Big boy is speaking – George Soros, gold, Greece and bubbles

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Gold:
Seems like George is talking about one thing but doing another. Quoting FT: “When it comes to gold, which he famously described at the recent World Economic Forum in Davos as “the ultimate asset bubble”, he has indeed put his money where his yellow metal is.” He has been loading some options and shares: “Mr Soros’s investment vehicle owns 11,000 call options that will permit it to buy an extra 1.1m shares should gold prices move higher. Soros Fund Management also increased its stake in Canadian-based gold producer Yamana Gold, buying 60,880 shares to take its total position to 85,880 shares, worth $973,314 at the end of December.” According to Wall Street Journal he told that “the time that the low-interest-rate environment creates a condition for bubbles to develop and that gold is the ultimate bubble.”

více na: http://ftalphaville.ft.com

Greece and future of EURO:

In this article George Soros is talking about help and the origins of EURO as a currency. He says: “the euro was meant to be a monetary union but not a political one. Participating states established a common central bank but refused to surrender the right to tax their citizens to a common authority. It is clear what is needed: more intrusive monitoring and institutional arrangements for conditional assistance. A well-organised eurobond market would be desirable. The question is whether the political will for these steps can be generated”. I am bit worried that once we start to bailout every single country which was cheating with their creative accounting we might have much bigger problems then just tiny Greece. By the way last year I was visiting Greece very often (once in 2months) and I was shocked. I mean. Come ooon it is a very nice location if you know where to go but the infrastructure, working times and mentality of the people is more about going out and having great time. The prices of drinks (coffee,water,orange juice etc.) at some places were well above the EURO standard. It was like a NATIONAL SPORT to go for coffee during the afternoon and drink during the evening. At least they are getting some heavy consumer spending :). So my opinion?: if they want to cut the deficit I would put a biggest TAX on coffee and coffee houses in general. Fuck the bonds, no help from IMF, no rescue plan from Germany. Higher TAX on cofffee houses  and we will have soon the strongest nation in EU :))

více na: ft.com

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