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Barrick management may be slow, but it is a good time for a gold miner to do some capital raising.

 

I am long gold mostly physical and some shares (15%)

 

Thanks TJ for posting this news, although I never feel comfortable when CNBC shills talk my book. Probably time for a short-sharp pull back in gold to get rid of the weak hands before a decisive push beyond $1000.

 

CNBC Breaking News

 

Barrick to do $3 billion equity sale to pay-off remaining hedges

 

To take $5+ billion charge

 

CNBC starts screaming BULLISH BULLISH BULLISH !!!!

 

Great for gold !!!!

 

Great for Barrick !!!

 

EXTREMELY BULLISH !!!!

 

_____________________________

 

Trader Joe: You azzholes are kidding.....right?

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CNBC Breaking News

 

Barrick to do $3 billion equity sale to pay-off remaining hedges

 

To take $5+ billion charge

 

CNBC starts screaming BULLISH BULLISH BULLISH !!!!

 

Great for gold !!!!

 

Great for Barrick !!!

 

EXTREMELY BULLISH !!!!

 

_____________________________

 

Trader Joe: You azzholes are kidding.....right?

 

And any player buying back $3 billion of short futures is not bullish for gold because ...?

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Bank walkaways! The irony of it all.....

 

 

A Bank walkaway is simply a home that the bank started foreclosure proceedings, set a date for a sheriffs sale, and then canceled the sheriffs sale at the last minute leaving the property title in the home owners name. In some cases the home owner doesn't even realize that the home is still in his or her name.

 

Renetta Atterberry thought she had lost her East 102nd Street house. So she was shocked to learn in January -- five years after her mortgage company filed for foreclosure -- that it was still in her name.

Worse, the long-vacant rental home had been vandalized and she faced a raft of housing code violations. Since then, she has been saddled with debts of about $12,000 to pay for demolition and back taxes.

 

Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox.

Ms. James had the tenants move out, and soon her white house at the corner of Thomas and Maple Streets fell into the hands of looters and vandals, and then, into disrepair.

So imagine her surprise when the City of South Bend contacted her recently, demanding that she resume maintenance on the property. The sheriff’s sale had been canceled at the last minute, leaving the property title — and a world of trouble — in her name.

 

http://www.bankwalkaways.com/

 

 

post-4028-1252460773.jpg

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Soon!

might I humbly suggest the consideration of taking one's winnings in partial fashion if possibre, i.e. selling gradually into the strength rather than trying to time the exact peak of the tit on the top

 

such an approach often reamsults in one being able to live with oneself later reamgardless of how the particular manipulation/speculation in question ultimately blows up, aSS all do eventually

 

having disreamgarded said advice mineself on more than one significant occasion in the paSSt, I currently am unable to live with myself, although I hope to be able to move back in after the autumn $craSSh

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$3 billion is HOW many contracts?

A contract is 100 oz (so nominal value $100K), but no idea how the hedging mechanics work. Do they settle short futures with their physical production? The NYMEX position limit is something like 6K contracts, there must be something more complex at work. I dunno.

 

ABX was always tainted by their hedging in the goldbug world. Would be funny if they shed them, via dilution, right at an IT top.

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might I humbly suggest the consideration of taking one's winnings in partial fashion if possibre, i.e. selling gradually into the strength rather than trying to time the exact peak of the tit on the top

 

such an approach often reamsults in one being able to live with oneself later reamgardless of how the particular manipulation/speculation in question ultimately blows up, aSS all do eventually

 

having disreamgarded said advice mineself on more than one significant occasion in the paSSt, I currently am unable to live with myself, although I hope to be able to move back in after the autumn $craSSh

And what he SSaid.

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A contract is 100 oz (so nominal value $100K), but no idea how the hedging mechanics work. Do they settle short futures with their physical production? The NYMEX position limit is something like 6K contracts, there must be something more complex at work. I dunno.

 

ABX was always tainted by their hedging in the goldbug world. Would be funny if they shed them, via dilution, right at an IT top.

Kinky Over The Counter unregulated exotica.

 

Not that there's anything wrong with that.

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