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

To: surfbaron who wrote (51110)	5/8/2002 4:20:29 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

jerk: Barrick covering hedges will force feeding frenzy I doubt it will be all that selective on miners except heavily hedged miners will be excluded more importantly it might lead to a run on available physical gold Barrick has denied, must deny, or else risk frenzy affirming would lead to rising price for their targets the only backdoor I see for Barrick is central bank sales but that is a lot of gold to cover there is NO DOWNSIDE for gold funds if Barrick unwinds covering hedges involves BUYING gold futures contracts back they sold forward, now must buy back at higher prices this is an utter disaster for hedged miners some will go out of business heavily hedged miners are nuclear waste but their hilarious desperation will assist gold longs / jim