Thanks to Warren Buffet bailing on U.S. debt issues, the markets will start to tank. If a brilliant guy like Buffet is losing confidence in supposedly safer U.S.(than European) debt then things are not good. Maybe Soros & Paulson got wind of what Buffet was thinking and that is why they have loaded up on gold. JMHO BTW I'm still long SPXU and so far I'm taking a beating.
I think Buffet & Munger's covering and closing out his CDS exposer, to Lehamn Brothers, to Muni Market might be an indication that they foresee interest rates going up sooner than later! They closed out 8 billion in CDS contracts they sold to Lehman Bros. in 2007. They still have 8 billion in cds contract exposure, to over 100 different State and Municipal bonds held, that they cannot close out. Sounds like Warren and Charlie are expecting a big interest rate hike coming from the FOMC in the near future?
As for Soros:
"George Soros may have picked the top. His liquidation of gold in the $1560 an ounce range."