30+ years of profligate spending topped off by 3+ years of truly epic spending without any semblance of respect for basic economic principles or any notional gesture that paying off the debt with real money is feasible or even desirable-- that sank the AAA rating. Not Soros, who doubtless profited greatly, not the JOOZ, not the GOP, not Obama/Reid/Pelosi, etc. We did it, because we wanted to have our cake, eat it, then have our children's cake and eat it, and our grandchildren's cake and eat it, all right now, right here and not have it cost us a thin dime.
He didn't quite dump GoldytterbiusAugust 9 2011, 18:14:08 UTC
He Dumped Gold ETFs, which, although the article claims they are paper "backed by bullion," they're heavily shorted and couldn't necessarily deliver on all of that gold if they ever needed to
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Re: He didn't quite dump Goldil_mio_gufoAugust 10 2011, 03:19:21 UTC
They know that even if the US Government has no ability to pay for any social programs, then debt of the Government to the lender is Constitutionally protected.
I would have bet everything I had last month on the same bet. There's no need to have insider information, it was blatantly obvious.
Moore's still an idiot.
Gold is a sticky wicket. I think there's a chance it will go down a little bit for a little while, but it's just going to go back up again. There will be some people trying to make some money on the fluctuation and they may even be the cause of it in some way, but in the long term, it's going to be higher than it is now.
For the record, Soros has been warning against over-reliance on gold for quite some time. In this sense, his latest move on the gold market hasn't been a surprise.
Whether he was the one who made the bet, is yet to be verified. It wouldn't be a surprise either, but it doesn't make sense to speculate this early.
Soros has been warning about almost everything to anyone who will listed for quite some time. His warnings don't have as great of a track record as his investments.
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30+ years of profligate spending topped off by 3+ years of truly epic spending without any semblance of respect for basic economic principles or any notional gesture that paying off the debt with real money is feasible or even desirable-- that sank the AAA rating. Not Soros, who doubtless profited greatly, not the JOOZ, not the GOP, not Obama/Reid/Pelosi, etc. We did it, because we wanted to have our cake, eat it, then have our children's cake and eat it, and our grandchildren's cake and eat it, all right now, right here and not have it cost us a thin dime.
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wtf? i'm confused :/
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Moore's still an idiot.
Gold is a sticky wicket. I think there's a chance it will go down a little bit for a little while, but it's just going to go back up again. There will be some people trying to make some money on the fluctuation and they may even be the cause of it in some way, but in the long term, it's going to be higher than it is now.
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Whether he was the one who made the bet, is yet to be verified. It wouldn't be a surprise either, but it doesn't make sense to speculate this early.
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