Please. Sell your Gold NOW! It's a trap.

Opening Bell : Markets Rally on QE3 Expectations
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Wall Street Aristocracy got up to $1.2 Trillion in Secret Federal Reserve loans any given time from 2007-2010
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I know that almost every alternative media, mainstream media, and precious metal peddler is telling you to buy gold for a number of reasons, though mainly as a hedge against inflation. This has always been the case througout history, and like every other time in history. Once the bubble bursts, the jig is up, you're broke, starving and left holding the bag while the banking cartel asserts their newfound power.

Still belive in gold? My question to you is this:

If it is such a great hedge against inflation, what do you do with it when the money supply is contracted? What do you say to the banking titans getting out of gold and going into water, energy, land and other natural resources?

You won't be able to sell it for 1/100th of what you bought it for. What once would have been a down payment on a new car will be equated to a loaf of bread.

If you think that's bad.. If you actually do get out of the market, and get back into the dollar, you will still lose because what your holding will be truly worthless. In this case, you're better off with gold.

The smartest thing to do is to buy land and natural resources.

YOU HAVE BEEN WARNED

News Flash :George Soros, the hedge fund investor who called gold the ultimate bubble, has divested his portfolio of nearly its entire investment in the gold, inciting many to fear that the price will very soon plummet, devaluing the specie-heavy portfolios of millions of investors.

George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.
George Soros sells his gold
George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.

*snip*

It is not known exactly when Mr Soros sold his gold, which was held via the Soros Fund Management investment vehicle. Filings to the Securities and Exchange Commission (SEC), the American regulator, showed that he had sold 99pc of his holding in SPDR Gold Trust, an exchange-traded fund (ETF) backed by gold bullion, by the end of March.


Source : www.telegraph.co.uk...

I have no gold, I know nothing of the subject. However my foreman at work tells me the same thing, and he's usually got a good feeling for this kinda stuff. He was the only guy in line 20 some years ago selling his gold. There were blocks of people lined up to buy gold, and 2 weeks later it crashed.

reply to post by sbctinfantry


I don't think many of us own Gold.
I might be wrong, but I think that kind of stuff is reserved for the rich.

reply to post by sbctinfantry


Please forgive my ignorance, but would you be so kind as to explain how the price of gold can be simply elevated and dropped to cause a collapse specifically here in the US, while almost everyone else in the world considers it of immense value as well? In order to do such a thing wouldn't a solitary group have to have enough of it to make it seem nonexistent within the market? And in order to devalue it, would they not have to increase the supply of it?

I asked this in another thread of yours, but you were too busy making a new one right after, apparently. Another question I have is why are you the only one saying something if this is so plausible? I don't mean to be condescending, I am genuinely curious as to why nobody else has even thought of this, or if they have, why they did not deem it an issue?

I think you're completely right...but if you've got some good land, and food and resources, then gold is a good backup. That's all it should really be used for. A backup. Unless you started investing 4-10 years ago...then again, now would be a great time to sell some of it.
It's probably a trap. There's too much coverage not only in alternative news sources, but also MSM(Yes, Fox News is main stream).

Soros didn't sell physical gold, he sold gold ETFs.

When do people learn that its not the same.

Actually there is a ceiling for gold ,
which once reached,
it will bounce of said ceiling,
,cause once again
gold won't matter.
its based on base value X
times X
H
or XxH=C

C is ceiling

reply to post by ALF88

I find it hilarious that people trust banks to back up the piece of paper given to them with actual gold. They don't do it with real money, why would they do it with gold?
I don't want to buy real gold...i want to buy a piece of paper that says I have gold. /facepalm

reply to post by sbctinfantry


All precious metals that I have were willed/given to me. They are secure and accessible if need be.

I think I'll hang for the next ride.

I do think gold will plummet soon, but when it goes back up over the next ten years, it will double it's worth than current prices.

Edit: And I will bet you dollars to donuts that when the gold bubble bursts...Soros will be there snatching it up.

reply to post by Ghost375


Actually its exactly the opposite in the UK. Cash for gold is still all the rage. I saw a cash for gold stall in a mall in Cardiff at the weekend with people lining up to trade in. First time I've seen that.

Full inside spread front page editorial in The Times at the weekend urging people to ignore gold and buy stocks.

The penetration of 'buying physical gold' as an idea in the UK population is negligible. If there is a bubble there are few brits in it at the moment.

What are you gonna do when they announce the philosopher's stone has been discovered and they can make gold from lead? You will sure feel silly that you were hoarding gold.

I read an article last spring, that by years end, there would be skyrocketing gold prices as high as 5k an ounce. When this happened, the US would try to sell off it's stock at the inflated rate. At this point in time, China would throw a monkey wrench in to cause a price plummet effectively causing the US to go bankrupt. I've tried to find the link unsuccessfully so far.

Although you do have a point with your "buy land" remark let me tell you the truth....

The only reason Georgy sold his "paper" gold is to buy THE REAL DEAL!!!

This is just another scam to influence the price, in reality I think this is already done 1000s years ago and just repeated in a different scenario.

reply to post by sbctinfantry


Do you think this will have any effect on silver?

