How much truth is in this?
Flash
Posts: 1,090 ✭✭✭
This is an email I received today from Blanchard & Co. What is your opinion on this? Is this just a bunch of BS being thrown around as a sales gimmick, or is there a grain of truth to it? If so, how much truth?
Eric J. Olson
Account Executive
Blanchard and Company
1-888-885-4653
ejolson@blanchardgold.com
www.blanchardonline.com
What is Gold?
* Gold is a store of value.
* Gold is financial insurance.
* Gold is a hedge against inflation.
* Gold is the foundation of wealth.
* Gold is calamity insurance.
Are Those Statements True or False?
Those statements are FALSE!
* Every one of those statements is FALSE!
* Every one of those statements used to be true!
* They were all true until Barrick came into the picture.
Barrick?
* Barrick has gone from a start-up company in 1983 to the most profitable gold mining company in the world.
* Barrick is undermining the value of gold.
* Barrick has profited in the last 58 consecutive quarters from shorting gold.
* Barrick sells physical supply into the market in such quantities that it causes gold prices to decline.
* Barrick’s short position is nearly double the annual production of South Africa, the largest gold producer in the world.
* Barrick has a short position of gold that is approximately 80 times that of the COMEX limit.
* Barrick has worked out a deal where they can defer repayment for up to 15 years on their short sales.
* Barrick has no margin calls at any gold price.
* In the last six years gold has fallen 31.5%.
* During that time Barrick has increased its short position by 260.3%.
* For 2000 and 2001, Barrick’s additions to its short positions were more than twice as much as Global Investment Demand for 2000 and 2001 combined.
* Barrick’s short position in 2001 was over 5 times that of their annual production.
* Barrick’s Chairman says, “We are not in the gold business because we are in love with gold. We are in the gold business to make money for our shareholders.”
How does this affect Gold?
It makes gold go down!
* The average annual price of gold has declined from $387 in 1996 to $271 in 2001.
* Over the past decade the price of gold has declined by over 25% while Barrick’s cash flow has increased by over 400%.
Money for Shareholders?
* If Barrick’s shareholders are making money by Barrick shorting gold, someone has to lose.
* The people who are losing are gold and tangible asset investors like you and me.
Is Hope Lost?
* No, hope is not lost.
* This can be fixed and gold will be allowed to do what it is supposed to do.
* Blanchard is preparing to take legal action against Barrick on behalf of gold investors.
*n The goal is to stop Barrick from manipulating gold prices.
What is gold supposed to do?
* Once Barrick is stopped, gold will be free to do what it is supposed to do.
* Once Barrick is stopped, gold will be able to do what it has done in the past.
* From the beginning of 1988, when the price of gold stood at $500, U.S. inflation has increased by 52%. Gold would be at $760 if it had been allowed to keep up with the rate of inflation.
The Future Is Bright
* Barrick will be forced to unwind its short position.
* Gold may go up $100 per ounce, $200 per ounce, $400 per ounce, or even higher. Who knows?
* Supply and demand fundamentals will allow gold to be the ultimate financial insurance.
* Gold will be allowed to return to its appropriate price levels.
* Investors will regain confidence in gold!
How do you take advantage of this?
* If you have bought gold bullion in the past, stay in contact with your account executive to be updated on legal developments.
* If you own gold or tangible assets, be prepared for the value to increase.
* If you do not have a hard asset portfolio, get one!
* Get one now!
Get One Now
* We are getting ready to see what may be the single largest and most significant victory in history for the gold bullion and rare coin market.
* Prices will increase.
* Instead of Barrick having the upper hand, the advantage will be yours.
You Should Act Quickly
* Think about liquidating under-performing stocks.
* Think about using cash you have on the sidelines.
* Look at putting together a hard asset portfolio.
* Look at adding to your existing hard asset portfolio.
Imagine
* Imagine the return of investment demand.
* Imagine the demand for these investments.
* Imagine the pressure on supply.
* Imagine the growth that will take place in this area.
* Imagine what $760 Gold would do for this market.
* Imagine what $760 Gold could do for you.
Timing
* The timing is right.
* The time is now.
* Now is the right time to build your hard asset portfolio.
* You will have time to count your profits later.
CALL BLANCHARD TODAY 1-888-885-GOLD
BLANCHARD AND COMPANY, INC.
