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WSJ Reports Soros, Burbank Selling Gold, Silver, While Paulson Sees Gold Hitting $4,000 In Three Years
The rumormill around who is buying and selling precious metals is getting more ridiculous than daily Radioshack LBO speculation. The latest comes from the WSJ which informs that based on "people close to the matter" Soros and Burbank are now dumping their gold and silver: "George Soros's big hedge fund, a firm operated by high-profile investor John Burbank and some other leading firms have been selling gold and silver, according to people close to the matter, after furiously accumulating precious metals for much of the past two years." Greg Zuckerman's conclusion, assuming a multi billion hedge fund will actually let its competitors know what it is doing concurrently as it is doing it, is merited: "Their selling suggested the sharp, nine-month run-up for precious metals could be entering more dangerous territory." Of course, something tells us that just like Goldman, whose prop desk has a nagging tendency to buy as its sellside "analysts" say sell, we would rather hold off until we see respective 13Fs on the matter. In the meantime, we fail to see where over the past week the central (pardon the pun) thesis has changed: namely that central banks will not print more linen/cotton when the time comes. And if the market is indeed starting to price in QEasing's end, then the deflationary scare will certainly see the RUT plunge and undo months of carefully executed (by NYU interns) POMO operations. For a Fed which equates the economy with the RUT, this is simply unacceptable.
More from the WSJ:
Yet silver, which has had a huge run, remains up nearly 38% in 2011. It rose 84% last year.
And some prominent investment pros continue to favor precious metals, among them hedge-fund manager John Paulson.
Last week an exchange-traded fund, or ETF, that owns silver bullion—the iShares Silver Trust—was the most active ETF on the U.S. market on some days, a sign of the rabid recent interest in silver.
"We haven't seen this much volatility in decades," said Robin Rodriguez, a metals trader in Charlottesville, Va. "We have such large profits built in," so some investors are taking their winnings, said Mr. Rodriguez, who remains bullish on the metal.
Interest in holding the silver ETF grew so intense it became hard to borrow shares to sell, as bearish traders need to do if they want to sell the metal short and bet on a decline.
All this helped set up the tumble, which started late Sunday, catching many by surprise. As sell orders flooded the market in Asia, brokers sought more collateral from investors who had bought on margin, even as they fielded calls from anxious investors who wanted to sell.
"Everybody wanted to get out," said Richard Digenan, an executive at R.J. O'Brien, a brokerage firm in Chicago.
The other side of the story, that of repeated margin hikes, is well known to ZH readers:
For those who invest in silver via the futures market rather than an ETF, exchanges and brokers have been raising margin requirements, the amount of collateral investors must leave with their broker to back a position.
CME Group, a commodity-exchange operator, has raised margin requirements three times in a week. It announced the latest increase Tuesday.
Many investors in silver futures make heavy use of borrowed money and were faced with either sending more collateral to their brokers or selling some contracts.
But back to the original story:
For nearly two years, Mr. Soros's hedge-fund firm bought gold and silver, becoming the seventh-largest holder of the biggest gold ETF, the SPDR Gold Shares. Some others with stellar records—including Mr. Burbank, of Passport Capital, and Alan Fournier, of Pennant Capital—also have been passionate about precious metals, giving encouragement to individual investors to follow.
Now they are selling, in each case for distinct reasons.
While many who buy gold do so to protect against future inflation, Soros Fund Management bought gold to protect against the possibility of the opposite—debilitating deflation, or a sustained drop in consumer prices.
But now the $28 billion Soros firm, which is run by Keith Anderson, believes chances of deflation are reduced, eliminating the need to hold as much gold, according to people close to the matter.
People familiar with Mr. Anderson's thinking said he believes the Federal Reserve's continuing to pump money into the system has reduced the likelihood of deflation.
The Soros team, meanwhile, isn't especially worried about a surge in inflation. Mr. Anderson has argued that by the end of this year the Fed will signal that interest-rate increases are in the offing, possibly early in 2012, according to someone close to the firm. Higher interest rates would tend to suppress inflation.
