This article is irrelevant to a producer that has 5 times the reserves needed to deliver to their forward sales in real gold.
All Barrick must do is deliver 18 million oz to cover the gold loans, if the counterparty remains solvent. All this is revealed in Barricks financial statements,...have you bothered to read Barricks financial statments?
Tell me why that will bankrupt them, or why they will not be able to accomplish this a little bit every year for 15 years under any circumstances?
What Morgan and others owe to Morgan is irrelevant to Barrick, and the fact that you and others want to bring this into play shows you either do not read, or do not understand what I have written, or what Barrick has written in their financial statements.
If Morgan is the counterparty to Barrick on the gold loans, and Morgan goes bankrupt and defaults on the bonds owed to Barrick for the proceeds on the gold Barrick borrowed from them,... do you know what happens to the gold Barrick owes them? I don't think you do, or you wouldn't give a crap for Morgan or Morgan counterparties.
I'll give you a hint,...Barrick gets to keep the gold,... they lose the bonds,...but of course gold is going up to $1000 right,...so Barrick hopes that Morgan fails as a $345 per oz notional gold value bond becomes a $1000 per oz spot sale.
Do you understand this? |
