Many of the billionaire George Soros moves with his investment house have shown that he is now seeing a bear market looming. Traders on Wall Street have commented on Soros’ trading behavior, some of which ended up in a Wall Street Journal article. They say Soros has not been at all active in the equities markets, until very recently, when he sold off a great deal of stock. Soros then turned around and started buying gold and other precious metals, the way investors do during a bear market.
There is no “bear” market at the moment, but analysts are seeing signs that George Soros already believes one to strike, and soon. His total worth was reported to be in the area of $30 billion USD. He has not only invested in gold, but also in gold miner operations. George Soros’ main concern is with the fluctuations in the Chinese money value, which he says corruption in their political system has allowed to slide ever closer to the precipice of financial failure. He believes when China drops, all the rest of the world’s interconnected stock markets will go into free fall.
Soros seems sure that the same situation that produced the Greek crisis in the European Union will occur with China, but will affect everyone in the world, not just Asia. Soros is known to be a savvy and shrewd survivor, beginning with his survival in his native Hungary when the German Nazi’s of World War II invaded. After the war, Soros lived in Soviet occupied Hungary for several years, until he was able to escape to the West. He then graduated from England’s famed London School of Economics in the early 1950s. He moved from England to the U.S., where he amassed a fortune in equities trading. He has always operated as a critic and activist in areas of U.S. policy in Europe and especially the Eastern Bloc nations, including Hungary.
After publishing several books and giving many speeches on his views, George Soros also started the Open Society Foundations (OSF) to promote free democracy and basic human rights in all countries of the world. He has always worked to help everyday people in every area of the world overcome oppression, learn more about economic freedom, and help improve public education.
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