by Jeff Berwick, The Dollar Vigilante:
Billionaire Crispin Odey recently released a management letter to his hedge fund clients praising gold and explaining gold products constituted the next, great investment wave.
He is yet another in a wave of billionaires who have all, suddenly, been moving massive portions of their portfolio into gold… with one of the latest being George Soros, who moved a significant amount of his portfolio into gold just a few months ago.
It is quite likely that both of these individuals are familiar with TDV’s Shemitah and Jubilee Year analysis. That’s not to say they read TDV (of course they may – and should), but they understand the larger, secretive events associated with these occult timelines. That may be in fact one reason why Soros and other billionaires have been acting this year to realize gold positions. And why Odey, too, has now moved in that direction.
The two men move in the same, elitist circles. Soros provided Odey with his first large investment stake, reportedly of some $150 million, when Odey set up his initial hedge fund in the early ’90s. And Odey was briefly married to a daughter of Rupert Murdoch and is now married to Nichola Pease who is reportedly related to one of the founding families of Barclays Bank.
Odey has now taken a significant position in Kinross Gold Corporation, purchasing 15.5 million shares of the Canadian gold-mining company, valued at $75.7 million on June 30. But it is his recent management letter where he speaks about gold historically that should get your attention:
In a world where $13 trillion of bonds are negative yielding, where $4 trillion of investments are in ETF’s, is it wise that only $1.5 trillion of savings are invested to protect investors against a change in the weather?
If we are at the limits of QE and financial repression, central banks, in the developed world, are at least doing a very good job at printing money. Every chance is taken to push some money printing through.
Carney was quick to take advantage of Brexit to keep up with his fellow central bankers. And this is where gold comes in. Gold was the original currency. It came out of distrust of governments and was chosen because it could not be manufactured at will.
Today there are around 300,000 tons of gold extant and each year around 2,700 tons are mined, or less than 1% of the stock of gold.
… Today, world GNP stands at $75 trillion and world money supply stands at around $83 trillion – some ten times its level at the start of the millennium.
The inference here is clear. A lot less gold is being produced than paper money. And Odey anticipates that eventually the “price” of gold against paper money will be massively revalued upwards.
There’s not enough gold and too much paper. Simple enough, supply and demand. Odey is reportedly “massively levered to an upside in gold paper futures.” Presumably Odey believes the “repricing” of gold is going to happen sooner rather than later.
His fellow billionaire George Soros – whom we have reported on before regarding gold – also remains a gold bull. But unlike Odey, Soros has taken profits on his Barrick gold shares as revealed In a recent quarterly 13-F filing. Although, it should be noted, that Soros is a trader… he could be in and out of certain stocks in the time it took us to write this.
Soros and other important gold bulls have been profiled by TDV as they have announced their conviction that the yellow metal – and surely silver, too – are the most promising investments going forward.
You might question these sentiments given that the market is continuing to rally and recently made a “triple high.” But as we’ve pointed out, Jubilee 2016 is a “building year” for those in elite circles seeking “chaos” to propel globalism forward. There are plenty of disasters being prepared. And soon enough they will detonate.
Soros, like other billionaires we’ve profiled obviously continues to believe that longterm markets are going down not up, and perhaps down in a tremendous crash. We’ve anticipated these upcoming market disasters just as Odey, Soros and other top investors have. It pains us to be in the company of Soros who is responsible for a good deal of the mischief in the world, but he is also a Grade A investor, probably because he has so many sources of inside information.
Of course our source of insider information comes from the Shemitah and Jubilee timelines. And our famous Senior Analyst Ed Bugos is well aware of the information we’ve extracted from those timelines after the work we’ve done to establish historical patterns. It’s one reason among many that Ed has propelled our TDV portfolio up some 200 percent in the last year and his individual stock picks have been rising quickly, with his most recent stock pick to Premium subscribers haven risen 200% since he issued it at the beginning of May (and still considers it a buy with up to 1,000% potential).
Throughout the past months we’ve covered announcements by numerous billionaires about an upcoming stock crash and the necessity for for hedging and metals protection. Our research prepared us for this day long ago. But there is much more ahead that will make today’s environment seem positively tranquil.
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