And the saga rolls on. When measured in dog years it was just days ago when George Soros said gold was the ultimate bubble. Now he's back at it. Like a dog who keeps trying to bite the tires off a passing car, George is chasing Gold again.
According to a recent Bloomberg report, Soros Fund Management added 884,000 shares of SPDR Gold Trust to its portfolio. Not to be outdone, fellow billionaire John Paulson of Paulson and Company, assumed the role of alpha male and increased his fund holdings to 21.8 million shares.
All the while, the pack, the average investor, is being hit here and there with snide little comments suggesting gold has seen better days. The economy is recovering, jobs are plentiful, even housing is bouncing higher and higher off its bottom. And Europe? Fagget it! It's all better now. If we don't talk about it, the problem goes away. In fear of losing hard-earned savings, the pack has fled gold and moved back in the direction of stocks, bonds and housing.
Then there's those darn billionaires who now run in the opposite direction of the pack. They tell you gold is a bubble so you sell and just when you think you moved ahead of the pack, you learn the really smart money, the big dogs, are buying all the gold you sold. Is the you-know-what about to hit the fan again?
The last crisis struck without warning. No financial channel was there predicting it, no politicians were there warning us and certainly no bankers came forward to signal the end of civilization. Yet, we came so close to the end of financial life, the knees of those begging for bailouts were starting to bleed.
Wake up America! The big money knows something and the even bigger money, the central banks of the world, knew first. Central banks are not buying gold because they think the paper money they print is safe. On the contrary, they know the more they print the less their paper money is worth.
So, what's your next move? Are you going to run with the big dogs or hang with the pack. The choice is yours.
Submitted by Lear Capital - The Most Trusted Name in Gold