
I am not privy to the current thinking of Paulson or Soros. Most money managers tend to have a portfolio strategy and if they are buying gold a macro strategy. An investor who simply buys one position of a fund without understanding the rest of the portfolio of the fund is not doing himself or herself a favour.
by 
Yeesh I hate this guy. He’s a financial terrorist & has caused economy’s to collapse all over the world. He is known after all, as “the man who broke the bank of England”.
Now we all know he’s a puppet master of Barack Obama & we all know he’s stated the destruction of America will be the culmination of his life’s work & that he seeks to destroy our constitution as he has done to other countries. (See the George Soros steps to overthrow a government). So how can we not take these things Dr. Evil says seriously?
I have to admit seeing his quotes to Newsweek give me chills! After the massive bulk purchase of hollow-point rounds by the gov’t even more so!
Again; I hate this guy! If there were really as many “right wing terrorists” out there as DHS implies; Soros would not be walking around continuing his reign of terror today!