MEMORANDUM
TO: Account Executives
cc: HET
FROM: DWD, Jr.
DATE: October 15, 2002
RE: Barrick Gold Corporation - Information for Our Clients Only
“Barrick has one of the most complicated financial statements I have ever seen. Buried deep in the footnotes are statements about its hedge book that make Barrick look more like a highly leveraged derivatives player than a mining company, and the risks of these hedges cannot in my view be adequately quantified.”[1]
An October 11, 2002 article in the Financial Times of London discussed the absence of readily understandable information in Barrick’s financial statements: “Barrick is only partly a gold mining company. The other part is a large investment company whose accounting codes probably cannot be broken by the National Security Agency, let alone investors or journalists.”[2] In fact, the key to those codes can be found in the Form 40-F filings that Barrick has to make with the U.S. Securities and Exchange Commission.
The following is summary information about the measures used by Barrick to conceal its short sales of gold and the nature and extent of those short sales. The information is important for an understanding of how Barrick has managed to manipulate the price of gold - to produce a price that does not reflect basic forces of supply and demand - and how it has been able to conceal that manipulation.
Barrick’s short positions:
* Are not the subject of clear and understandable disclosure that would enable analysts and investors to assess their impact;
* Are made using over-the-counter derivatives, rather than contracts traded on regulated exchanges, thereby avoiding disclosure, regulation, and the imposition of speculative position limits;
* Are treated as off-balance sheet assets that are not reported on Barrick’s balance sheet, contributing to gross errors in the supply/demand statistics relied on by many gold analysts, investors and institutions;
* Are supposedly subject to an exception from the accounting rules governing the reporting of derivative contracts, meaning than changes in their fair market value don’t appear on Barrick’s balance sheet or affect its reported earnings;
* Are accompanied by representations made by Barrick that are negligently or deliberately misleading;
* Are designed so that the negative impact on the price of gold is not offset by repayment, since Barrick can defer repayment for up to 15 years;
* Are designed so that there are no margin calls, meaning that there are no cash-flow consequences for short-term changes in their fair market value;
* Are not made in regular, limited amounts but oscillate wildly to levels that are sometimes as much as six times Barrick’s annual production; and
* Are the subject of derivative contracts that are negotiated and executed well in advance in order to provide almost insurmountable obstacles to any extended increase in the price of gold.
However, the most important message to get across to our clients - and our clients only - is the impact on the market that will result from Barrick being forced to close out its short positions:
At the end of 2001, Barrick’s short positions stood at 24.14 million ounces, approximately double the annual production of South Africa. Barrick’s current short sales of gold have already added at least 18.2 million ounces of actual, physical gold to the market, approximately five times annual investment demand for 2000 and 2001. If Barrick is forced to close out all of its 20+ million ounces of short positions, the impact on gold’s supply/demand picture would be the same as if every gold mine in South Africa was shut in for the next 18 months to 2 years. Would gold go up $100 per ounce? It could very well go up $400 or more. Who knows? Other tangible assets, whose investment demand has been damaged by their identification with gold, would experience similar, but even larger, increases.
________________
DWDJr/dl
CEO
--------------------------------------------------------------------------------
[1] Freemarket Gold and Money Report, by James Turk, July 9, 2001
[2] “Global Investing: Cutting through Barrick’s Hedge,” by John Dizard, Financial Times, October 11, 2002
If Someone Doesn’t Stop Barrick...
We believe that, if someone doesn’t stop Barrick, the price of gold will hit $200 before October, 2004. It may get there much sooner. It may go much lower. Andy Smith, the precious metals analyst at Mitsui Global Precious Metals in London, has been described as “a commodities analyst who comes close to the superstar status of an Abby Joseph Cohen or a Peter Lynch.” Smith recently said that, in 5 or 10 years, the price will be “somewhere below $100.”
