"Don Tiberone" wrote in message
news:cnqo3k$kp4@dispatch.concentric.net...
> Phil Scott wrote in message
> news:y8Vnd.24094$6q2.21407@newssvr14.news.prodigy.com...
>
> > Those investing in some gold stocks. the few honest ones,
such
> > as Homestake and a few others, might to well. Those
holding
> > gold coin should retain the value of thier asset.. Those
> > margined on good gold stocks *might get rich...or loose it
all
> > to manipulators as they fail to make margin calls. My
view is
> > that at least 50% of gold stocks are utterly bogus (the
cult
> > of scientology and its inside players dominate many
aspects of
> > the dirty side of the fake gold mine bidness)
>
> Homestake doesn't exist anymore. They got bought out many
years ago by ABX,
> who along with JP Morgan, are getting sued for manipulation
of the gold
> markets. ABX is going to go bankrupt as gold goes higher
considering they
> hedged about 13 million ounces of gold at around 300. The
higher gold goes,
> the more money lose from their hedges. There's already been
a couple of
> hedgers that blew up in the past few months alone.
Just goes to show you.... its messy. If they dump the
hedge now they loose only 15 million dollars. they should be
able to handle that. Its hard to fathom that with GWB
printing more and more money as we are exporting our jobs and
industry, that gold will do anything but soar. One has to
wonder just what the gentle folk at ABX were thinking when
they did that hedge.
Phil Scott
>
> --
> "The first panacea for a mismanaged nation is inflation of
the currency; the
> second is war. Both bring a temporary prosperity; both bring
a permanent
> ruin. But both are the refuge of political and economic
opportunists."
>
> - Ernest Hemingway
>
>
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