The Soros fund has sold much of its gold and silver investments over the past month or so, according to this person.
Mr. Burbank, a longtime gold supporter who predicts growing worries about the creditworthiness of the U.S. and some other nations, has trimmed some of his investments to lock in profits, according to someone close to the firm. This person added that Mr. Burbank remains a long-term gold bull and expects to buy more gold-mining shares after a decline.
Yes, this is the same Soros who bastardized Hayek a week ago, even as he admitted that the current monetary system is on the precipice.
As for the only guy who matters, and whose every move is studied under a microscope, he is not budging. In fact, he see gold at $4,000 in 3 years.
A number of high-profile investors remain huge holders of gold and silver, amid continuing concern about inflation and the dollar. Mr. Paulson, known for his lucrative bet against mortgages a few years ago, told investors he still has most of his personal money in gold-denominated funds operated by Paulson & Co.
Mr. Paulson told investors Tuesday morning that gold prices could go as high as $4,000 an ounce over the next three to five years, as the U.S. and U.K. flood the money supply. Gold settled in New York at $1,540.10 a troy ounce Tuesday.
Also, Wexford, run by Robert Rubin's right hand man from the Goldman arb desk days, and Mike Steinhardt protege, Chuck Davidson, doesn't appear to be going anywhere in a hurry either.
Wexford Capital, a $6.5 billion fund that has been a large buyer of silver over the past year, retains much of its metal positions, according to someone close to the matter.
Either way, a two day 20% correction, and everyone crawls out of the woodwork screaming bloody murder, even as silver has retraced to a price... from two weeks ago.
And once again we ask: will the Chairsatan stop printing? And what happens when the economy tumbles in Q2, as it will once the full hit from the Japanese economic collapse is felt, and Bernanke has no choice but to do in 2011 what he did in 2010? So yes, let silver drop to $30. Let it plunge to $20. The lower the better. Day traders on margin are advised to stay out. Everyone else, who has a personal vendetta with Bernanke however will find each incremental drop an even better opportunity to slam the stake in the heart of a failed monetary regime which is now in its last days.
Everything else is minute charts and irrelevant candles.
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Don't confuse formal education with intelligence.
Braack has an Ivy League diploma. I think you smarter than him and maybe Bush, too.
You're at an advantage not having to undo all the brainwashing.
If I see him dump his high stake in Nova Gold then I will start worrying.
I have a JET to catch.
I hope she is selling her gold! I want that bitchezzz gold worse than any other! What a waste of good oxygen and food! Her bars are full of tungsten, just like her.
Wouldn't it be safer to trust Soros et al. to have called on their "Authorized participants" Friends to redeem their ETF shares for physical ?
So in the end, the "sale" would in effect be "barter" for "real money" ?
It's just up to us to BELIEVE
I think its time to let it go, the silver topic. All these zillion details are meaningless. For 1 year. Focus on gold until 50/60:1 ratio is restored. Then gold will enter bubble territory for a short time as ratio goes over 60. Buy silver at 30, and live happily. Do not sell physical, it may double to 100 in 1 year, but be aware that silver and gold in bank vaults may be confiscated at some ridiculous nominal value if the USA defaults and/or needs to move to a gold standard.
At this point, 41,24. Here we go again. Silver is crashing to 30, during May: (the chart is so old (March 13th) and bit off in timing, its already boring, but its still valid-and it shows what will happen next-oscillations for 6 months- buy in bottoms):
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&sta...
My advice about confiscation:
Do not buy any government minted coins. They may claim some sort of bogus authority over those coins due to them being the manufacturers.
Do not buy silver or gold coins. It is also best to not buy silver or gold rounds (just in case). The smartest move is to buy [1oz to 1kg] silver and gold bars. These cannot be mandated to be "coins that might be mistaken for legal tender", which is a scam the feds are preparing, especially after the latest fraudulant LibertyDollar court case.
