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When a major global player with direct ties to the White House, Wall Street,
and the banking system starts off-loading stocks and starts stacking gold, it suggests a very serious market move is set to happen – and that is just what George Soros has done according to his latest 13-F report filing. [Should we buy more gold too?] Words: 484
So says Marc Slavo (www.shtfplan.com) in edited excerpts from his original post*.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Slavo goes on to say, in part:
In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012 – and bought $130 million dollars worth of gold via the SPDR Gold Trust (GLD).
Soros, who manages funds through various accounts in the U.S. and the Cayman Islands, has unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.
What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.
If there’s anyone with an inside track of where things are headed next, it’s Soros, [so it begs the question, “What’s up?”]
Soros, who has written extensively of a coming global paradigm shift in his book The Crash of 2008 and What It Means, calling the current economic and political model ”an end of an era,” has recently suggested that:
- the financial and economic situation across the world is so serious that Europe could soon descend into chaos and conflict,
- the world is entering “one of the most dangerous periods in modern history”, and
- violent riots in America and a brutal clamp-down by the government will dramatically curtail civil liberties in the near future.
This is an individual who not only:
- predicted the collapse of 2008,
- took action to insulate himself, and
- proposed the various fixes that governments in Europe and the US would eventually implement in order to stave off a deflationary depression.
In his above mentioned book he:
- suggested that central banks infuse the system with massive amounts of monetary expansion, but also
- warned that not injecting enough money would simply extend the onset of deflation and printing too much could lead to hyperinflationary currency collapse.
Based on recent activity in Soros’ US held accounts, it seems that governments and central banks have failed at those efforts to stabilize the system. As such, Soros is getting out of those companies which are most at risk should the financial system buckle like it did in 2008 and he’s shifting his assets into what may be the only asset class left standing when it’s all said and done – gold.
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*http://www.shtfplan.com/headline-news/report-soros-unloads-all-investments-in-major-financial-stocks-invests-over-100-million-in-gold_08162012 (To access the above article please copy the URL and paste it into your browser.)
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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I think he should change his name to $ORO$
He has taken a great Gold position, but I wonder what percentage of his total wealth it really is?