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Politics : Stockman Scott's Political Debate Porch
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To: re3 who wrote (352)6/11/2002 12:45:55 PM
From: Jim Willie CB  Read Replies (2) of 89467
 
USdollar still not rising, no Gold drop confirmation

quotes.ino.com

Barrick Hedgebook has dropped $400M just in Q1
how much has it dropped in Q2 ?
during this quarter, gold has risen from #290 to #320 (now #317)
that has been estimated to be costing HedgeBook $250M minimum
I expect shareholder lawsuits before long against Barrick mgmt

these guys are ALL from finance, not mining
they operate a HedgeFund with gold mine assets
their story will end very badly, but all in time

if you harbor added juicy info about this pig, I'd love to hear it
on finances, on hedgebook details
very difficult to infer on details
analysts did some math on exposure, and a nice job
I find their naked puts two years out to be the most deadly

for a decade now this has been two companies
one a hedge fund, the other a mining venture
the hedge fund has completely dominated all aspects of business
a total parasite beholden to declining gold prices

Barrick well deserves its death later this year
or next year
or whenever
but its death is written in stone
the unfolding events will be extremely interesting to watch
whether they are sacraficed by JPMorgan etal with margin calls on their socalled "perpetually rollable" contracts?
whether Federal Reserve refuses another open "auction", thereby forcing margin calls?
or several near-death experiences, more lies to public with hidden balance sheet?

THIS WILL NOT BE PRETTY
BUT IT WILL BE HILARIOUS AND FUN
/ jim
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