Goldman Sachs has achieved a dubious reputation for telling their customers (muppets) to buy one thing, while at the same time, selling it with their own money. This duplicitous investing scheme is the cornerstone of the investment banking system, and in complete opposition to what big money is doing.
To know what the successful investors and countries are doing amidst the babbling rhetoric of CNBC talking heads and so many so-called experts, all one has to do is look towards the East, and to the holdings of one George Soros for future direction. Both of these entities are buying gold, even as businesses news sources continue to downplay the precious metal known as real money to prop up the dying dollar and U.S. economic system.
An important positive development for the gold market is billionaire financiers George Soros and John Paulson have again increased their allocations to gold as seen in the latest SEC filings.
George Soros more than doubled his shares in the SPDR gold trust ETF.
He increased his position in SPDR Gold to $137.3 million in the second quarter from $52 million previously. SEC filing for the second quarter showed Soros Fund Management more than doubled its investment in the SPDR Gold Trust from 319,550 shares to 884,400 shares at the end of June.
In September 2010 (see chart), Soros called gold "the ultimate bubble" and largely dumped his stake in the ETF before gold recorded annual gains in 2010 and 2011 and rose to a nominal high of $1,920.30 per ounce in September.
There was speculation at the time that he may have sold the SPDR trust in order to own far safer allocated gold bars.
Another billionaire investor respected for his financial acumen is John Paulson and Paulson & Co increased its holdings by 26% by purchasing an additional 4.53 million shares of the SPDR Gold Trust to bring entire holding to 21.8 million shares. - Goldcore
From: Number Sleuth
The life cycle of any currency in the history of mankind is around 40 years. We are now into the 41st year of the complete fiat back dollar, and the world is preparing for its eventual demise. China, the BRIC nations, and Russia are all creating trade agreements in currencies other than the dollar. In fact, the primary reason for the U.S. intervening in Libya and Iran was their move away from the petro dollar and U.S. hegomony.