What is the time frame?

The buying and selling of precious metals is a tough one for me to figure out. It's either "OMG buy now" or OMG you better sell now". Fortunately for me, I can't afford to buy gold, so no worries

Also, it's not officially a trap until he says it is

Originally posted by ALF88
Soros didn't sell physical gold, he sold gold ETFs.

When do people learn that its not the same.

edit on 22-8-2011 by ALF88 because: (no reason given)

You beat me to it, I figure if I buy gold or silver and don't have it physically in my possession
I might as well be investing in magic beans or pixie dust (not to be confused with stripper glitter).

Its sort of like comparing horses to unicorns.

reply to post by sbctinfantry

Once the bubble bursts, the jig is up, you're broke, starving and left holding the bag while the banking cartel asserts their newfound power.

Gold isn't a bubble, though. It doesn't even act like a bubble, I don't understand why gold haters always repeat that same propaganda line -- it's getting old. Most people aren't even buying gold, they're actually selling gold to buy U.S treasuries. The only bubble here is in the U.S treasury market.

If it is such a great hedge against inflation, what do you do with it when the money supply is contracted?

What makes you so sure that they'll let deflation happen? No one in there right mind thinks the U.S will let deflation take place, Bernanke and Obama have already shown their line of economic thought. Even if they did though, gold would still be worth it.

What do you say to the banking titans getting out of gold and going into water, energy, land and other natural resources?

What do you mean by this?

The smartest thing to do is to buy land

No thanks I'll keep my gold and other commodities and if gold comes down I'll buy more of it.

George Soros, the hedge fund investor who called gold the ultimate bubble

George Soros is a troll, he's probably just saying that so you'll sell your gold and he'll come in a buy it up. On top of that I don't take his economic opinion seriously he didn't foresee the dot com bubble or the housing bubble, what makes him right now?

Originally posted by justwokeup
reply to post by Ghost375

 

Actually its exactly the opposite in the UK. Cash for gold is still all the rage. I saw a cash for gold stall in a mall in Cardiff at the weekend with people lining up to trade in. First time I've seen that.

Full inside spread front page editorial in The Times at the weekend urging people to ignore gold and buy stocks.

The penetration of 'buying physical gold' as an idea in the UK population is negligible. If there is a bubble there are few brits in it at the moment.

edit on 22-8-2011 by justwokeup because: typo

You do realize that right before the bubble bursts, it seems like a sure bet, speculator run around buying and selling like rabit dogs, and the price is 'too good to be true'.

It's only a 15 minute history lesson of every bubble crash to figure that one out.

What was the going rate of a lilly bulb, that one time? How about that .com thing? Oh, I know, that stock market crash thing, roaring 20's ring a bell? How about this housing collapse? Or the one right after Caesar died? Or how bout the crash of the half-shekel when Jesus kicked out the moneychangers?

Just saying... History has the answers, not me. I'm not answering your questions with speculation, I actually open a book and do research then find it on the internet so as to communicate in a language that is comprehensible by the average human being today.

It's (DE)evolution Baby!



To answer other responses:

Aside from the fact that I stated already what another poster proclaimed (Soros buying the gold for pennies on the dollar after the crash)

Another poster claiming that Soros is only selling the paper gold

To that I say, of course... Paper gold is being sold, which is the only factor causing actual inflation of gold, because gold would normally be uninflatable, which kind of answers your own question if you had an ounce of deductive reasoning.

Why would anyone buy fake gold? Inflate the price and then sell it off? I wonder what will happen to the price of REAL gold when this happens? Oh, gee wiz, it will drop like a rock.

NEW YORK (Reuters) – PIMCO’s Total Return Fund, the world’s biggest bond fund, has dumped all U.S. government-related securities, including Treasuries and agency debt, a source familiar with the fund’s holdings said on Wednesday.

In January, Pacific Investment Management Co.’s $236.9 billion Total Return fund slashed its U.S. government-related debt holdings to the lowest level in at least two years and increased cash and debt holdings from other developed nations.

Government-related securities include Treasuries, Treasury Inflation-Protected Securities, agencies, interest rate swaps, Treasury futures and options, and corporate securities guaranteed by the U.S. Federal Deposit Insurance Corp.

The Total Return Fund’s cash holdings had surged to $54.5 billion as of February 28 from $11.9 billion at the end of January. A PIMCO spokesman declined to comment for this story.

Soros Sells Gold ETF While Paulson Buys - PIMCO Favour Gold as a “Protection Against What Can Go Wrong”

Its not a bear market but it certainly isn't a bullish one either.

I say have a 1oz gold coin in your stash and a *snip* ton of silver. Silver is needed more in industrial uses than gold. The ratio that gold and silver have followed through out their monitary history is roughly 16:1 . So the price of silver should be well over $100/oz right now. People will look in hindsight at all of this and go DOH!!!!!!! why did I listen to all those stupid Buy gold now commercials? Why didnt I listen to Talltexxxan and buy silver. DANG!!!!!