Barrick has destroyed an entire generation’s confidence in gold as a store of value and the ultimate in financial insurance. Investors who buy gold either believe that gold prices will rise, or believe that the price of gold in real terms will hold steady or rise while the values of other assets deteriorate. As gold has failed to meet their expectations, investors have come to shun the market. In the 1970s,[1] the investment demand for gold was 38% of total demand. That number fell to 25.5% in the 1980s, and 11.8% in the 1990s.[2]
“Looking ahead, investors may actually shift from being a net source of demand in the gold market, as they have been for most of the past 35 years, to a net source of supply. Investors may become so dissatisfied with the gold market that the amount of gold sold by disenchanted investors could exceed purchases from new investors, creating a net source of supply.”[3]
In Barrick’s annual filing with the U.S. Securities and Exchange Commission, Barrick reported that it had “run sensitivity tests on the impact on our liquidity if spot gold prices fell to $200 per ounce. Based on that analysis, if nothing else changed other than the gold price, we would expect to have sufficient cash flow from operations to cover our cash operating costs, sustaining capital spending programs, existing debt repayments and dividends.”[4]
What Barrick did not mention was that, if the price of gold goes to $200, Barrick would be in a position to realize a windfall profit of more than $2 billion on its existing short sales of gold, and Barrick and its Saudi shareholders would be in a position to buy most of the world’s high-quality gold reserves from Barrick’s competitors, who can’t survive at those gold price levels. In its presentation to stock analysts and investors (as opposed to gold investors), Barrick is candid about the fact that it profits from falling gold prices:
“I’ve made the case for Barrick in spite of the gold industry’s overall weakness. Now - I want to make the case that you should invest in Barrick, not in spite of the gold industry’s general weakness... but because of it. Not only is Barrick getting stronger - much stronger, with the strongest balance sheet and the highest free cash flow in the industry. We’re also directly benefitting from the forces weakening other players.”
Barrick’s CEO concluded his presentation with a slide that stated: “Lower Gold Prices = Acquisition Opportunities.”[5]
Barrick is now saying that it anticipates and welcomes higher gold prices. If you anticipate higher gold prices, do you sell gold or do you buy gold? Obviously, you buy.
Instead, before the end of 2001,Barrick entered into derivative contracts that gave it the ability to short (to sell) up to 6 million ounces of gold if prices rose to levels between $303 and $350. Barrick said it had both “the intent and ability” to exercise its option to make short sales at those prices.[6] Those short sales, when made, add actual, physical supply to the market which serves to depress the price. In laymen’s terms, Barrick planned to slam the market with new short sales of as much as 6 million ounces as soon as the market went higher.
Barrick isn’t planning for the price of gold to go up, at least not for long. It’s planning for the price of gold to go down. The Saudis already own most of the world’s oil. Maybe they want all of the gold, too.
--------------------------------------------------------------------------------
[1] Average annual demand from 1974 (when gold ownership became legal in the U.S.) through 1979
[2] From CPM Group’s Gold Survey 2000 - Statistical Review
[3] CPM Group’s Gold Survey 2002
[4] Barrick’s Annual Information Return, filed on Form 40-F with the U.S. Securities and Exchange Commission on April 29, 2002
[5] Speech by Randall Oliphant, Barrick’s President and CEO to the Merrill Lynch Metals, Mining and Steel Conference, May 10, 2001
[6] Barrick’s Annual Information Return, filed on Form 40-F with the U.S. Securities and Exchange Commission on April 29, 2002
--------------------------------------------------------------------------------
Eric J. Olson
Account Executive
Blanchard and Company
1-888-885-4653
ejolson@blanchardgold.com
www.blanchardonline.com
What is Gold?
* Gold is a store of value.
* Gold is financial insurance.
* Gold is a hedge against inflation.
* Gold is the foundation of wealth.
* Gold is calamity insurance.
Are Those Statements True or False?
Those statements are FALSE!
* Every one of those statements is FALSE!
* Every one of those statements used to be true!
* They were all true until Barrick came into the picture.
Barrick?
* Barrick has gone from a start-up company in 1983 to the most profitable gold mining company in the world.
* Barrick is undermining the value of gold.
* Barrick has profited in the last 58 consecutive quarters from shorting gold.
* Barrick sells physical supply into the market in such quantities that it causes gold prices to decline.
* Barrick’s short position is nearly double the annual production of South Africa, the largest gold producer in the world.
* Barrick has a short position of gold that is approximately 80 times that of the COMEX limit.
* Barrick has worked out a deal where they can defer repayment for up to 15 years on their short sales.
* Barrick has no margin calls at any gold price.
* In the last six years gold has fallen 31.5%.
* During that time Barrick has increased its short position by 260.3%.
