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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: P P Bravo who wrote (39616)	8/26/1999 5:26:00 AM
From: d:oug	Respond to of 116836

P P Bravo, is there anything new here, or just a rewrite of the last dud ? From: Alex Sunday, Jun 27 1999 (Gold Price Monitor) ... a distinct federal agency, the Commodity Futures Trading Commission (CFTC), whose chief responsibility is to prevent manipulation and fraud.. ... Barrick Gold Corp ... has contributed mightily to the manipulation in gold and silver. The principle violation revolves around an obvious and intentional evasion of the rules and laws of the CFTC. Specifically, by utilizing the leasing/forward sale mechanism, Barrick has been able to short sell many times what the legal limit would be on a US futures exchange, according to the clear intent of commodity law. According to commodity law and the clear intent of that law, Barrick Gold would never have been able to ... What Barrick has done, aided and abetted by the CFTC, is literally destroy the very nature of hedging ... ... you can't lease an item, consume or sell it, and pretend it can be returned in a deficit - that's fraud. Barrick has additionally destroyed the concept of hedging by adopting a policy of never, ever covering a physical short sale... Ted Butler, June 27,1999 - The Death of Hedging gold-eagle.com ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ From: DoubleD Sunday, Jun 27 1999 (Gold Price Monitor) Au contraire - Butler is a devil (of a fool) who obviously has in in for Munk and Barrick - and may be opening himself open for slander here - in fact I will bring his piece to Barrick's attention tomorrow. The point is this - Barrick is a true hedger - not a speculator - the gold sales are secured - period. d ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ From: Ron Everest Sunday, Jun 27 1999 (Gold Price Monitor) Agree, this article by Ted Butler appears to have many incomplete statements contained in it. I have forwarded it to ABX but likely they will have their legal people on it right now. The ABX forward deals are 100% covered off in all directions with no risks apparent to the CBs, GBanks or ABX. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++