I think it is wise to have 90% gold and 10% silver, even though silver has better theoretical potential... unless you have strong speculator inclinations or genes.
If they confiscate government minted coins, then coins, you think they'll stop there and won't confiscate bars? I don't know. My guess is if they start confiscating, stuff will get real hot, real quick.
confiscation is tantamount to the admission of a global prison system.
us confiscation would precipitate an international dollar run.
so it would have to be global. unlikely scenario.
Tell that to the people of the USSA in 1933 when the federal government stole all gold coins in circulation.
And they were a more liberty-oriented bunch of folks than the masses of sheople are today.
But your premise is correct, we already live in a global prison system, one that is worse than overt, classical slavery. At least in old-time slavery you got a place to live and food. Today we must pay for our own slave housing and food and other expenses to keep us capable to serve them (do their work, pay protection money to them (taxes), etc).
There is an international dollar run. Open your eyes. It just isn't quite near panic level yet.
It doesn't need to be global, but will likely apply to the whole western world. I expect China and other asian countries will refuse to go along, however, because it is in their (government) interest for their people to accumulate real wealth (in the short and medium term at least... until the west implodes).
Whether the western governments attempt confiscation again is uncertain. There is one big difference from last time, however. Back then, everyone had gold coins (those coins were their regular old everyday "money"). Today a large percentage of people who have gold or silver are liberty advocates who hate government now, and would hate them even more given confiscation. Therefore the government would not get much of the gold or silver bullion. People would say "I don't have any [any more]", or whatever they had to say. Most would not turn it in.
The only solution to the global prison system, which already exists today, is a massive riot AKA revolution.
For those with little available to invest,
pre-1964 coins are best.
Gubmint confiscation is up to the gubmint to enforce, n'est ce pas?
ivars,
Agreed.
Unless a major SWAN (unexpected)hits,I see the same scenario coming.
Call this a simultaneous double head fake.
Several high profile rich guys are selling paper silver and gold... in order to generate cash to ... buy physical silver and gold.
These guys know what the masses better figure out soon - paper and physical prices will diverge substantially... and then the fiat, fake, fraud, fiction, fantasy, fractional-reserve paper silver and gold vehicles will begin to default. This will push physical silver and gold much higher, and crash paper silver and gold.
Look out below, paper lovers. Get out of paper and into physical while you can. I just bought a whole slew of 10 ounce physical silver bars 30 minutes ago at just a few cents over $41. What a freaking deal.
These guys know what the masses better figure out soon...
$50 is an important psychological level. Must be contained. Hence, bin Laden brouhahah and soros blah blah blah.
Scores of silver-reaching-the-top talk in weekend articles. Coordinated takedown, bitchez.
BTF D.
You have the right idea, but I think you missed the first step.
Somebody at the whitehouse screwed up. They accidentally released the wrong birth certificate file. They released the "working copy" of the PDF file which has multiple layers and proves beyond any reasonable doubt that it is a total fake, they committed fraud, and Obama is an illegal alien and not president.
When tens of thousand of people with experience with Adobe and PDF software inspected the PDF file and determined this certain fact, that's when they manufactured the news stories.
#1: Osama Bin Laden (saves Obama).
#2: The silver [and gold] smashdown.
The second story is more effective than it might seem, because the people who are "hard money" oriented are the same people who suspect Obama and government of endless frauds.
Expect as many more big stories to be manufactured by the predators-that-be as necessary to make the birth certificate fraud story become old news and vanish in the mainstream media. Sadly, even the alternative media has been suckered into going silent on the really big story... Obama proves himself an illegal alien and non-president.
Don't forget the big story. He must be arrested and removed.
Please George sell all your PHYSICAL silver
I have an army of friends who would love to take that load off your hands!
Ozzie Scott
Funny story about Soros from way back, why senior traders did not last long in his firm (don't know about recent years): when George was traveling the world on charity and conferences etc, he would call his office/trading floor and ask what the futures levels were. Well, obviously you can't let him talk to the junior execution monkeys so senior guys would have to pick up the line and give him the levels. This did piss off so many senior traders, having had to do basic stuff, they wouldn't stick along for long.
