Soros makes his mark again

[zinglicious]

The gold is being marked up and it may be due to Soros! http://gma.yahoo.com/blogs/abc-blogs...nvestment.html

[kuma]

Yeah! Probably buying up Fort Knox for his new wifey

Billionaire George Soros getting married for the third time Link



She's 40....he's 82 ....in this day and age.....Gold Talks

OK...puns aside....everyone should take note of his recent move....[probably, married part too ]

Here's what he told Newsweek earlier this year....Link

"I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

So it looks like he is following through with what he believes

BUT!....it is not just Soros who's buying up GOLD!

Says the World Gold Council, the volume of gold purchased by Central banks around world has sky rocketed for the 2nd Qtr of 2012. There's an increase of 63% from the first quarter of 2012 and a 138% increase from the second quarter of 2011."

To sum it up......Something Is Happening and probably soon

[kuma]

And....the Rush For Gold is unabated

China Is Looking Into Taking Over One Of Africa’s Biggest Gold Miners

Aug 16th: "Barrick Gold, the world's biggest gold producer, announced today that they are in talks to sell the 74 percent stake in its African mining business to China National Gold Group Corporation, a state-owned enterprise....."

Read more: Link

[CS Chua]

And....the Rush For Gold is unabated

China Is Looking Into Taking Over One Of Africa’s Biggest Gold Miners

Aug 16th: "Barrick Gold, the world's biggest gold producer, announced today that they are in talks to sell the 74 percent stake in its African mining business to China National Gold Group Corporation, a state-owned enterprise....."

Read more: Link

Sorry for being a pessimist but what I read elsewhere does not gel with you guys. http://www.ft.com/cms/s/0/1aa74e16-e...#axzz23m7WwXqo

Gold price falls as Asia purchases dwindle

By Javier Blas in London

Global demand for gold is seeing a significant slowdown as top consumers in India and China pare purchases amid weak economic growth, abruptly halting a consumption boom that started five years ago with the onset of the financial crisis.

The consumption slowdown is driving prices downward, denting the profitability of gold miners such as Barrick Gold of Canada and New York-listed Newmont, and hurting top hedge funds managers such as John Paulson and George Soros.

The World Gold Council, a lobby group for the gold miners, on Thursday said demand for the yellow metal fell to 990 tonnes during the second quarter, the lowest since the first quarter of 2010 and down 7 per cent from last year.

“India and China represent half of global gold consumption and clearly we are seeing a slowdown in both markets,” Marcus Grubb, managing director for investment at the London-based WGC, said in an interview.

Gold prices have fallen back to about $1,600 a troy ounce, down nearly 17 per cent from the all-time high of $1,920.30 an ounce set in September 2011. But prices remain significantly higher than five years ago, when the metal traded at about $650 an ounce. Since the first signs of the financial crisis emerged in mid-2007, corn, gold and oil have been the best performing assets.

[zinglicious]

Diamond is the girl's best friend while Gold is the woman's best mate.

By the time, George Soros made his mark with the disclosure that he is the masked man behind the Speculation geme, the fat lady is beginning to sing her song.

Ingenious shark speculators makes monies out of the school of fishes with greeds and fears.

[kuma]

Sorry for being a pessimist but what I read elsewhere does not gel with you guys.
Gold price falls as Asia purchases dwindle

By Javier Blas in London

Global demand for gold is seeing a significant slowdown as top consumers in India and China pare purchases amid weak economic growth, abruptly halting a consumption boom that started five years ago with the onset of the financial crisis.

The consumption slowdown is driving prices downward, denting the profitability of gold miners such as Barrick Gold of Canada and New York-listed Newmont, and hurting top hedge funds managers such as John Paulson and George Soros.

The World Gold Council, a lobby group for the gold miners, on Thursday said demand for the yellow metal fell to 990 tonnes during the second quarter, the lowest since the first quarter of 2010 and down 7 per cent from last year.

“India and China represent half of global gold consumption and clearly we are seeing a slowdown in both markets,” Marcus Grubb, managing director for investment at the London-based WGC, said in an interview.

