Posted on 05/04/2011 6:32:50 AM PDT by SeekAndFind
John Paulson told a UK news show on Tuesday that gold is going to $4,000, reports WSJ.
Despite some recent gyrations in the precious metals arena -- more so on the silver side of things -- the prominent investor remains super-bullish for the next 3-5 years.
On the other hand, according to reporters Gregory Zuckman and Caroline Cui, Soros has been a seller of gold and silver lately.
What what's interesting is why: Soros no longer sees a big threat of deflation. Huh? Yes, while the average person may still think of gold as a bet to counter inflation, the metal obviously surged during the deflation scare, and the attendant raft of central bank easing moves. Those are clearly coming to an end (for now), and thus that theme is coming to an end.
(Excerpt) Read more at businessinsider.com ...
Soros has the financial ability to “dump then pump”. There’s no choice for Gold than up.
The gold "bubble" will burst long before the price gets to $4000.
Mr Paulson should consider a change in his meds....
If John Paulson is putting his money where his mouth is — going long on Gold while Soros is short, all I can say is one of them is going to be EVEN RICHER a few months from now, while the other will be POORER.
This theme on precious metals is still in tact.
Silver and Gold are correcting, and shaking out a lot of the speculative money in those trades.
When everyone wants to buy the same thing, chances are it’ll go down sooner or later. That happens with stock too.
As Mr Buffett says, buy when people are scared, sell when people are greedy.
Both metals may have more to go on the downside for now, but long term, with the dollar continuing to get crushed, silver and gold will probably resume their climb.
When? Who knows. :)
PS: Let’s be careful out there.
This theme on precious metals is still in tact.
Silver and Gold are correcting, and shaking out a lot of the speculative money in those trades.
When everyone wants to buy the same thing, chances are it’ll go down sooner or later. That happens with stock too.
As Mr Buffett says, buy when people are scared, sell when people are greedy.
Both metals may have more to go on the downside for now, but long term, with the dollar continuing to get crushed, silver and gold will probably resume their climb.
When? Who knows. :)
PS: Let’s be careful out there.
Ahhh,,,,that is what is going on. Soros buys and the market rushes uppppppppppp to an almost record level, then Soros sells and the market spirals down $7, meanwhile bankrupting numbers of people who jumped into the panic buying.
Soros will take his $5 profit, and run back in and buy at a lower level than he did previously and ride it back up the devaluation of the dollar that is coming. Then repeat. Doesnt Seal Team 6 know where he lives?
Forgive me the double post!
Paulson is new rich. Soros, evil as he is, has one helluva track record.
Soros can afford to play. It is standard operating proceedure for those types to run the price wayyyy up, then sell a huge amount short, and when the price spirals down out of control, buy back in on the low and pocket the margin. Tens of thousands are bankrupt, and Soros just made another billion. It is the name of the game. He is not betting his lunch money. This is the same thing that JPMorgan was betting on, except, the price did not fall as they hoped, it went up through their stock price and cost them a wad.
A couple of months ago we were at an auction and they had a fully documented painting that Malcom Forbes had bought at Sotheby’s for $90,000 and was being sold off by his estate. It went for $6000 plus commission. My wife asked why I didn’t bid when it was so cheap. My answer was that Malcom Forbes could afford to make a $90,000 mistake and I couldn’t. The same logic applies to Soros.
You’re exactly right. Many people will see Soros taking profits, panic and sell. Then he’ll turn around and buy. I hope that’s what’s happening.
What I don’t understand is why anyone would go out and buy anything just because some old muslim terrorist got killed. I doubt if this will make all the other terrorist say “We lost so let’s all go home and accept the infidels.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.