Soros says gold "isn't safe"

gold is just a peice of rock.. barbarians invaded Rome for gold.

gold as a currency or storage of value suck and 'retarded' in this modern era or in modern finance.

it was the only form of currency for international trade prior to 1945.


Quote from intradaybill:

He will tell you that gold is not safe when it is going up and then tell you that it is the best investment when it is going to fall. If you cannot figure out why, you do not know anything.
More...
 
Quote from jficquette:

So Soros is short. Just do the opposite of what thieves like him suggest.
More...
Actually he is heavily long in GLD, he just said gold is in the "ultimate bubble" and not safe. Confused?
 
Quote from tmarket:

Soros says gold "isn't safe"

Billionaire financier George Soros says that gold prices may continue to rise but warns that it's not a safe bet.
Sept. 15 - In an exclusive interview with Chrystia Freeland, George Soros says that while gold may go higher it is the ''ultimate bubble.''

(Reuters) - Billionaire financier George Soros said on Wednesday that gold prices might continue to rise after hitting record highs this week, but he renewed a warning that gold is the "ultimate bubble."

With economic and fiscal weakness crimping the developed world, Soros said all investments are at risk because "this is a period of great uncertainty, so nothing is very safe."

Regarding gold, he said that after asset classes set new highs, there are almost always immediate reversals that disappoint investors. Soros' hedge fund, Soros Fund Management LLC, has been heavily invested in gold and gold-mining companies.

"Gold is the only actual bull market currently. It just made a new high yesterday. In the present circumstances that may continue," he said at a Reuters Newsmaker event.

"I called gold the ultimate bubble, which means it may go higher. But it's certainly not safe and it's not going to last forever," he said.

Soros made the "ultimate bubble comment" in January at the World Economic Forum in Davos, Switzerland. He no longer is involved in management of his hedge fund.
More...
And president Warren Buffett says it's useless. I agree.

Besides, unlike stocks which give you at least some modest dividend income; you have to PAY to get it stored (and guarded).
You have to pay to get your money in gold, instead of being paid.
 
Quote from tmarket:

Actually he is heavily long in GLD, he just said gold is in the "ultimate bubble" and not safe. Confused?
More...

Soros: "markets are inherently unstable". I suppose that would apply to Soros' comments on gold also. He speaks in riddles wrapped in enigma.
 
Quote from Ghost of Cutten:

The same nonsense around internet stocks lasted from about 1997 to 2001. During that period the nasdaq soared multiples and then crashed over 50%. So, background bullish enthusiasm can co-exist with the final years of a speculative bubble - after all, an asset popular with the public can hardly rally massively after a multi-year bull run *without* there being a lot of speculation developing around it.

I agree we are starting to see signs of speculation, but I think it's in the early stages. When gold finally tops you will see public participation that will make the current drips and drabs look like nothing.
More...

There is nothing "speculative" about an unprecedented monetary base, deficit, national debt, and a soon-recovered American consumer. Do the math, and you'll understand there's a lot more to Gold 1300$ than merely specs. You don't think CB's desperately tried to sell GLD under 1K to assuage inflationary concerns? They tried, and China and India bought it up. Happily. Gold has nowhere to go but up. We crash to the '09 lows and Bernackes precious Wallstreet Bankers get axed. You think he's gonna let that happen?? We're boxed-in. Upside will happen. Just a matter of time. But GLD under expansionary credit is somehow bearish?!?! LOL
 
a gang invades the territory in an old western,a bunch of old hollywood actors come in and cut them down, that scenario will play out in gold
 
Gold and silver continue to lack sellers during a period where the markets are bullish during stock market rallies. This is a bubble getting ready to burst. The vertical momentum of this rally has increased, which is what is necessary to create sellers. Look at a straight near term put play in either market to capitalize on a volatility spike to the downside. Copper is a strong short.

James Mound
 
Quote from ammo:

a gang invades the territory in an old western,a bunch of old hollywood actors come in and cut them down, that scenario will play out in gold
More...

Eventually, it will. Anytime soon would be a bad bet, imo.
 
You must log in or register to reply here.
Back
Top