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Soros Unloads Substantial Gold Holdings

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http://finance.yahoo.com/news/What-George-Soros-Bought-and-cnbc-129797954.html;_ylt=AlpHkD9I1IOvxX_PptajlMe7YWsA;_ylu=X3oDMTE1c2dhcHEzBHBvcwM2BHNlYwN0b3BTdG9yaWVzBHNsawN3aGF0c29yb3Nib3U-?x=0&sec=topStories&pos=4&asset=&ccode=

On Tuesday May 18, 2010, 12:33 pm EDT
Billionaire investor George Soros, chairman of Soros Fund Management, detailed his fund's actions in the first quarter of the year in an SEC filing on Monday.
Following are the investments he made and sold in the
first three months of 2010
:*
His fund cut its stake in SPDR Gold Trust (NASDAQ: gld) by 9.6 percent

Perhaps he sold to buy physical? Or to spook the market so it drops so he can buy more cheaper? Maybe to avoid too much tax on the eventual sale so better to sell now and keep the profits manageable? Or............................................

________________________________

*When will we know how much he sold in the 2nd Q?

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http://finance.yahoo...4&asset=&ccode=

On Tuesday May 18, 2010, 12:33 pm EDT
Billionaire investor George Soros, chairman of Soros Fund Management, detailed his fund's actions in the first quarter of the year in an SEC filing on Monday.
Following are the investments he made and sold in the
first three months of 2010
:*
His fund cut its stake in SPDR Gold Trust (NASDAQ: gld) by 9.6 percent

Perhaps he sold to buy physical? Or to spook the market so it drops so he can buy more cheaper? Maybe to avoid too much tax on the eventual sale so better to sell now and keep the profits manageable? Or............................................

______________________________

*When will we know how much he sold in the 2nd Q?

How about this.

As no oil producing country has EVER declared it's true 'known' reserves (therefore oil prices are pure speculation and manipulation of countries/populations economies) >>>

They are going to finally declare that all USA's Gold was used up in Vietnam War paying off the ordinance producers and "Fort Knox" is empty?

"In the 1970's a very courageous gentleman named Edward Durrell claimed that substantially all of the US Gold Reserve being stored at Ft. Knox was gone." :D

Edited by erranta

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are you saying next move down to $300?

why you're so obscessed with gold ? missed the boat?

Edited by DisQ

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Presume he'll be buying physical mainly now; getting ready for the rise to $5000+ in the next few years.

9.6%?

a tweak.

that said I'm sure a glod correction is in the offing. Nothing major mind.

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9.6%?

a tweak.

that said I'm sure a glod correction is in the offing. Nothing major mind.

so not $300 then, as RB said.

damn I was thinking of buying a couple of ounces,

I did miss the boat.

Edited by DisQ

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Anyone here follow Charles Nenner? He's expecting gold to be OK to the end of May or so, and then to drop to as low as $700 by November-ish, then climb to over $2000 in the following years.

The only way that could happen, in my opinion, is another ca. 10/2008 liquidity crisis. Maybe this is what Soros is anticipating.

I'll be watching...

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Fat fingers?

Fat thinking...

What is the alternative - the pounds with a 0.5 percent return 5 percent official inflation and 10-20 percent actual inflation?

Any saver will start to move to gold - for default and inflation protection. Once large pension funds start to do and and the ordinary man in the street remembers saving in "sovs" there will be a step change up in value.

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Fat thinking...

What is the alternative - the pounds with a 0.5 percent return 5 percent official inflation and 10-20 percent actual inflation?

Any saver will start to move to gold - for default and inflation protection. Once large pension funds start to do and and the ordinary man in the street remembers saving in "sovs" there will be a step change up in value.

alas, the man in the steet is already priced out of the gold game. But, if he brushes up on his history he will discover that oranges are not the only fruit.

Add a sprinkling of injinomics into the mix, and he may determine himself what new fruits are waiting to be discovered

Edited by p.p.

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Any saver will start to move to gold - for default and inflation protection. Once large pension funds start to do and and the ordinary man in the street remembers saving in "sovs" there will be a step change up in value.

except these pension funds can't all hold gold without fear of default - there isn't enough.

and even if they could, that simply creates - deflation.

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alas, the man in the steet is already priced out of the gold game. But, if he brushes up on his history he will discover that oranges are not the only fruit.

Add a sprinkling of injinomics into the mix, and he may determine himself what new fruits are waiting to be discovered

OPALS?

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except these pension funds can't all hold gold without fear of default - there isn't enough.

and even if they could, that simply creates - deflation.

They can all hold a portion of assets in gold - the price will just go very high.

Why would that create deflation?

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