Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (2087)	9/22/2000 9:08:43 AM
From: nickel61	of 3558

It is the access to the extensive reserves and production of Barrick that allows the writing of tens of millions of ounces of derivatives or paper gold that then can be sold into the spot market and drive it down. Without this collaboration the bullion bankers would have a much harder time manipulating the market. Barrick is not alone in this unholy alliance but it is one of the most aggressive. Just like the spot price of oil is dramatically effected by the existence of a Strategic Oil Reserve that can be used to modulate supply the Barrick reserves are used to allow the aggressive creation of "virtual gold" to depress the gold spot price and enrich the groups that have sold gold short in a gold carry trade that makes them billions if the price falls before they have to repay their low interest loans. For their enrichment the gold industry and it's investors have been destroyed. People on this thread that want to obscure that fact are doing so for the parochial interests of a small group of insiders at the expense of the rest of the gold industry and its shareholders. Knowledge will set you free and exposure is the only weapon against collusion and malfeasance in government.

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