Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Zardoz who wrote (1978)	1/18/2000 8:39:00 AM
From: nickel61	Read Replies (1) of 3558

Yeh Hutch I think you also said the Yen was going to 160 to the dollar as I remember. Get a clue Buddy! You DON'T hedge the price when it is going up. Period. For all your bluster you really just don't get the situation.The ability to lower the price of gold is BECAUSE OF THE PAPER GOLD that has been able to swamp the spot market because it can be created from a contract relationship just like money is created in fractional reserve banking. It doesn't exist! It is a promise to deliver.Of which too many have been created to be able to be satisfied with physical gold. That is why the hedgers are backing off. They know with 85% of the Central Banks curtailing their future leasing the available supply of additional gold won't be their so the contracts will have to start being settled not with credit or cash but with actual physical gold. And Barrick and the other hedgers have understood what seems to be elluding you that looking at those volumes on the LBME it is clear that the volume of trades can not possibly be satisfied with actual gold and that their will be massive defaults. By the way I apolegize for accusing you of being a Barrick shill.

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