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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Wharf Rat who wrote (52109)5/28/2002 10:49:20 AM
From: Jim Willie CB  Read Replies (1) of 65232
 
ouch NEM acqd hedges... dollar dropping, look out below
in every way shape form considered, forward gold sales are corrosive and acidic to balance sheets
thanks for passing this Newmont news item
imagine what happens to miners who have this all over their books
I smell bankruptcy for Barrick
Placer Dome has 11% of their gold trapped in hedged sales
Barrick's will be hidden in offbalance books
I read that their shareholders are demanding more disclosure
what a sorry bunch of fools
and their creditors are demanding margin money, as in margin calls

dollar is descending again
quotes.ino.com
precariously near breaking below support at 111-112

and gold is holding on to the 320 handle
/jw
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