That sounds dumb. Whatever i thought of my boss (and whatever you think of Emperor Palpatine) if he calls up and asks for something simple , quick and easy and doesnt call me a cnut in the process , why am i going to get sand in my vagina over that? Even if i was super-senior-dickswinger on the trading desk. Talk about little Neros.
I must admit, in 50 years I have NEVER heard the retort "sand in my vagina" I commend you on your awesome command of the english language, you ma'am are a cunning linguist
Test of loyalty and his total arrogance. Would a trader do it? And how long could George demean them? They must come a dime a dozen to want to maintain such a burn rate..
I thought Soros bought bubbles? That is at least what he said.
Gold! Sure feels good to have real money outside the system. And yes, my son will get it all when I am gone, and carrying on. What could one possible sell it for. Not fiat for sure.
Yup. In fact one of the most wonderful things about physical silver and gold is... we can exchange it for goods whenever we wish. Try that with stocks, bonds, paper-silver, paper-gold, and other paper investments.
We have now reached the point where we can find people or companies to exchange 90% of the goods we want for our silver or gold bars or coins. Beats the crap out of other assets.
1. My best friend from middle school through college, a Hungarian (1950's child expat escaping communism), taught me all I need to know about Soros and his ilk. Very graceful translation: "Be very, very careful."
2. Slightly less graceful translation: if George is parroting his moves, believe the opposite.
3. How long was it after Georgie said "gold is in a bubble" before he started loading up?
4. Did you know you can rub on your physical as long as you want, and it's still 100% there when you're done?
5. BTFD bitchez!
France has upheld a conviction for George Soros for felony insider trading. Hungary has fined George Soros for "illegal market manipulation." George Soros broke the Bank of England. George Soros tried to collapse the economies of Russia, Malaysia and Thailand. Now George Soros has gained political and economical control in America. So why are we letting this man gain control of our food industry? U.S. grain firm Gavilon Grain said on Thursday it will buy Union Elevator and Warehouse's 16 grain elevators in the Pacific Northwest , the company's second big purchase of U.S. grain facilities in the last six months. The PNW is the No. 1 wheat export terminal in the United States. The purchase of 16 elevators at 12 locations in eastern Washington will expand Gavilon's grain capacity by 8.4 mbu.
A report from Reuters states that the acquisition should be completed by the second quarter of 2011. After this, we can expect our food industry run on the same standards as our energy industry. Oil is controlled by just a few companies, which dictate price based on artificial control and imaginary speculation. We can NOT afford to see our food prices rise and fall based on whims and advantageous speculation. We can NOT allow the food industry to use global catastrophes as catalysts for profit like the oil industry does. We simply can NOT afford it. We are already seeing our food prices rise due to fuel costs. If George Soros takes out grain companies, and the number of providers decreases, we could see food prices rise even higher. When less people run the market, they can dictate prices based on greed, rather than supply and demand.
http://conservativeactionalerts.com/blog_post/show/2327
We cannot let George Soros and his gang of economy destroyers get a hold of our food supply. Please Fax Congress now and stop this man from ruining our country like he's ruined so many others. Although Soros doesn’t (yet) own the Republican Party, like he does the Democrats, make no mistake, his tentacles are spread throughout the Republican Party as well.
Soros is a partner in the Carlyle Group where he has invested more than 100 million dollars. According to an article by “The Baltimore Chronicle’s” Alice Cherbonnier, the Carlye Group is run by “a veritable who’s who of former Republican leaders,” from CIA man Frank Carlucci, to CIA head [and ex-President] George Bush, Sr. In late 2006, Soros bought about 2 million shares of Halliburton, Dick Cheney’s old stomping grounds.
New choke points asserted on the public on to supply chain flows.
