Butler piece - 'fraud' - he doesn't understand Barrick's programme
This is a correct sentence. I understand nothing of neuro surgery, so how can I advise the medical associations. Point is, Butler is out of his league.
What I did was publicly accuse Barrick of manipulation and fraud..... I petitioned the SEC, CFTC, Barrick's auditors (Price Waterhouse Coopers), Barrick management, and Barrick shareholders and employees..... ... To this day, I am amazed they haven't moved against me for libel
He'll get his wish, once he starts to becoming a nuisance. Which is soon. I know enough of ABX hedges to say:"Butler is a complete idiot!" Maybe if he sat down with a futures and a derivative trader, he'd begin to understand that many of these instruments are in the best interest of ABX, as long as the POG stays within ranges. This is the key to most financial instruments, including equity. Often just owning a bond in a foreign country is good enough to offset majour risks. For years many have said that when USA hits a financial meltdown, make sure you are in gold. YET often much of the time it pays to just switch currencies. Even the exotic derivatives that caused the melt down of Orange County, where very profitable for Orange County. Orange County, like Cambior and Ashanti, got over zealous. And decided to let a loosing hedge blow up. It is up to those controlling the hedges to fully understand the mechanics of such.
Past news releases from ABX have said that they do NOT partake of exotic derivatives.
Hutch
PS: This vendetta against ABX is amusing to say the least. It only goes to show that many here who oppose ABX/PDG don't fully investigate their investments. So why do the same people mock the internet investors, when they are doing the same style of investment. |
