George Soros is again buying gold and selling and going short stocks due to BREXIT and EU “collapse” risk, after a six year hiatus from the gold market.
The multi-billionaire hedge fund manager, the man who “broke the Bank of England” and one of the richest and most powerful men in the world has now publicly warned that inflation is likely soon and is voicing concerns about BREXIT, the disintegration of the EU, a Chinese financial crash, global contagion and a new World War.
Soros Fund Management, which manages around $30 billion for the Soros family, is now aggressively selling and going short stocks and diversifying into gold and shares in gold mining companies, due to his now even “gloomier” view of the global financial system and the global economic outlook.
Soros has become more involved in trading at his family office, due to his many concerns and the risk that “large market shifts may be at hand”, according to a person familiar with the matter as reported by Bloomberg.
Soros recently warned that the EU is “on the verge of collapse” because of its handling of the Greek economic crisis and refugee crisis and said the prospect of a BREXIT from EU Superstate posed a fresh threat to the EU.
Governments, economists, financial advisers, brokers and of course bankers did not see the first crisis coming in 2008 and they are not seeing it now. Some are simply not informed or aware of the risks and others choose to ignore them and spin the illusion that all is well and there is nothing to be worried about.
The cosy consensus and groupthink of economic recovery continues and there is a remarkable lack of a plurality of opinion and lack of debate regarding the risks posed to savers and investors today.
Full article: Soros Buying Gold On BREXIT, EU “Collapse” Risk (GoldCore)