The Commodity Exchange Act (CEA) directs the CFTC to prevent excessive speculation in the futures markets. Specifically, Section 4a(a) of the CEA requires the CFTC to establish and maintain “position limits” on commodity traders to prevent the undue burden on interstate commerce that results from “sudden or unreasonable fluctuations or unwarranted changes” in the price of a commodity caused by excessive speculation. Pursuant to this statutory mandate, the CFTC has established position limits for the agricultural commodities traded on futures markets such as wheat, corn, oats, and soybeans. These position limits specify the maximum number of outstanding futures contracts that any single trader can hold at any particular time.
Soros is a pig.
And, as for this;
" Please Fax Congress now and stop this man from ruining our country like he's ruined so many others. "
They are/have done the job better than he ever could all on their own.
"......Radioshack LBO speculation....."
Classic.
Is Qeasing related to Queefing by chance?
I don't have much in the way of available cashflow, but given some maintained lines of credit, who do you trust in buying bullion from? Interested in gold and silver. I figure, run up the cards and make minimum payments until the whole thing implodes, with physical in my hands. Not a bad bet, eh?
I'm serious, I'd like to know who you think is best to deal with. Talking about small numbers, but $6,000 should do something for me, I'd think.
I use Blanchards. They have been very affordable and are local to me. They also have a good reputation.
I strongly suggest that you find a major seller, and not an unknown. You also might want to stage in, so if something goes wrong, you don't lose your whole stake.
Don't store it all in one place either.
Depends on the interest rates your paying on those lines(while you wait for implosion).
Debt is something you do not want to take on, unlesss you have no intent of paying it back.
too weak of a heart to look at the silver chart today, where is my scotch!!!!!!!!!!!!!!!!
Please give me the dip to 8$ again,and i`ll buy it by the ton.....
Lol...good call...It's always 5 a.m. somewhere!
"Mr. Anderson has argued that by the end of this year the Fed will signal that interest-rate increases are in the offing, possibly early in 2012, according to someone close to the firm."
This is like the bus driver shouting "I'm just about to put the brakes on" as the front wheel of the bus goes over the cliff edge.
They really don't have a clue how dangerous this all is, if the dollar makes it to 2012 - what sort of panic interest rate rises will there be? Are we talking 5%, 10% or 20%? By that stage the inflation (which the FED has dismissed as being 'real') will be burning holes in growth - whacking up interest rates is unlikely to calm inflation and the rises could damage business more than the inflation.
Alternatively they leave the rates and let inflation ride - to Wiemar.
The FED simply don't have the skill of experience to steer the economy through this incredibley narrow passage of safety (I'm not sure anyone has to be honest). The damage has already been done - now we're just looking at "how many will survive" rather than "can we avoid an accident"
At the moment I cannot see Bernanke NOT going for QE3 - the growth is slowing and the unemployment will undoubtebly be worse this week and we know how panicky the FED are about deflation.
....in fact - if you compare the USA to Germany both are acting in a manner which their own Economic history dictates - Germany fears inflation like the plague and would probably ditch the Euro than have another Wiemar - but the US fear 'another great depression' and therefore refuse to consider deflation - instead opting for inflationary solutions instead.
If Soros says he is selling, then I assume he is buying having seen his disingenuous Kabuki before. It gets harder playing god when one becomes so transparent. Sadly, the Gestapo didn't teach him everything they knew about directing crowds to "death".
"Mr. Anderson has argued that by the end of this year the Fed will signal that interest-rate increases are in the offing, possibly early in 2012, according to someone close to the firm."
That would be nice to see Braack run against the background of depression and deflation. And all those lovely Middle-Class stock market gains wiped out destroying whatever is left of the Middle. I can here the campaign slogan now: "Save us Daddy Barack", "Only You can Save us"! "Tarry not on the ninth tee, Barack, but hie thee to DC, your people need you now. That horrible Bush still walks the earth destroying us!" Yes, what a race that would be.
Broke won't be running. They will wheel Hillary in his place for 2012.
