To: rohry
I am a BIG supporter of the 2nd amendment. You are clearly grasping at straws.No, I'm not. You're demanding to know the details of private contracts--even as you claim to know those details.
51 posted on
12/18/2002 4:56:41 PM PST by
Poohbah
To: Poohbah
You're demanding to know the details of private contracts--even as you claim to know those details. Actually, Blanchard is asking to know the details. They are claiming that JPM and ABX (among others) sold more gold on paper than the market could handle with the intention of driving down prices. During this time ABX may have profited from the purchase of miners at fire sale prices (Homestake being one of them).
If it was illegal for the Hunt brothers to corner the silver market on the long side in 1979-80, then it should be illegal for bullion banks to do the same on the sell side.
Proving this is going to be difficult for Blanchard. Barrick's hedge book is public information though not entirely transparent. Blanchard will have to prove collusion with intent between JPM and other hedgers.
53 posted on
12/18/2002 5:10:51 PM PST by
larrysav
To: Poohbah
"You're demanding to know the details of private contracts..."
Buying a gun is a private contract supported by the Bill of Rights. But the market price of guns is transparent and easily researched.
Trading financial contracts on a public exchange should be transparent to people buying on those exchanges. The people manipulating gold have no such transparency. Also the government has been obfuscating the details of the amount of gold that we (as citizens) supposedly own. Our gold has been sold to support this market!
54 posted on
12/18/2002 5:14:59 PM PST by
rohry
To: Poohbah
We need to write a gold bug thread FAQ, so that we don't have to waste our time every week.
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