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Anyone buy gold or silver?

by Dalun
12 replies
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I have 20 oz silver at the moment and will be gathering more in the coming weeks. I dont have any gold because its too expensive for me.

Anyone else have gold or silver in their possesion?
  • Profile picture of the author seasoned
    Well, now that soros says they will collapse, I figured I would basically buy like 2 ozs worth of gold!

    WHAT THE HECK, HE doesn't seem to be selling anyway.
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  • Profile picture of the author Dalun
    what's a soros??
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    • Profile picture of the author glchandler
      George Soros, one of the world's leading investors, believes the euro "may not survive" and has publicly declared that he is buying into gold - even though he says he considers it a "bubble".
      Could be just a bit interesting for the next day or two.
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      • Profile picture of the author Dalun
        Originally Posted by glchandler View Post

        Could be just a bit interesting for the next day or two.
        why do you say that? is there any news relating to the price of silver and gold slightly increasing?
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        • Profile picture of the author glchandler
          Originally Posted by glchandler
          Could be just a bit interesting for the next day or two.


          why do you say that? is there any news relating to the price of silver and gold slightly increasing?
          Read posts by rg0205 and then search for Soros name on web and you can find some interesting reading. I recall something about him pulling these same chains about 15-18 years ago on devaluation of British pound----made himself profits in the BILLIONS.

          These investors to not make these statements and predictions to make you money-----they make them into scaring you into making them a killing!
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  • Profile picture of the author rg0205
    I'd be careful with this one. Yes, I do own gold but the price spikes and drops are very dramatic.

    Personally, my colleagues and I are banking on Silver better because the stock market is also affected by fear and influence among many things. Soros is aware of this and him coming out blatantly saying he's buying into gold will trip up the prices because it's just a chain reaction.

    See, if Soros says it's lucrative, chances are MORE people will be buying into gold, further raising its value and it wouldn't be a surprise if Soros owns a lot of gold shares to dump it and flip profits since he would have gotten them for lower value before coming out saying that he's BUYING.

    Silver, on the other hand, is being overlooked, I think. My colleagues, including my boss and I are more inclined to invest in Silver than on Gold. Yes, it will be a bubble, I think, most especially with what Soros said.
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  • Profile picture of the author rg0205
    I would also like to add a little more.

    When currencies are weak/ weaker, investors are likely to turn to precious metals and more inclined to invest in precious metals which usually is gold.
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  • Profile picture of the author seasoned
    Gordon,

    It is interesting. What you are talking about is PUMP AND DUMP. It is a FELONY! It is surprising that the SEC doesn't throw all these people in jail. Yeah, what soros did to britain should havee been met with HARSH action. They threw martha stuart in jail for FAR less. On a scale of 1-10, 10 being the worst, martha's offense was probably a 6, and soros was a 10!

    Steve
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    • Profile picture of the author rg0205
      I don't know about Soros but what martha did was insider trading. It slightly differs because Soros is just saying he is buying up gold.

      What Stewart got was insider tips and she blatantly dumped the stock upon getting the tip off and this all had a trail - that's why she was imprisoned.

      As far as Soros, well he is creating hype which is no different from what IM gurus do. As long as he doesn't get the insider info and dump, not likely he'll be caught. What he just did was provide info to others on what he's buying. He is giving out the info. He isn't trying to get it from the inside.

      Then again Soros IS the insider which many people dont realize. He has things at his fingertips and doesnt need insider tips. He does have great influence over the rise and fall of stocks
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      • Profile picture of the author seasoned
        Originally Posted by rg0205 View Post

        I don't know about Soros but what martha did was insider trading. It slightly differs because Soros is just saying he is buying up gold.

        What Stewart got was insider tips and she blatantly dumped the stock upon getting the tip off and this all had a trail - that's why she was imprisoned.

        As far as Soros, well he is creating hype which is no different from what IM gurus do. As long as he doesn't get the insider info and dump, not likely he'll be caught. What he just did was provide info to others on what he's buying. He is giving out the info. He isn't trying to get it from the inside.

        Then again Soros IS the insider which many people dont realize. He has things at his fingertips and doesnt need insider tips. He does have great influence over the rise and fall of stocks
        MARTHA just bought on inside information. Unless she bought a LOT, was a LISTED insider and on a list, or had a big following following her, there was no real damage done elsewhere. It was ILLEGAL, but no real damage.

        SOROS apparently does things like HURT a STOCK(DUMP), BUY IT, and OVER INFLATE expectations(PUMP)! NOT "insider trading", but he DOES cause real damage! In a way, it also IS insider information, because HE knows who spread the rumors and why. And don't fool yourself, it IS ILLEGAL! BTW if you get 5% or more of the stock, you ARE an insider!

        HECK, with advisors, etc... there are restrictions that they have to say if they own the stock, and limits on when they can sell and buy.

        Pump and Dump
        http://www.sec.gov/litigation/compla.../comp19949.pdf

        steve
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  • Profile picture of the author MattBrown
    Gold is supposed to drop. When the american dollar goes down, the major investors sells their gold stock and buys into the American dollar. Gold will be a great investment again, but not yet. I'm holding off a bit more until i buy back into it.
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    • Profile picture of the author glchandler
      It is interesting. What you are talking about is PUMP AND DUMP. It is a FELONY! It is surprising that the SEC doesn't throw all these people in jail. Yeah, what soros did to britain should havee been met with HARSH action. They threw martha stuart in jail for FAR less. On a scale of 1-10, 10 being the worst, martha's offense was probably a 6, and soros was a 10!
      Sure is....I used to play with penney stocks and pump and dump is what those are all about.

      For an interesting one take a look at history of CMKX (diamonds!) that turned out to be the biggest short sell scam in stock history.

      By the time SEC caught on there were literally billions and billions shorted, and the lawsuits and criminal charges are just beginning to emerge---all from over six years ago.
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