Sorry, I belched.
you guys haven't even contacted the ny fed
you guys haven't even contacted the ny fed
you guys haven't even contacted the ny fed
you guys haven't even contacted the ny fed nor have you contacted your congressman
Oh yes, because major players always telegraph their trades through the Wall Street Journal.
Don't let the price get you down, we are about halfway done the correction IMO.
It was a HUGE run up, so it is possible to hit even the $20's. But I wouldn't hold back from buying in the low $30's.
No I'm thinking the SLV and GLD etf's will go to 0. I'd get your 5 dollar puts loaded up for july.
Nobody likes a sore loser.
Don't sweat it. I'm totally faking my losing.
No, it is not a fake.
See. It's working. You sincerely doubt my insincerity.
I'm totally faking it. You are recieving countefeit win.
I never would have thought Charlie Sheen was here. But apparently I've found him.
No. I'm charles barkely playing charlie sheen. Laying down a turrible turrible turrible bi-win.
I'm 40 chuck layers deep in your ass.
http://www.youtube.com/watch?v=xerMz8aqTn4
Whatever you say cupcake. Your balance sheet is a wreck right now, while mine is greener than your wife's cranston.
Ya but your balance sheet is just a bloody tampon.
I am hoping silver drops and finds support around 32.
I will buy mine at spotmex
btfd
I wanted to forward Stewart Thompson's latest commentary.
For those newbies around here 321gold.com is an essential site for you if you are interested in PM's. (Sorry Tyler, just trying to further educate people and give them soem resources in their fight against Blythe.)
I talk to him at every gold/silver show. He is a wealth of info and a muyst bookmark if you are serious about PM's
It's run by Bob Moriority, the crustiest curmudgeon of them all. He is abrasive, tough, and downright surly at times. But he called the silver top two weeks ago as he always does. He hasn't missed a call in long long time. 2008 but who didn't miss that one
One guy who comments there every Tuesday is Stewart
Highly worth a read every Tuesday.
http://www.321gold.com/editorials/thomson_s/thomson_s_050311.html
happy trading and PM accumulation
Just how is this all going to end for the USA? What choice do they have. Can they stop printing? Will they have to print until the USD goes critical?
Rough figures....
GDP $14.7 Trillion
DEBT $14.4 Trillion $129k per taxpayer
SPENDING $3.5 Trillion
REVENUE $2.1 Trillion
DEFICIT $1.4 Trillion
US DEBT HELD BY FOREIGN COUNTRIES $4.8 Trillion
INTERST ON DEBT $207 Billion
US TRADE DEFICIT $679 Billion
PERSONAL DEBT $16.1 Trillion $52k per citizen
OFFICIAL UNEMPLOYED 13.3 Million
ACTUAL UNEMPLOYED 23.8 Million
PEOPLE ON FOOD STAMPS 44.4 Million
Stop printing and slash spending and put deficit into reverse.....crash the economy, new record unemployment levels and numbers on food stamps. Critical mass reached for civil unrest.
Keep printing expand the balloon until it burst into hyperinflation. Extend and pretend until you can no more.
Even with some austerity BB has to keep printing, that is a massive deficit. AND interest rates?
You might worry about the gap between $45 and $40 silver now but in the longer term it will seem insignificant one might think. Not to mention that the naked shorters have no silver and are desperately shaking the tree....with the aid of systemically corrupt CFTC
I would go with Soros. The guy has a perfect record in his public pronouncements.
I have no idea where all the other smart speculators get their information about Soros' intentions. As far I can surmise,
Soros moves are contrarian in nature and aimed to profit from Ponzi speculators.
thanks for the list.
but you're overlooking a simple solution: WEAN the Big Boys off their FREE MONEY from Fed... CUT OUT the loan-sharking MIDDLE-MEN, and have the USG __directly finance_ future spending, EFFECIENTLY and for things that are NEEDED (infrastructure repairs) and NOT for FAKE "profits" on Wall St. !!
That's what we basically had during WWII: while the whole Fed, NY loan-shark (big banks) structure was in place during the war, their PROFITS were STRICTLY, RIGGIDLY CONTROLLED, because, you know, there was a life-and-death war going on with the very survival of the state at risk.
