Le Metropole members,
Paul Kaimla has served commentary at the
Man Ray Table entitled, "GOLD BUGGED."
GOLD BUGGED
Author Arthur Hailey has aimed
a poison pen at Barrick
By Paul Kaimla
Canadian Business
November 25, 1999
"It's been 30 years since Arthur Hailey became
a household name with his disaster novel,
"Airport," which was made into the widely
imitated and satirized 1970 movie of the same
name starring Burt Lancaster and Dean Martin.
Since then the Canadian citizen and former
Toronto resident has written books that
expose the dirty secrets of everything from
the automobile to the pharmaceutical
industries. But now the cantankerous
79-year-old author has turned his critical
eye toward the gold industry -- and zeroed
in on Toronto-based Barrick Gold Corp.,
North America's second-largest bullion producer."
This is another piece of very good journalism
that tells us the GATA and all of your efforts
is having an impact. Barrick Gold has been
besieged by shareholder unrest. That is why they
are going all over trying to justify their current
hedging strategy to the gold community.
You will note in this article, that Barrick's
Vincent Borg, vice-president of corporate
communications takes a cheap shot at Arthur
Hailey who was a long time Barrick shareholder
and supporter.
"According to Borg, Hailey's comments are typical
of gold bugs who believe there is a conspiracy
between Barrick, Wall Street banks and the U.S.
Federal Reserve, which apparently wants the price
of gold low because it is an inflation indicator.
"Have you ever talked to these gold bugs, the
Arthur Hailey's of the world?" Borg asks."
This is Barrick's own spokesman denigrating those
of us that have an interest in the gold market
and have taken the time to realize that something
is very wrong with it. Does this man think the
internet crowd is going to invest in Barrick? No
wonder Barrick's stock is stinking up the place.
Oh, they probably don't care. At last look, Goldman
Sachs owned 2,853,000 shares of Barrick stock.
I hope all of you take the time to read this piece
and then, if you have a bit of time, tell Mr.
Vincent Borg what you think, both of his comments
and of Arthur Hailey.
Mr. Borg - you did manage to get one thing right. We
do believe there has been some sort of conspiracy
between Barrick, the bullion banks and the U.S Fed
and GATA is out to do what we can to prove it.
The gold price is hundreds of dollars below its
natural equilibrium price. That is going to be found
out soon and when it is, the gold price will fly and
companies like Barrick are going to have to explain
to shareholders why they did not cover when they had
a chance to.
Love to be a fly on the wall for that one.
<A HREF="http://www.LeMetropoleCafe.com/scripts/products.cfm">Le Metropole Cafe</A>
All the best,
Bill Murphy
Le Patron
www.LeMetropoleCafe.com |
