Soros Goes For The Gold

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.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly 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.

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…

http://www.shtfplan.com/headline-news/report-soros-unloads-all-investments-in-major-financial-stocks-invests-over-100-million-in-gold_08162012

Comments

  1. One of the 99% says:

    Thoughts on this latest development? Is Soros wrong for exiting his positions?

  2. Only Soros can say what’s good for Soros. However, with central banks buying more and more precious metals and most governments debasing their currencies, I have to view PMs as the place to be for me. Soros was apparently a small player in GLD.

    http://www.demeadville.com/160213_The_Gold_Update.html

  3. I read the newspaper and watch TV news to see what they are saying, not to get the truth. I suspect many others do the same.

Speak Your Mind