Gold prices have fallen back to about $1,600 a troy ounce, down nearly 17 per cent from the all-time high of $1,920.30 an ounce set in September 2011. But prices remain significantly higher than five years ago, when the metal traded at about $650 an ounce. Since the first signs of the financial crisis emerged in mid-2007, corn, gold and oil have been the best performing assets.

You can only be pessimistic if you have chosen to believe the spin

One great asset that you require these days to be accepted as a "journalist" with a MSM is the art of Spin.....for the better you are able to spin, the greater is your value....there are still a ton of sheeple who only read one side of every story....

Here is the World Gold Council's Press Release Link

"Global gold demand in Q2 2012 was 990.0 tonnes (t), down 7% from the 1,065.8t in Q2 2011 according to the World Gold Council’s Gold Demand Trends report. This dip in demand was partly due to the comparison with exceptional demand last year, and also reflects the challenging global economic climate. In this context, gold performed as expected, acting as both a store of value and a source of liquidity."

Here is their Full Gold Demand Trends Q2 2012 Link to PDF

"Weaker demand from jewellery, investment, and tech sectors was offset by a surge of buying from the official sector"

Lastly - "Gold prices have fallen back to about $1,600"....it would be foolish to even think that the might of resources at the hands of people and companies associated with the likes of people like Paulson, Soros or even the Govt of China would buy in heavily into Gold at this point if there wasn't any good reason to do so

Gold is actually consider Cheap now....and a still good time to buy.

[okang]

Yes, Kuma. People like Soros, Jim Rogers & Paulson are not named legendary investors for nothing.
Of course they are on the opposite of the trade of Buffett

I still have some HK portfolios and maybe it is time to plan for exit (hopefully not stampede) after the interim result season.
In time of extremity, cash and hard asset still prevails.

[zinglicious]

Guys like Soros would take advantage if there are weakness in the system. If there is strong foundation, his efforts would be in vain.

Look at the currency crisis during the 90's. Was it because of TDM currency policy that stop the domino fall which plagued KL to Bangkok, Jakarta to Mnaila and HK? Nope, it was China who determined to do its part by not devaluing the currency. Otherwise, the whole region might take longer to make a comeback. It takes a Chinese Punch to kickass Zoros as China didnt blink at his masquarade

[kuma]

I still have some HK portfolios and maybe it is time to plan for exit (hopefully not stampede) after the interim result season.
In time of extremity, cash and hard asset still prevails.

You wrote: "In time of extremity,cash and hard asset still prevails".....not too sure on this....this time it may be different....some say 'all the norms of historical evidence' may not be relevant this time around.... quite frankly, nobody knows for sure as yet, our best bet is to seek 'information??' from both parties, be it the 'spin masters' and the 'truthers'.....and then, as Jim will say [in video below] make your 'own informed decision'.

So what this means is that for the 'supposedly' Coming Global Financial Crash....I feel, us 'small frys' still have to ponder how it will eventually all play out....make the right choice and hope for the best!

Since you mentioned Jim Rogers....his latest interview is a good listen...'Historic Shift Coming in 2013'

[kuma]

Guys like Soros would take advantage if there are weakness in the system. If there is strong foundation, his efforts would be in vain.

Look at the currency crisis during the 90's. Was it because of TDM currency policy that stop the domino fall which plagued KL to Bangkok, Jakarta to Mnaila and HK? Nope, it was China who determined to do its part by not devaluing the currency. Otherwise, the whole region might take longer to make a comeback. It takes a Chinese Punch to kickass Zoros as China didnt blink at his masquarade

Not that I condone currency manipulation or the methods of speculators like Soros.....BUT for the record.....here is the 'subsequently amended version' of what transcribed as per 'TDM and Soros re:1997'

Quote:
"In 1997, during the Asian financial crisis, the Prime Minister of Malaysia Mahathir bin Mohamad accused Soros of using the wealth under his control to punish the Association of Southeast Asian Nations (ASEAN) for welcoming Myanmar as a member. Following on a history of antisemitic remarks, Mahathir made specific reference to Soros' Jewish background ("It is a Jew who triggered the currency plunge"[30]) and implied Soros was orchestrating the crash as part of a larger Jewish conspiracy.

