Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (1544)	12/12/1999 6:21:00 PM
From: Terry Swift	Read Replies (2) of 3558

nickel61: "Their strategy might well have been to break the back of their competitors and then scoop up their assets for peanuts." BINGO!!! I was wondering when someone was going to get around to this as a motive for Barrick getting in bed with GS and the rest of the bullion banks regarding the gold-carry trade and marketing schemes that degrade the price of their product. When one looks at the long-term prospects for the gold mining industry, it is painfully obvious there can be no more destructive behavior for the industry than what it has been a willing participant in for the past 3 years. This industry is either populated by the stupidest CEOs in the history of modern business, or each of them is thinking they can survive these low prices and scoop up their competitors at fire sale prices. There is no doubt in my mind that Barrick falls into the latter category. Terry

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