* For 2000 and 2001, Barrick’s additions to its short positions were more than twice as much as Global Investment Demand for 2000 and 2001 combined.
* Barrick’s short position in 2001 was over 5 times that of their annual production.
* Barrick’s Chairman says, “We are not in the gold business because we are in love with gold. We are in the gold business to make money for our shareholders.”
How does this affect Gold?
It makes gold go down!
* The average annual price of gold has declined from $387 in 1996 to $271 in 2001.
* Over the past decade the price of gold has declined by over 25% while Barrick’s cash flow has increased by over 400%.
Money for Shareholders?
* If Barrick’s shareholders are making money by Barrick shorting gold, someone has to lose.
* The people who are losing are gold and tangible asset investors like you and me.
Is Hope Lost?
* No, hope is not lost.
* This can be fixed and gold will be allowed to do what it is supposed to do.
* Blanchard is preparing to take legal action against Barrick on behalf of gold investors.
*n The goal is to stop Barrick from manipulating gold prices.
What is gold supposed to do?
* Once Barrick is stopped, gold will be free to do what it is supposed to do.
* Once Barrick is stopped, gold will be able to do what it has done in the past.
* From the beginning of 1988, when the price of gold stood at $500, U.S. inflation has increased by 52%. Gold would be at $760 if it had been allowed to keep up with the rate of inflation.
The Future Is Bright
* Barrick will be forced to unwind its short position.
* Gold may go up $100 per ounce, $200 per ounce, $400 per ounce, or even higher. Who knows?
* Supply and demand fundamentals will allow gold to be the ultimate financial insurance.
* Gold will be allowed to return to its appropriate price levels.
* Investors will regain confidence in gold!
How do you take advantage of this?
* If you have bought gold bullion in the past, stay in contact with your account executive to be updated on legal developments.
* If you own gold or tangible assets, be prepared for the value to increase.
* If you do not have a hard asset portfolio, get one!
* Get one now!
Get One Now
* We are getting ready to see what may be the single largest and most significant victory in history for the gold bullion and rare coin market.
* Prices will increase.
* Instead of Barrick having the upper hand, the advantage will be yours.
You Should Act Quickly
* Think about liquidating under-performing stocks.
* Think about using cash you have on the sidelines.
* Look at putting together a hard asset portfolio.
* Look at adding to your existing hard asset portfolio.
Imagine
* Imagine the return of investment demand.
* Imagine the demand for these investments.
* Imagine the pressure on supply.
* Imagine the growth that will take place in this area.
* Imagine what $760 Gold would do for this market.
* Imagine what $760 Gold could do for you.
Timing
* The timing is right.
* The time is now.
* Now is the right time to build your hard asset portfolio.
* You will have time to count your profits later.
CALL BLANCHARD TODAY 1-888-885-GOLD
BLANCHARD AND COMPANY, INC.
MEMORANDUM
TO: Account Executives
cc: HET
FROM: DWD, Jr.
DATE: October 15, 2002
RE: Barrick Gold Corporation - Information for Our Clients Only
“Barrick has one of the most complicated financial statements I have ever seen. Buried deep in the footnotes are statements about its hedge book that make Barrick look more like a highly leveraged derivatives player than a mining company, and the risks of these hedges cannot in my view be adequately quantified.”[1]
An October 11, 2002 article in the Financial Times of London discussed the absence of readily understandable information in Barrick’s financial statements: “Barrick is only partly a gold mining company. The other part is a large investment company whose accounting codes probably cannot be broken by the National Security Agency, let alone investors or journalists.”[2] In fact, the key to those codes can be found in the Form 40-F filings that Barrick has to make with the U.S. Securities and Exchange Commission.
The following is summary information about the measures used by Barrick to conceal its short sales of gold and the nature and extent of those short sales. The information is important for an understanding of how Barrick has managed to manipulate the price of gold - to produce a price that does not reflect basic forces of supply and demand - and how it has been able to conceal that manipulation.
