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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (51108)	5/8/2002 3:07:58 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

yes, Barrick is pursuing AngloGold of SoAfrica and Anglo's response is to completely unwind its hedge book which has helped in buyside gold demand actually, I think this represents a sentinel signal to other hedged miners to cover their stupid shorts damn, I see gold=350 very quickly that is all on the paper side of the gold world two vastly different worlds: paper and physical the paper action will be symptomatic, not causal the real pain comes from the mark2market value of those massive naked shorts each $1 rise in gold physical translates to huge added losses that is where the changes will be forced let Barrick bid up shares of AngloGold and let the market bid up all miner shares in response that tactic wont allow a graceful exit for Barrick and its unprecedented irresponsible Premium Sales Program I see shareholder lawsuits down the road against Barrick the bigger they stand, the harder they fall I read that heavily hedged miners will have a first-in-line buying opportunity from central banks !!! however, I EXPECT THE CENTRAL BANKS TO SCREW THE MINERS that will give them plausible deniability during the scandal but it will be a weak leg to stand on for GreenShit / jim