Billionaires are getting ready for the Aftershock !
One thing Glenn Beck had right was when he kept saying: “watch the other hand” !
In the midst of the whole gold market panic and Boston bombings (which are raising questions already – because FBI did know in advance about it!), billionaires are dumping all their stock holdings – fast! Not only they are dumping stock, they are liquidating JP Morgan, Goldman Sachs and Citibank stocks.
Quotes:
George Soros sold nearly all his bank stocks including JP Morgan, Citigroup and Goldman Sachs
Buffett (who has been a cheerleader for US stocks all along) has been drastically cutting back on his exposure to consumer stocks. Berkshire sold roughly 19 million shares of Johnson and Johnson. Berkshire has reduced his overall stake in consumer product stocks by 21%, including Kraft and Procter and Gamble. He has also cleared out his entire position in Intel. He has sold 10,000 shares of GM and 597,000 shares of IBM.
Fellow billionaire John Paulson dumped 14 million shares of JP Morgan and dumped his entire position in Family Dollar and consumer goods maker Sara Lee. (please note that Paulson did not sell his gold stock in the market selloff. Why? Does he know something we don’t? Why did he choose to liquidate JP Morgan holdings instead? Hmmmm)
The explanation is quite simple: they know something they are not telling you. They know what the insiders know. They are preparing for the Aftershock.
Quote:
One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock. Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials:
In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.
The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.
A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”
The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”
And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”