Nine years later, in 2006, Mahathir met with Soros and afterwards stated that he accepted that Soros had not been responsible for the crisis.

In 1998's The Crisis of Global Capitalism: Open Society Endangered Soros explained his role in the crisis as follows:
The financial crisis that originated in Thailand in 1997 was particularly unnerving because of its scope and severity.... By the beginning of 1997, it was clear to Soros Fund Management that the discrepancy between the trade account and the capital account was becoming untenable.

We sold short the Thai baht and the Malaysian ringgit early in 1997 with maturities ranging from six months to a year. (That is, we entered into contracts to deliver at future dates Thai Baht and Malaysian ringgit that we did not currently hold.) Subsequently Prime Minister Mahathir of Malaysia accused me of causing the crisis, a wholly unfounded accusation.

We were not sellers of the currency during or several months before the crisis; on the contrary, we were buyers when the currencies began to decline – we were purchasing ringgits to realize the profits on our earlier speculation. (Much too soon, as it turned out. We left most of the potential gain on the table because we were afraid that Mahathir would impose capital controls. He did so, but much later.)" Wikipedia

[SiangMalam]

Ha Ha Ha Kuma... I was searching for the article to post but you did it first.

I was google "Soros Reply to Mahathir - Bangkok Post" whole night but couldn't find it...

I just wanted to add the correct perspective so forumers won't get foxed into some cock-and-bull version by some storytellers...

[SiangMalam]

And....the Rush For Gold is unabated

China Is Looking Into Taking Over One Of Africa’s Biggest Gold Miners

Aug 16th: "Barrick Gold, the world's biggest gold producer, announced today that they are in talks to sell the 74 percent stake in its African mining business to China National Gold Group Corporation, a state-owned enterprise....."

Read more: Link

Do you China National Gold Group will ever control the world gold trade as they aiming to do? They buying up every gold mine in Cambodia, Indonesia and Australia too.......

[kuma]

Do you China National Gold Group will ever control the world gold trade as they aiming to do? They buying up every gold mine in Cambodia, Indonesia and Australia too.......

Here's what a little bird told me this morning ....

Before this year is done....China is going to make a riveting, most likely mind blowing and definitely 'Western Powers Depressing' statement that .......

'China has doubled their Gold Deposits' .....that is to 2000 tonnes....word has it that it might even up the mantle with Germany at 3000 tonnes, but physical gold on the market is getting scarce....SO, Buy Up the Mine.....they are the only ones who can today

If they hit 3000 tonnes, then they would be at par with Germany which is 'supposed' to have the highest in the world. [see Correction]

[Correction]
Officially the US is the highest at 8000 tonnes and UK at 4000 tonnes...now that's the OFFICIAL [WINK, oh sorry, there's a smiley for wink]

Disclaimer:
Sorry I have no ref link for you this time,(heard it on a podcast)....little birds don't have their own sites anyway ....so just take it as 'hearsay' and if you are into Gold,...then reader beware for the market could get hot!....so would currencies

p/s
And BTW,....you might want to take note of this....

Chinese companies pull out of US stock markets link
When deciphering MSM news reports, one has to learn to read btw the spin...opps i meant lines

[SiangMalam]

And in the meantime smaller players in the market like Goldfields in South Africa and Liongold Corporation in Singapore* are edging into the goldmine acquisition race so aggressively... what is gonna happen?

* Dato Wira Dani Daim has just upped his stake in this company (Google) last Thursday - interesting to watch

[kuma]

And in the meantime smaller players in the market like Goldfields in South Africa and Liongold Corporation in Singapore* are edging into the goldmine acquisition race so aggressively... what is gonna happen?

* Dato Wira Dani Daim has just upped his stake in this company (Google) last Thursday - interesting to watch

The Rush Is On.....The Winners Will See Themselves Lead In The 'New World'
'Where Dreams....Of A Their New World....Will Become Reality'

Charlie Chaplin figured this out long long ago