Tags: george | soros | gold | bubble

Soros' Comments on Gold Taken Out of Context

By    |   Thursday, 28 Jan 2010 03:19 PM

Many were worried about gold when George Soros, probably the greatest speculator in modern history, stated that “gold was an ultimate bubble.”

This came in a question-and-answer session when Soros said that a key in speculating was seeing a bubble forming — then participating in that bubble and getting out.

The press picked up on this quote but failed to look at the context.

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It was actually fairly reckless reporting, skewing the quote and showing it like Soros thinks gold is a bubble that will collapse.

Soros hardly ever tips his hand.

Did he mean that gold is a bubble now?

Is gold the ultimate bubble because of the emotion around gold?

Is gold becoming the ultimate bubble that will spike to dizzying heights — and Soros is going to buy to participate in this bubble?

If it is the case of the latter, he will want gold to decline, to buy on dips.

Again, we just do not know.

However, what we do know is there is little chance that the U.S. tackles the deficit in the short term and it will keep rates near zero for a long period of time.

To quote Marc Faber, as long as Mr. Bernanke, the money printer, and Mr. Obama, the money spender, are in power, the long-term trend of the dollar is lower.

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DavidSkarica
Many were worried about gold when George Soros, probably the greatest speculator in modern history, stated that gold was an ultimate bubble. This came in a question-and-answer session when Soros said that a key in speculating was seeing a bubble forming then...
george,soros,gold,bubble
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2010-19-28
Thursday, 28 Jan 2010 03:19 PM
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