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

To: Enigma who wrote (45339)	11/27/1999 9:15:00 AM
From: tyc:>	Read Replies (1) \| Respond to of 117044

Ah ! Perhaps you would enlighten us about the hedge program ! In particular: 1. Does this company have an OBLIGATION to deliver gold ? In my country, an obligation to deliver is called a DEBT. In dollar terms this DEBT is OPEN ENDED because it depends on the future price of gold. Offsetting this open-ended debt is a fixed amount of fiat currency (the price at which its bullion bankers shorted borrowed gold) plus accruing interest. The amount of interest accruing will be LESS than treasury rates for it is reduced by the gold lease rate. This simple transaction allows them to spuriously claim they have obtained a higher price for their gold than the spot price ! 2. Do you think that most investors in gold (shareholders) would consider this a good investment; A DEBT of gold offset by a fiat credit plus interest accruing at less than treasury rates ?