Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2438)	4/30/2002 12:06:57 AM
From: russet	Read Replies (2) of 3558

Your problem is you assume Barrick's profits depend on the US dollar. They don't. They depend on the value of gold in relation to all currencies because Barrick looks at the world and hedges accordingly,...and are not U.S. centric like most gold fanatics. It would be interesting if they decided to strive to obtain the same weighting in gold for their reserves that the US Government has(55%) Excuse me,...but if you are saying by this statement that the US government has 55% of their foreign reserves in gold, I'm going to tell you, you are really full of shit,...and I mean shit. I can tell you with certainty that the Chinese government has most of their reserves in weapons and warfare,...and so does the U.S. Simple fact is the US economy is the world's economy and I believe you are a US citizen so I can't believe you are trying to undermine the economy that is responsible for all your wealth. If you lived in China you would likely be nothing, a peasant. You blow me away. Thank god the U.S. is the strongest economy, and English is the dominant language in the world's economy or where would people like you, and me be?!? The U.S. is half the world's economy and innovation. Screw with that, and you diminish yourself.

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