Barrick’s short positions:
* Are not the subject of clear and understandable disclosure that would enable analysts and investors to assess their impact;
* Are made using over-the-counter derivatives, rather than contracts traded on regulated exchanges, thereby avoiding disclosure, regulation, and the imposition of speculative position limits;
* Are treated as off-balance sheet assets that are not reported on Barrick’s balance sheet, contributing to gross errors in the supply/demand statistics relied on by many gold analysts, investors and institutions;
* Are supposedly subject to an exception from the accounting rules governing the reporting of derivative contracts, meaning than changes in their fair market value don’t appear on Barrick’s balance sheet or affect its reported earnings;
* Are accompanied by representations made by Barrick that are negligently or deliberately misleading;
* Are designed so that the negative impact on the price of gold is not offset by repayment, since Barrick can defer repayment for up to 15 years;
* Are designed so that there are no margin calls, meaning that there are no cash-flow consequences for short-term changes in their fair market value;
* Are not made in regular, limited amounts but oscillate wildly to levels that are sometimes as much as six times Barrick’s annual production; and
* Are the subject of derivative contracts that are negotiated and executed well in advance in order to provide almost insurmountable obstacles to any extended increase in the price of gold.
However, the most important message to get across to our clients - and our clients only - is the impact on the market that will result from Barrick being forced to close out its short positions:
At the end of 2001, Barrick’s short positions stood at 24.14 million ounces, approximately double the annual production of South Africa. Barrick’s current short sales of gold have already added at least 18.2 million ounces of actual, physical gold to the market, approximately five times annual investment demand for 2000 and 2001. If Barrick is forced to close out all of its 20+ million ounces of short positions, the impact on gold’s supply/demand picture would be the same as if every gold mine in South Africa was shut in for the next 18 months to 2 years. Would gold go up $100 per ounce? It could very well go up $400 or more. Who knows? Other tangible assets, whose investment demand has been damaged by their identification with gold, would experience similar, but even larger, increases.
________________
DWDJr/dl
CEO
--------------------------------------------------------------------------------
[1] Freemarket Gold and Money Report, by James Turk, July 9, 2001
[2] “Global Investing: Cutting through Barrick’s Hedge,” by John Dizard, Financial Times, October 11, 2002
If Someone Doesn’t Stop Barrick...
We believe that, if someone doesn’t stop Barrick, the price of gold will hit $200 before October, 2004. It may get there much sooner. It may go much lower. Andy Smith, the precious metals analyst at Mitsui Global Precious Metals in London, has been described as “a commodities analyst who comes close to the superstar status of an Abby Joseph Cohen or a Peter Lynch.” Smith recently said that, in 5 or 10 years, the price will be “somewhere below $100.”
Barrick has destroyed an entire generation’s confidence in gold as a store of value and the ultimate in financial insurance. Investors who buy gold either believe that gold prices will rise, or believe that the price of gold in real terms will hold steady or rise while the values of other assets deteriorate. As gold has failed to meet their expectations, investors have come to shun the market. In the 1970s,[1] the investment demand for gold was 38% of total demand. That number fell to 25.5% in the 1980s, and 11.8% in the 1990s.[2]
“Looking ahead, investors may actually shift from being a net source of demand in the gold market, as they have been for most of the past 35 years, to a net source of supply. Investors may become so dissatisfied with the gold market that the amount of gold sold by disenchanted investors could exceed purchases from new investors, creating a net source of supply.”[3]
In Barrick’s annual filing with the U.S. Securities and Exchange Commission, Barrick reported that it had “run sensitivity tests on the impact on our liquidity if spot gold prices fell to $200 per ounce. Based on that analysis, if nothing else changed other than the gold price, we would expect to have sufficient cash flow from operations to cover our cash operating costs, sustaining capital spending programs, existing debt repayments and dividends.”[4]
What Barrick did not mention was that, if the price of gold goes to $200, Barrick would be in a position to realize a windfall profit of more than $2 billion on its existing short sales of gold, and Barrick and its Saudi shareholders would be in a position to buy most of the world’s high-quality gold reserves from Barrick’s competitors, who can’t survive at those gold price levels. In its presentation to stock analysts and investors (as opposed to gold investors), Barrick is candid about the fact that it profits from falling gold prices:
“I’ve made the case for Barrick in spite of the gold industry’s overall weakness. Now - I want to make the case that you should invest in Barrick, not in spite of the gold industry’s general weakness... but because of it. Not only is Barrick getting stronger - much stronger, with the strongest balance sheet and the highest free cash flow in the industry. We’re also directly benefitting from the forces weakening other players.”
