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Soros Sells Gold ETF While Paulson Buys - PIMCO Favour Gold As A “Protection Against What Can Go Wrong”

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Tue, 05/17/2011 - 07:17 | 1282276 ZeroPower
ZeroPower's picture

Basketball poles? Theres more important stuff to look out for...

Tue, 05/17/2011 - 07:11 | 1282273 I am a Man I am...
I am a Man I am Forty's picture

looking for recommendations on where to buy gold bullion stored in allocated accounts inside and outside of US

Tue, 05/17/2011 - 07:16 | 1282277 Michael Victory
Michael Victory's picture

Ever heard of Midnight Gardening?

Tue, 05/17/2011 - 07:20 | 1282279 Crisismode
Crisismode's picture

I've heard that the Canadian seeds grow faster than the American or South African varieties. Any truth to that rumor?

Tue, 05/17/2011 - 08:37 | 1282280 Michael Victory
Michael Victory's picture

plant all three.

Tue, 05/17/2011 - 07:24 | 1282281 I am a Man I am...
I am a Man I am Forty's picture

looking for somewhere mainly outside US that is in a very secure location, thinking singapore, or switzerland

it would be more than I would feel comfortable with burying in my yard

Tue, 05/17/2011 - 07:41 | 1282305 Temporalist
Temporalist's picture

Jim Rogers and Marc Faber both like Singapore I believe.

Tue, 05/17/2011 - 08:01 | 1282341 razorthin
razorthin's picture

SGOL - Swiss vaults.

Tue, 05/17/2011 - 10:43 | 1282927 DosZap
DosZap's picture

The Swiss are whores, they will sell you put to the IRS in a nanno second.

NO institution on this planet is as safe as you holding your own.

The tentacles of the Feds is worldwide.

Tue, 05/17/2011 - 11:14 | 1283053 Ratscam
Ratscam's picture

rent a safe-deposit box with a small regional bank in Switzerland, something like Sparkasse or Kantonalbank. Stay away from the big banks in big towns. Singapore is a good diversification as well.

Tue, 05/17/2011 - 07:26 | 1282282 ivana
ivana's picture

Coming soon in MSM near you:

Soros bullish on US bonds!

Tue, 05/17/2011 - 08:46 | 1282432 oddjob
oddjob's picture

Thanks to J.W. this month for showing us what Soros actually is, a whore for the cabal.

Tue, 05/17/2011 - 07:26 | 1282283 Math Man
Math Man's picture

My guess is Soros is now SHORT gold...

According to the 13F, he was out on 3/31 - but was rumored to be selling two weeks ago.

Zero Position on 3/31 + Additional selling in May = Short position.

 

Buy puts.  Only 20 implied vol....  they don't get much cheaper than that.

 

Tue, 05/17/2011 - 08:09 | 1282361 luk427
luk427's picture

He sold shares in the gold scam gld, but increased his position in gold mining stock.He could have also taken delivery of physical when he got out of gld. Big difference from shorting gold. Media scum bags know when to pull out news, put a spin on it to fuck with people's heads. Shit sounds like the bin Laden BS as well. 

Tue, 05/17/2011 - 08:18 | 1282370 Math Man
Math Man's picture

Re-read the article.  Paulson increased holdings of the Miners, not Soros.  Soros, had small increases in his miner holdings... but sold almost $700mm worth of GLD.

And PS, GLD is not a 'paper' scam...  it is fully backed by allocated physical Gold.  There is an audit and bar list on the website. 

 

Tue, 05/17/2011 - 08:21 | 1282383 Fred C Dobbs
Fred C Dobbs's picture

From Harvey Organ's blog

 


he two ETF's that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.

Tue, 05/17/2011 - 08:47 | 1282431 Math Man
Math Man's picture

Yeah, you should definetaly trust Harvey Organ over the prospectus. 

What part of ALLOCATED don't you undertand???????

There is physical ALLOCATED metal backing these ETFs... 

ALLOCATED metal means there is only one title....  Are you guys fucking stupid?

 

Tue, 05/17/2011 - 08:53 | 1282456 Smiddywesson
Smiddywesson's picture

Federal employees just learned that their pensions aren't really allocated.

Social security is supposed to be a fund.  Those funds aren't allocated.

I don't really trust what Wall Street says.  If that makes me "f*** stupid" well, I guess I'm stupid.  From my perspective, trusting is stupid.

