....derivatives that have done the damage are gold futures and options.
That's like saying Guns kill, when it's the motive behind the trigger that matters. Gata never got it, never will. And the sooner you learn to speak for yourself the better.
... derivatives these companies bought have
... at worst bankrupted them
... and at best mortgaged their future production
... and profits for months and years to come.
Not true at all. Can you show me an example the HEDGING, and not speculating, by gold companies is a negative? I doubt that anyone here can. Mortgage their futures, well in a declining gold price, I disagree. In a rising price of gold, how much are they hedged as a percentage of production? I think you and many people here are stuck on definitions of going long or going short, and don't fully understand what a hedge is. I think Murphy and his education don't truly understand the process either. I know he couldn't answer the simple questions I posed in the past. He may have traded futures, or options, but that doesn't mean he understood. Gata is looking under ever little rock for proof, good luck. Is what they do with their time a bad thing: No, just a waste of time. What proof they get will not result in a bid tobacco type payout. Maybe their motives and yours need to be checked. What are they trying to prove, "that they are right?" Well the POG speaks volumes. If I can predict the POG in the future, and I do on a pretty dam accurate basis. Then they must be missing something. My guess is it's a basic understanding of the market place!
Hutch
Doug, learn to speak for yourself. Parrots get boring after the novelty wears off. |
