This whole Ashanti/Cambior and unnamed counterparty affair is still very much unresolved in my opinion. If I was one of those call holders who wanted the metal and wanted when I wanted it under the terms of the contract in force at the time of my purchase,...
I would still want my gold now, 3 weeks later, standstill agreement or NO standstill agreement.
Just because there is a standstill agreement doesn't mean the $570 million dollars shortfall in Ashanti's hedgebook is now covered simply because of a manipulated POG lowering by BOE. Standstill means just that...standstill: for both the injured as well as the victor.
However, unless BOE loaned money outright to Ashanti this time for naked put buying and simultaneously PROMISED a retracement in POG to Ashanti as well, well, then that is NOT a standstill agreement now is it? Even LTCM's lousy positions had to be assumed by Goldman Sachs and 10 other WORLD BANKS.
Anyone besides me wonder if that consortium of 11 World Central Banks PLUS GOLDMAN are over the financial hickey to their books for the lousy judgement of LTCM darling duo??? Or the blown Yen Carry Trade the last time they played ball with Alan behind the skirttails of the NY Fed Governor?
Besides, I Remember POG went to $339 recently and not just the $325 POG quoted in your URL for the $570 million shortfall.
While the Fed Reserve is busy making promises, those who have seen their patience and long call positions profits put on hold, let me remind all on here that THOSE VICTORS are equally anxious to receive monies owed them, if not the gold.
And who in their right mind wants FR flatulent fiat in those huge numbers with Y2K staring them smack in the face??
Not I, I'd want the gold that is rightfully due me, and I wouldn't give a rat's hiney whose Central Bank hallmark was on those kilo bars either.
The fat lady hasn't sung yet! This particular gold market "systemic settlement" is going to take the cake, the cake pedestal, the cake pedestal doily and the cake knife as well when the cake crumbles.
And that one with cake on his bewhiskered jowels will be none other than our Alan Greenbritches and his UK sidekick. I can hardly contain my glee at watching this unfold.
O/49r |
