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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: nickel61 who wrote (1500)	12/4/1999 7:46:00 PM
From: Enigma	Read Replies (1) \| Respond to of 3558

So enlighten us please or cease these irrelevant generalities on this thread.

To: nickel61 who wrote (1500)	12/6/1999 8:50:00 AM
From: nickel61	Respond to of 3558

Thanks, I think there is a co-ordinated effort to bury the price of gold, for reasons that I have not been able to satisfy myself I fully understand. Part of it is clearly the pure greed of the "gold carry trade" which are speculators that borrow gold from the Central Banks and sell it in the market using large leverage and then use the proceeds to invest elsewhere at high returns. The 1% lease rate they pay on the borrowed gold versus the 6% or greater rate they earn on the money gives them a nice spread and using 40 to 1 leverage they make this margin multiply many times. There are obviously others who want gold to go lower and I am afraid that Barrick appears to be among this group. The actions of American Barrick's management has hurt the gold market significantly by selling forward over 500 tonnes.I can't say with certainty what their motives are but I do feel that their shareholders should be aware of the full magnitude of their actions and the costs this has for the shareholders of ABX and all gold producers world wide. Cheers