Antitrust Suit Filed Against Barrick And Jp Morgan

[Guest sigmoidoscope]

Just let them get to the discovery process.

 

I like this suit. It is much more focused on defined business issues than Reg Howe's suit, which dragged in the Feds.

 

 

Antitrust lawsuit filed against Barrick and JP Morgan

[Hypertiger]

Is George Bush Sr. still a director at Barrick?

[Guest sigmoidoscope]

Gold's up another 4.40 after hours. The bid is at 346.20.

 

Dollar spanking continues tonite.

[Guest sigmoidoscope]

Gold is up $6.10 to $348 bid.

 

This is starting to look a little.....ominous?

[DogBoy]

I said on this site that Gold would at some point resemble the Naz chart form Oct 98 to Mar 00 and it's starting to look just that way.

 

Gold will become a runaway Bull market just like the Naz and everyone will want a piece of the action.

 

And the recent downdraft in Gold since last summer was in ny view a shake ot just like the great tech shake out in Oct 98.

 

It effectively separated the real Gold Bullz like myself from the neer-do-wells who never can quite get up the courage to take the risk.

 

Gold is a once in a lifetime (now twice since the Naz Bull) opportunity to make a fortune.

 

The only question remaining is whether Babwa Wawa will interview the new Gold Millionaires on 20/20.

 

Or whether they'll be arrested and flogged by Jim Cramer and Larry Kudlow.

 

Just kidding on the last one !!! I love to f--k with the minds of the conspiritorial ones among us.

 

And as I predicted GATA had nothing to do with this. What bunch of dopes.

[roidrage]

Is George Bush Sr. still a director at Barrick?

Glad you asked. As of the 2001 annual report, no.

rr

[roidrage]

With these bids, goodbye contango hello backwardation. Let's see what the fuctures and forwards do tomorrow. Better yet, I'll check asiazilla now...

 

rr

[Guest sigmoidoscope]

He's an 'advisor.'

 

Here's some dirt from the dems on the Bush-Barrick connection.

 

Bush-Barrick

[PileDriver]

Indeed Dogboy, I too said that to a friend in March who said "Gold? f#@k gold!?" Then I knew for sure gold was a buy.

 

Stay long gold and PMs until a PM ETF comes out and Joe six start chasing it - the kiss of death.

 

I do recall the QQQ's came out in 1999. Perfect timing.

[Guest sigmoidoscope]

Barrick dismisses anti-trust allegations

 

 

Blanchard Lawsuit and Comments

 

 

TORONTO, Dec 18 (Reuters) -- Blanchard and Co., a U.S. gold and coin dealer, said on Wednesday it had filed an anti-trust lawsuit against Canadian miner Barrick Gold Corp. and J.P. Morgan Chase & Co. for manipulating the gold price, but Barrick dismissed the claims as "ludicrous."

 

New Orleans-based Blanchard said in a statement distributed by Business Wire that its anti-trust suit accused Barrick, the world's second-largest gold producer, and U.S. financial services firm J.P Morgan Chase of making $2 billion in short-selling profits by suppressing the price at the expense of investors.

 

[snip]

 

Blanchard's statement said the lawsuit alleges that in the past five years Barrick

and J.P. Morgan Chase injected millions of additional ounces of gold into the market, or several times more than the annual production of every gold mine in South Africa, the world's biggest gold producer.

 

[snip]

 

Blanchard said its suit claimed that by using privately negotiated derivative contracts and concealing additional billions of dollars worth of physical gold with off balance sheet accounting, Barrick made it virtually impossible for gold anal cysts and investors to determine the size and the market impact of

its trading position.

 

The lawsuit further alleges that J.P Morgan Chase financed Barrick's repeated short selling with advantageous terms not available to others, including deferred repayments and no margin calls, Blanchard said.