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Politics : Welcome to Slider's Dugout
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To: Bruce Robbins who wrote (19166)9/8/2009 8:05:28 PM
From: SliderOnTheBlack4 Recommendations  Read Replies (3) of 50198
 
re: Barrick throwing in the towel on it's hedge book...

Barrick is a very politically connected company via
Peter Munk. And I mean central bank/Rothschild
connected.

Munk's connected to the Rothschilds (Nat, Jacob) through
both Atticus Capital and TriGranit... see Muckety,
it's a great tool...start clicking.

muckety.com

That's great news for gold, more so on who it came from,
and what it means, than the amount of gold involved.

My fear has always been that ABX & NEM would merge and
then start massive forward sales.

It's looks like it's now a story of managed descent
for the dollar. And the trade will be to fade gold
and gold stocks when they get too far ahead of
the dollar's descent, and buy it back on the pullbacks,
or on any dollar bounce.

I still think when we see big gap up opens like we've seen
over the last couple of days on big volume from the
China story, you have to fade into it. Because any time
new money arrives in size on a story, once they establish
their positions, that buying pressure abates and we get
pullbacks not so much from selling pressure, but from
the absence of buying support.

Only time will tell how big this move will be from
the Chinese government encouraging the purchase of
physical gold and silver. Better than creating
another bubble in their stock market.

Here's the video by the way...

youtube.com

SOTB

PS: Gold is up + $4.50 after hours.
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