By Sprott Money News
What is going on behind the scenes? Does the financial elite know something that the rest of the general public does not? Do they know that a system collapse is just over the horizon?
It would appear so, for something has them running for the doors, scared and worried. As we reported on last week, key smart money players have been getting out of the general stock market, taking on massive short positions.
One such legendary investor that has taken on a giant short position is Carl Icahn, who has turned completely and utterly bearish on the global economy.
He is not alone – not at all. Another massive investor, George Soros, who is openly known as one of the key elite players and financial experts in the world, has joined the ranks of those fearing the worst.
Soros Fund Management, the family office of George Soros, has slashed its overall equity holdings by 25%. That’s down to just $4.5 billion, a far cry from where we have seen it in the past and the lowest position that we have seen this fund take since 2013.
This should not come as a shock to anyone, as Soros has been openly talking about the risk that he sees in the world, highlighting the unfolding drama that China is facing. He has even gone as far as to compare the debt situation there to what was seen before the 2007-2008 crisis erupted.
What is shocking is what Soros has moved his funds into. Taking a large position in Barrick Gold, making it his fund’s largest US holding, he is showing that he believes gold to be a solid bet in these times of uncertainty. We couldn’t agree more.
Of course, this is not the only example, as anyone who follows this blog would know. The Western world is in no better of a situation and the proliferation of fiat money is the only thing keeping this Ponzi scheme afloat.
Unfortunately for the unknowing masses, who have prepared not in the least bit, this can only go on for so long. A disaster of epic proportions is brewing behind the scenes.
The “smart” money is joining the ranks of the “tin foil” hat wearers and once again verifying that we have been right all along. The situation the world finds itself in is not one of growth and prosperity, but one of uncertainty and doubt. All we need now is a spark.