Tue, 05/17/2011 - 09:55 | 1282683 gmrpeabody
gmrpeabody's picture

+++

Tue, 05/17/2011 - 08:57 | 1282475 tmosley
tmosley's picture

What part of "past fraud defended as standard industry practice" don't you understand?

Here, maybe an actual example might http://www.reuters.com/article/2007/06/12/idUSN1228014520070612

And it's still going on: http://www.gata.org/files/RamseyV.UBS_.pdf

If "allocated means there is only one title", then why do you keep claiming that metal from SLV can be used to settle demands for delivery from the COMEX?  You can't have it both ways.

Tue, 05/17/2011 - 09:03 | 1282490 Math Man
Math Man's picture

Dumbshit, any short can buy the shares, take delivery and use the physical to settle.

And actually, I think COMEX lets you deliver the shares directly.

BECAUSE THE METAL IS ALLOCATED.

 

 

Tue, 05/17/2011 - 09:58 | 1282656 Hard1
Hard1's picture

Did you happen to read the links????  Morgan stanley and UBS said they "bought" ALLOCATED gold on behalf of clients and didn't buy the gold, a small "operational omission" that wasn't noticed until clients asked for delivery.   ALLOCATED or not, you get an IOU from a bank telling you there is gold backing that piece of paper that they willingly give you in exchange for your hard earned money....sounds familiar?????  No, I won't ask who is the dumbshit now, time give you your place.  Do you think you are a genius just because you can type ALLOCATED in caps???? oh, by the way, time is up.... Dumbshit!

Tue, 05/17/2011 - 10:02 | 1282655 Ag Tex
Ag Tex's picture

Big snipe hunt planned.  All the guys would really like for you to come along!

Tue, 05/17/2011 - 11:24 | 1283086 DosZap
DosZap's picture

Try geting ALLOCATED out of them.

Tue, 05/17/2011 - 08:41 | 1282416 tmosley
tmosley's picture

It sure is funny how you claim they aren't a scam on one hand, while you claim that their gold and silver is available to satisfy those standing for delivery at the COMEX on the other.  That's like saying you aren't bankrupt so long as someone who uses your bank has money.

lol

Tue, 05/17/2011 - 08:57 | 1282448 Math Man
Math Man's picture

Because they are NOT a scam and backed 100% by physical, they can be used.

Is that too hard to understand?  Because you can take physical delivery from the ETF through an AP,  you can use them to settle a COMEX contract.  There is real GOLD there...

 

And, PS, the short is the one who forces delivery on the long, not the other way around.  Any short can buy shares of GLD or SLV and use the physical backing for settlement...  and actually, it is my understanding that  COMEX allows you to directly deliver the shares now.  BECAUSE THEY ARE THE EQUIVALENTS.

 

 

 

Tue, 05/17/2011 - 09:02 | 1282484 tmosley
tmosley's picture

lol, except there are fewer than 30 market participants that can actually redeem the shares for metal.

And you seem to think we should all sell our gold and silver before all this buying pressure hits GLD and SLV from the COMEX.  What the fuck is wrong with you, you blithering moron?

Tue, 05/17/2011 - 09:02 | 1282497 Math Man
Math Man's picture

Wrong again...  Any player can have the AP do the exchange ON THEIR BEHALF.  Just like Einhorn did.

And, FYI, the volume for one contact is nothing compared to the average daily volume.

Tue, 05/17/2011 - 10:12 | 1282761 tmosley
tmosley's picture

Uh-huh.  An insider did it, so ANYONE can do it!  

Enron called, they want their accounting strategies back.

Tue, 05/17/2011 - 11:45 | 1283182 DosZap
DosZap's picture

Duh, remember the dudes that tried to remove THEIR Phys  Silver from Crimex?.

They could not get Silver, they were forced to take 20-40% cash instead.

FRN's are not Silver.

Tue, 05/17/2011 - 08:52 | 1282442 Smiddywesson
Smiddywesson's picture

Do the math, Man.

$700 million is 2.5% of his $28 billion fund.

That's hardly a major move for Soros.  I would guess he took the easy money and ran.  On the other hand, it's could also be in response to the safety of the ETF, which is becoming increasingly unsafe.

