"History is a wonderful thing, if only it was true"

Saturday, May 21, 2011


This time, I agree with Soros - more risk than reward

FT.com / Commodities - Soros sharpens gold bubble debate:

Soros sharpens gold bubble debate
By Jack Farchy and James Mackintosh
Published: May 20 2011 19:20 | Last updated: May 20 2011 19:20
The ultimate asset bubble is gold . . . 

It may go higher but it’s certainly not safe and it’s not going to last forever . . . 

Gold has shown tendencies to go parabolic and usually bubbles tend to end in that parabolic rise before the collapse.

George Soros – who made the statements above at various points last year – has been one of gold’s most strident critics and also one of its largest investors.

In depth: Gold - May-20

Mexican central bank buys 100 tonnes of gold - May-04

Lex: Gold and the dollar - Apr-20

Gold pierces $1,500 to set fresh high - Apr-20

Gold hits fresh high on US debt warning - Apr-18

Global Overview: Investors seek out havens - Apr-15

But now the billionaire financier has dumped a large portion of his gold investments, according to regulatory filings released this week and people with knowledge of the fund’s activities."

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