Soros Loads Up On Gold

Reports Mises Institute president, Doug French:

That's right, George Soros, the same guy who when interviewed in Davos last month described gold as "the ultimate asset bubble" doubled the holdings of SPDR Gold Trust in his hedge fund in the fourth quarter of last year.

Other Soros favorites: Ford, Citigroup, Monsanto, Petrobras, AT&T and Hess.

This reminds me of that other government manipulator for insider profit, John Maynard Keynes.

Keynes called gold a "barbarous relic" in his 1924 book, Monetary Reform (p 172). Yet, when he visited FDR in the 1930's, he, along with Bernard Baruch, urged FDR to prop up the price of gold (Naturally after it was confiscated from the citizens of the U.S. and made illegal to own). Keynes even wrote an open letter to FDR that apeared in NYT, and other U.S. papers, urging FDR to stabilise the "drunken" price movements in gold. FDR followed Keynes advice. Both Keynes and Baruch, who are both considered great investors, actually made their greatest investment profits by manipulating FDR and buying gold stocks in the 1930's. The stocks skyrocketed after FDR, on their advice, started propping up the gold price.