Report: Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million In Gold


Report: Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million In Gold

Mac Slavo

SHTFPlan.com

August 16th, 2012

In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.

What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.

When a major global player with direct ties to the White House, Wall Street, and the banking system starts off-loading stocks and starts stacking gold, it suggests a very serious market move is set to happen.

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One Response to Report: Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million In Gold

  1. cromwell says:

    Zero Hedge had a marvellous guest piece on this and another two famous names doing the same. The comments were, as usual, hilarious. The main observation of the majority?
    When Soros does something and broadcasts it, do the opposite. He is buying paper gold.
    Only buy physical, and then silver. Gold will get you knocked on the head if folk think you have it. Silver is the choice for sensible folk.

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