Barrick’s CEO concluded his presentation with a slide that stated: “Lower Gold Prices = Acquisition Opportunities.”[5]
Barrick is now saying that it anticipates and welcomes higher gold prices. If you anticipate higher gold prices, do you sell gold or do you buy gold? Obviously, you buy.
Instead, before the end of 2001,Barrick entered into derivative contracts that gave it the ability to short (to sell) up to 6 million ounces of gold if prices rose to levels between $303 and $350. Barrick said it had both “the intent and ability” to exercise its option to make short sales at those prices.[6] Those short sales, when made, add actual, physical supply to the market which serves to depress the price. In laymen’s terms, Barrick planned to slam the market with new short sales of as much as 6 million ounces as soon as the market went higher.
Barrick isn’t planning for the price of gold to go up, at least not for long. It’s planning for the price of gold to go down. The Saudis already own most of the world’s oil. Maybe they want all of the gold, too.
--------------------------------------------------------------------------------
[1] Average annual demand from 1974 (when gold ownership became legal in the U.S.) through 1979
[2] From CPM Group’s Gold Survey 2000 - Statistical Review
[3] CPM Group’s Gold Survey 2002
[4] Barrick’s Annual Information Return, filed on Form 40-F with the U.S. Securities and Exchange Commission on April 29, 2002
[5] Speech by Randall Oliphant, Barrick’s President and CEO to the Merrill Lynch Metals, Mining and Steel Conference, May 10, 2001
[6] Barrick’s Annual Information Return, filed on Form 40-F with the U.S. Securities and Exchange Commission on April 29, 2002
--------------------------------------------------------------------------------
Matt
0
Comments
peacockcoins
<< <i>That's "Barrick" NOT 'Braddick'. ::whew:: >>
As we were saying before Barrick so RUDELY interrupted us, Braddick wants your gold!
<< <i>That's "Barrick" NOT 'Braddick'. ::whew:: >>
when I first read it, I thought, oh man, what's he up to now
At the $200.00 per OZ level we are talking $38.00 perOZ Profit ? x 6.1 mil 231.8 mil something doesn't seem to add up here. Someone who put out that newsletter has there published figures wrong.
I believe The gold market is being manipulated big time but not by Barrick alone i think it is a joint effort. Like the Hunt brother who tried to corner the silver market it will all cave in one day soon when joe consumer steps in and say hey i want to hold Gold and starts a buying frenzy
of the pretty yellow stuff. 5 to 10 percent for me is plenty to hold and thats what i have currently in bullion not counting my numismatic gold coins. I think thats a pretty safe bet.
Thanks for sharing that newsletter article. It did seem like it was a lot of hype.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
The problem with low cost of production in something like gold is - How long can it last? - it is not like they are distilling water - eventually even their source will dry up or slow down.
I have seen big agricultural processors drive down or manipulate prices - Cargil/Continental Grain in grains and Kraft in cheese - so they could get product cheaper and increase their margin.
Just think how much they could make by selling their gold on the cash market (without any hedge) if the cash price got up to $500/oz.
There is a history of attempted market manipulations that eventually go bad - because even if pockets are deep they are not deep enough - Barings bank, DAIWA copper,
So what does this firm want you to do - open an account with them and buy gold - eventually enough will be pulled off the market and the price will go up - maybe better buying stock of that company
6.1 million oz of gold per year produced -> 2 billion dollars of gold a year -> probably a small share of world gold market
Personally, I find better value in beaten down, strong quality stocks.
greatest threat to the stability of the world economy. Greater even than the
mountains of debt. If this inverted pyramid loses integrity it would be catas-
trophic. If it succeeds then the worlds gold will end up in Saudi Arabia. I do
have some doubt about the accuracy of this report though.
There is a tremendous amount paper gold on the market.
<< <i> Barrick sees gold output lower in 2003 >>
TORONTO, Nov 26 (Reuters) - Gold miner Barrick Gold Corp (ABX) said on Tuesday the company was on target to produce almost 5.7 million ounces of gold in 2002, but output next year will be lower.
Barrick chief executive Randall Oliphant told a precious metals conference in Toronto that the scheduled closure of five mines this year would result in "slightly lower" production in 2003 with cash costs similar to 2002's estimate of $178 an ounce. (Reuters Toronto newsroom +416-941-8101,
Hmmm lower output with higher production Cost !!!!
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."