• Top money men dumping their stocks, seek hard assets before market crash.
By Christopher J. Petherick —
At least five billionaires have indicated that they are moving considerable sums of money out of the stock market and into hard assets like silver, gold and even cash in anticipation of a looming crash.
One of them, notorious slash-and-burn speculator George Soros, is going so far as to gamble over $2 billion of his fund’s money that stocks are going to tumble in the not-so-distant future.
MarketWatch.com, which is owned by The Wall Street Journal, reported on August 15 that Soros Fund Management’s “biggest position” consists of put options, betting that the market will fall. This accounts for a whopping 17% of the total assets under his fund’s management. Soros has also been investing heavily in gold mines and other physical assets.
One expert told AMERICAN FREE PRESS that Soros is moving his money out of the market over concerns that in October the Federal Reserve will be turning off the spigot on its bond-buying stimulus program. This comes after Federal Reserve Chair Janet Yellen announced in September that the Fed would be ending next month its great quantitative easing experiment, which has been blasted by critics of the privately owned and controlled central bank for enriching banks and speculators to the tune of trillions of dollars at the expense of Main Street.
But other billionaires say it is much more than that which has them spooked.
Interviewed by CNBC on September 3, billionaire Sam Zell said, “I don’t remember any time in my career where there have been as many wildcards floating out there that have the potential to be very significant and alter people’s thinking.”
Zell is the infamous investor-schemer who in 2007 orchestrated the leveraged buyout of the Tribune Company, which ultimately pushed the once-thriving media company over the edge into bankruptcy.
The Chicago-based real estate magnate cited unemployment, lagging retail sales and a foundering U.S. economy as the reasons why he is betting against the stock market.
“This is the first time I ever remember where having cash isn’t such a terrible thing,” he said.
A market crash will no doubt be bad news for the U.S. economy, but it doesn’t mean all Americans have to take it on the chin.
“This is one of the best times to get into silver,” said Jeff Munger, who runs National Coin in Bloomington, Minnesota. “Silver currently is trading slightly under $18 an ounce. In 2011, it was trading at $48.” For more information on gold and silver, Munger can be reached at 1-800-657-8942.
Christopher Petherick is the executive editor of AMERICAN FREE PRESS. Chris encourages all readers to sign up for AFP’s free weekly email newsletter. It’s loaded with house news and special offers available only to newsletter recipients and AFP web site users.
The Zionist cabal plans the collapse of the U.S. economy and financial institutions at the end of our galactic cycle and end of the age when cosmic chaos will descend upon our world. As above, so below, declares the mason. In our dual and bi-polar world, the masons do everything twice. The cabal knows the exact date of the end of time. Once the crash arrives, be sure that all the world will end up in fire and smoke. 2019 is the nearest candidate date, then 2033 and 2074.