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[Ognir]

Paulson group buys into AngloGold

By Michael Kavanagh and James Mackintosh in London

Published: March 17 2009 20:07 | Last updated: March 17 2009 20:07

Paulson & Co spent $1.28bn buying Anglo American's stake in gold miner AngloGold Ashanti on Tuesday as the New York hedge fund moved from betting against banks to betting against governments.

Paulson, founded by billionaire John Paulson, bought 11.3 per cent of the Johannesburg miner as part of its bet that gold benefits as paper currencies suffer from the financial crisis and from governments printing money.

Mr Paulson has become one of the most closely followed hedge fund managers after his bet against subprime mortgages became the most profitable trade in history in 2007, securing profits of more than $10bn for his funds.

Gold is a traditional safe-haven purchase and has become increasingly popular with hedge funds this year as they worry about paper currencies being debased, causing inflation.

The deal comes as a surprise as Anglo American said last month it intended to "remain a significant shareholder in AngloGold Ashanti in the medium term".

But on Tuesday Anglo American said disposal of the stake to Paulson was consistent with its stated intention to dispose of "this non-core holding".

Mark Cutifani, AngloGold chief executive, welcomed Paulson as an investor. "As the world deals with the global economic crisis the value of gold, as the only true 'hard currency', is coming to the fore, as evidenced by the investment choices of some of the world's most seasoned investors." AngloGold was created in 2004 through the merger of Anglo American's gold mining operations with Ashanti Goldfields Corp.

Paulson said in a statement: "We believe AngloGold is one of the best managed and undervalued of the major global gold mining companies. We look forward to the implementation of their global expansion strategy."

The deal will help pay down net debts at Anglo American, which stood at about $11bn at the end of 2008. Shares in the company, led by chief executive Cynthia Carroll, traded close to £36 last May during the commodities boom, but have since slumped, and closed down 37p at £11.16 on Tuesday.

Anglo American, a miner of coal, platinum, diamonds, copper and other industrial metals, signalled tougher trading last month as it scrapped dividend payments and announced 19,000 job cuts.


http://www.ft.com/cms/s/0/af0e54aa-132d ... fd2ac.html

[Bocephus68]

Ognir:
Again, I had another post with the same dead horse I am  going to  beat again. Here is my dilema. IF the big boys are going to gold folks like Paulson should we not pause?? I bought gold already. But take a look at this article  

http://www.themoscowtimes.com/article/600/42/375364.htm

Putnin wants a global currency. In fact there are calls for a gold backed currency here in America. My concern is these bankers own the game. They own most of the gold. So is this another trap?

The theory is things will get so bad we will use gold to barter. Well lets face it there is not enough gold to go around to have this. So would it not be plauseble that they will let the market rise and then sink it. This will scare all the weak folks out of Gold and they will just increase there holding. Then when the time is right they will outlaw ownership of gold. The dollar crashes(speaking of America now) then at that point they have there new gold backed currency ready. So in essance Gold will not be of use because they put out a new currency.

I am really trying to think outside the box. These Zionist bankers own the game. We can participate because they say we can. Again, these folks are not morons. They have been at it way  way to long. I realize I am beating a dead horse but something is wrong. When I see the Paulson group buying into these gold mines. But again, my guess is they will keep smashing the price of gold down at intervals and shaking all the  little folks out and they will continue to buy up more gold.  Again these guys are not fools. They are putting gold out there in the headlines.

Anyway, that is just my thinking out loud. But there is a problem here.  When I see these big guys moving into Gold. They know more on this than you or I. So I guess we procede with caution.

Bocephus

[Rockclimber]

I have said the same...a gold standard calls for lots of gold. How do they get the gold they need for the standard? Re-enact gold confiscation laws. Gold could become 'illegal' to own again some day.

I say keep poor mans gold around-silver-for barter only.  Not that the same game can't be played, but silver is easier to barter with than 1-ounce gold coins and I doubt silver will be confiscated any time soon.

Also buy items of absolute necessity-lots of them-for barter.

They're crafty, deceitful, DOWNRIGHT EVIL bastards. The only true solution is to remove them from power (have them arrested) and CONFISCATE their wealth and return it to the people to "whom it rightfully belongs". This is the only solution.

Ognir:
Again, I had another post with the same dead horse I am  going to  beat again. Here is my dilema. IF the big boys are going to gold folks like Paulson should we not pause?? I bought gold already. But take a look at this article  

http://www.themoscowtimes.com/article/600/42/375364.htm

Putnin wants a global currency. In fact there are calls for a gold backed currency here in America. My concern is these bankers own the game. They own most of the gold. So is this another trap?

The theory is things will get so bad we will use gold to barter. Well lets face it there is not enough gold to go around to have this. So would it not be plauseble that they will let the market rise and then sink it. This will scare all the weak folks out of Gold and they will just increase there holding. Then when the time is right they will outlaw ownership of gold. The dollar crashes(speaking of America now) then at that point they have there new gold backed currency ready. So in essance Gold will not be of use because they put out a new currency.

I am really trying to think outside the box. These Zionist bankers own the game. We can participate because they say we can. Again, these folks are not morons. They have been at it way  way to long. I realize I am beating a dead horse but something is wrong. When I see the Paulson group buying into these gold mines. But again, my guess is they will keep smashing the price of gold down at intervals and shaking all the  little folks out and they will continue to buy up more gold.  Again these guys are not fools. They are putting gold out there in the headlines.

Anyway, that is just my thinking out loud. But there is a problem here.  When I see these big guys moving into Gold. They know more on this than you or I. So I guess we procede with caution.

Bocephus