George Soros Euro Collapse
Although George Soros speaks out of both sides of his mouth, as evidenced by his remarks that gold is in a bubble while he had recently invested millions into the metal, he still is interesting to listen to, as you know whether he's speaking the truth or not, that he is interested in what he's talking about, and that's the case with his recent comments that the euro may not survive and be in danger of a total collapse.
One thing you can be sure of from the comments of Soros is he has a stake in the euro, or he wouldn't be talking about it.
Soros says the euro may not survive just from the sovereign risk threat from Greece, although many think the PIIGS overall are much more of a risk than if Greece itself only collapsed. The pigs are Portugal, Ireland, Italy, Greece and Spain.
Many think the euro could survive a collapse of Greece, but a collapse of some of the other countries at the same time, or near the same time, would probably be the end of the European union and the euro.
Soros obviously is attempting to influence the markets to his investment advantage; not the first time he's tried and succeeded at doing it.
George Soros Euro Collapse
3 comments:
Soros says that gold is in a bubble thinking he can drive the price down and buy it cheaper.
He knows that all major currencies are in big trouble.
His big mistake could be that there is no physical gold in the etf where he's putting his money.
I read an article where the gold etf he bought cannot report where they are acquiring their gold.
Their only proof of owning physical gold is a list of serial numbers, something Madoff could have written.
the whole gold thing is obvious in that it doesn't matter if there is physical gold in the etf he will be looking to buy Euros when the selling has been overcooked and everyone is desperate to buy his gold !!!
Gold's a bubble because from reports it looks like a lot of the reserves are tungsten bars with a gold coating.
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