Just Who Is Short Gold Miners?

Get a very close look at the type shorting gold miners.

An inexperienced NY hedge fund speculator who has no ability to discern whether gold is in a bubble or not, laying on financial risk in a financial system with immense systemic risks.

And yet, Golden Band's management is pandering to this same interest by agreeing with this absolute twit that gold is fairly valued at ~$800/oz. And at the same time, deferring to the bond holders' interest by withholding material information from the shareholders for months on end.

One would say that Golden Band Resources is having its arm twisted by this kind of speculator, because they buy an equity swap(essentially a lien) held against the price decline in GBN.V shares and own all of the risk. Derivatives trading has made this possible. As long as the price goes down, they're in the money.

That NY City's favourite sons-in-law, who don't know what they're talking about, are laying on financial risk and that when they are on the wrong side of the trade can phone up Netolitzky and tell him he can't release any pertinent information, because they bet the wrong way. (they also post bearish misinformation on stockhouse)

And then they have the nerve to come on television without the slightest embarrassment and inform people that gold is in a bubble and that they're shorting gold miners. They don't say exactly which company it is, because they don't exactly know what they bought when they took on the equity swap.(if that's what the financial risk asset is called.) Either that, or this chap has first been selling millions upon millions of shares without first owning any, and then buying financial risk assets with the money.

And yet Canada is a country where you can buy gold bullion and not be taxed, which is sitting on prolific gold mining provinces. And Canadians are buying gold mining shares as a way of investing in gold. Any business paper in Canada will openly discuss gold and gold mining because mining is an essential part of Canada's economy. The gold has to come out of the mine before it can show up in the ETF vault.

And this fellow expects people to believe him, who has no idea of what it means to actually work. Astonishing.

BNN.CA

http://watch.bnn.ca/thursday#clip441760

Interview with James Turk

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/4/2_James_Turk.html

-F6