PGMBOY-POGDr. harry.
excellent discussion on gold. i'm green here but in several financial texts,i've found it hard to get a good definition of money. lots of "medium for exchange", but not what it IS: a promise to pay against an asset. the banks loan each dollar on deposit 20X. what does this mean? I've said before that every citizen of every currency should have gold as a safe haven. too much cream taken off the top in international finance and where/what are the assets for all the$?
Barrick's hedging made them alot of money, and allowed them to grow. quite a brilliant set up really.Lots unhedged. i don't think unwinding the hedging is a big a problem, unless it gets political.
win