Tue, 05/17/2011 - 10:03 | 1282703 Hard1
Hard1's picture

Yo are the one who should re-read.  I'll quote and make it easy for you  "This would allow Soros to discreetly accumulate bullion away from the public and media spotlight that result from SEC filings."

Tue, 05/17/2011 - 08:45 | 1282422 luk427
luk427's picture

"George Soros, the billionaire founder of Soros Fund Management LLC, sold most of his holdings in the bullion-backed SPDR Gold Trust and iShares Gold Trust funds in the first quarter, while buying shares of mining companies Goldcorp Inc. and Freeport-McMoRan Copper & Gold Inc. "              You should learn how to read the article before you spread your bullshit,or in your case BEARSHIT.

Tue, 05/17/2011 - 08:48 | 1282438 Math Man
Math Man's picture

He sold $650mm+ of GLD, while buying 15mm of FCX and 350k worth of GG....

Great swap... he bought back 2.3% of the Gold he sold in Miners...

 

 

Tue, 05/17/2011 - 10:02 | 1282709 Hard1
Hard1's picture

You cannot know how much he bought back...again, re-read "This would allow Soros to discreetly accumulate bullion away from the public and media spotlight that result from SEC filings."

Tue, 05/17/2011 - 10:09 | 1282715 Hard1
Hard1's picture

-deleted double post-

Tue, 05/17/2011 - 10:45 | 1282939 DosZap
DosZap's picture

You can bet your ass SOROS has a shitload of Physical.

That scummy bstd is as crooked as GS.

Tue, 05/17/2011 - 09:40 | 1282634 halcyon
halcyon's picture

According to GuruFocus:

http://www.gurufocus.com/etf.php

Most held ETF by "guru" followed investors: GLD

Most bought ETF last quarter: GLD

Second most sold ETF last quarter: GLD

According to Alphaclone, GLD ETF positions were increased by 53 in the Q4/10 quarter (Q1/2011 data not yet in their service)

Tue, 05/17/2011 - 07:27 | 1282284 MarketTruth
MarketTruth's picture

Question: Soros could have 'cashed in' his GLD for actual physical metal from GLD. Perhaps that happened. So the queston is, did Soros cash in his shares and take physical delivery of gold from the ETF?

Tue, 05/17/2011 - 07:57 | 1282326 Butchery101
Butchery101's picture

I bet he did, MT, I bet he did !

 

Tue, 05/17/2011 - 09:00 | 1282472 wirtschaftswunder
wirtschaftswunder's picture

Yeah, he's storing it in coffe cans in the back yard. He'll schlep it down to the local coin dealer during armageddon to buy more ammo and turkish carpets. 

Tue, 05/17/2011 - 08:18 | 1282374 Math Man
Math Man's picture

Sure.  Yeah.  That is it.  He still has it, even after it went up over 5x in in 10 years and he called it the 'ultimate' bubble.

 

Seriously, you still have time to get out.  Sell your Gold NOW... it is going to be much lower.  The Chinese and Indians are the biggest buyers because they have an inflation problem.   Now that they are both tightening, Gold demand is only going lower...    Have fun back below $1000.

 

Tue, 05/17/2011 - 08:41 | 1282424 tmosley
tmosley's picture

Your agenda is showing.

He called it the "ultimate bubble" while secretly buying it.

I guess the troll brigade saw that we caught them shifting sentiment from telling people to sell ALL PM's to "sell silver buy gold", so now jackass here is trying to make up for it.  He knows he is the least credible of his bunch, so he is trying to pretend as if sentiment hadn't shifted.

You guys need to find a dumber audience.  Really.

Tue, 05/17/2011 - 08:44 | 1282430 luk427
luk427's picture

HE said it would be the ultimate bubble.    That does not imply that it is a bubble yet.

Tue, 05/17/2011 - 08:59 | 1282469 Math Man
Math Man's picture

He is SELLING.

 

Why aren't you?

Tue, 05/17/2011 - 09:02 | 1282499 tmosley
tmosley's picture

No, he sold two months ago, dumbshit.  No-one but him knows what he is doing now.

Your agenda is showing.

Tue, 05/17/2011 - 10:51 | 1282957 DosZap
DosZap's picture

Can you spell P_A_P_E_R??????????????.

He NEVER owned any physical in GLD.

Tue, 05/17/2011 - 14:41 | 1283990 Atlas Shrieked
Atlas Shrieked's picture

Because I'm not a bumbling dumb fuck like you.

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