GOLD and RothschildSubmitted by BlueEagle on Wed, 10/15/2008 - 15:24
One more reason the price of gold is being held down.
Two of the largest gold companies Barrick and AngloGold Ashanti have pre-sold millions of ounces gold still in the ground.
Why would these gold companies forward sell such large amounts of their gold and lose billions? Could it be because they didn't think the price of gold would go up?
OR could it be that one of their members of the International Advisory Board is The Hon. Nathaniel Philip Victor James Rothschild, heir to the throne of the House of Rothschild.
The follow excerpt is from HOW TO SURVIVE THE CRISIS AND PROSPER IN THE PROCESS TIME OF THE VULTURE by DARRYL ROBERT SCHOON
"Both Barrick Gold and AngloGold Ashanti have pre-sold millions of ounces of gold that are still in the ground to be delivered at now below-market prices. Both Barrick Gold and AngloGold Ashanti have
forward-sold so much gold, their selling (1) forced down the price of gold, and (2) it obligated them to deliver gold at below-market prices. And, as the price of gold rises, so too will their losses, already in the billions of dollars
The excuse of management is that forward-selling allowed Barrick and AngloGold Ashanti to prosper during times of low gold prices. On the surface, this might appear to be true. But, down below where gold is actually mined, another less justifiable reason surfaces.
The massive forward selling of gold by Barrick and AngloGold Ashanti had an enormous downward effect on the price of gold. Many believe that this was the actual, intended, result of two of the largest gold mining companies in the world, a result aligned with the Central Banks’ war on gold.
Observers and shareholders alike watched in disbelief as the massive forward-selling (known in the industry as hedging or shorting) by Barrick and AngloGold Ashanti drove down the price of the very product they were mining."