I've heard that JP Morgan, which administers food stamps, takes a 50-cent cut of EVERY DOLLAR they send out!! f*** them, the traitorous, economy-gutting parasites!
(in defense of the "Big Boy" financial parasites, they are performing the natural world function of PREDATION - weeding out the weak & vulnerable - which, in a way, gives us that 50% CUSHION, we COULD ExpAND food stamps by exactly the 50% that JPM is raking of the top, without costing a dime, just by eliminating their "profit" cut!)
(Indeed, IMHO THE BIGGEST crime of The Big Boys isn't technically even a crime! - in order to support the greed-and-grab media DISINFORMATION regime, they, TPTB, support the Big, Organized (and thus radical right-wing) religions (plural, all of them) JIHAD against birth control, family planning, reproductive health rights, etc.
Given the TECHNOLOGICAL GENIE of modern technology, we COULD have a reasonable level of comfort and financial security worldwide, but TPTB WANT mass confusion, chaos, and overpopulation (and...wars & mass destruction & murder).
(Like the Roman elite stealing the pensions & farms of retired Roman soldiers' families, marking the inexorable decline of the Roman empire.)
Try getting the smile off the faces of those who keep the real stuff in the upcoming years.
Premiums at my favorite dealers are up up up and at one I checked, none to be had, backorder end of May.
Ranges at goldshark with an order of 40 from $45.10 [Bullion Direct] to $49.57 [Kitco].
Provident $47.02 backorder, APMEX $47.99 backorder.
My point is not that there is no silver, it is that the 'gold standard' of 1 TOZ coins is OUT OF STOCK DUE TO DEMAND.
Premiums are up, they have none to ship, but spot price has dropped like a rock.
Hold physical, dump paper like the big boys
dump and pump... Ben's recipe for the average man in PMs
Same Soros dumping rumors last year. All he did last time was trim his holdings back down to 10%. Not that I care what Soros does anyway. He thinks the SDR is a real viable currency.
What would be cool is actually being able to get some silver at $41.
Nice. I agree. Once people get past their preconceptions about economics and political parties, it is quite easy to see the entire U.S. economy and political system runs on bullshit.
Soros is as trustworthy as he is goodlooking.
Three points:
- Physical silver is in extremely short supply (as is platinum)
- The history of fiat currencies is well know (none survived). We are clearly in an era where that is happening at ALL fiat currencies simultaneously
- Read FOFOA and Armstrong. They clearly explain we are experiencing the demise of "western socialism" and why this will force precious metals (gold and silver in particular) to rise to unimaginable levels
The rest is noise.
lets dump some gold, a ton or so, on george soros...
from 10 feet.
the fucker is probably buying more with his other hand.
Can I just say one thing....
Fuck George Soros...if that greedy piece of shit is saying to do something...you will most likely do well by doing the exact opposite.
Disgusting Euro-Trash motherfucker.... hahahaha
+1
Made a chart prediction of coming gold bubble and its relatively modest (25%) correction before returning to 2000 USD reached in peak:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=32176#p32176
Feel free to object based on rational or irrational grounds. There is still time both to join the move up, and to jump the ship at the peak ( October 2011).
If Soros is selling, he's selling shares in SPDR in order to redeem for physical Gold. This is actually extremely bullish, suggesting as it does that access to physical is starting to dry up for even the wealthiest. (Redeeming SPDR shares for physical requires selling a minimum of a basket of shares, costing a cool $15+million)
What is the best way to scare people away from silver? LOL
The best way to do it to make people believe this is the replay of 1980. hahahahahaha. OMG not hunt brother again!!!!!! Can you imagin what psychological pressue will this work on sheeples?
It strikes me that, if a smart guy like Georgi was selling, he'd be done by now. He has 11 tonnes. He would not announce it unless he had another motive, like this coordinated attack. Or is he just pushing paper and making it sound more dire than it is?