Commentary - 10/11/2007

Who "Controls" Companies Listed In HUI/XAU?

Last year there were two separate reports. This time they're combined into this one commentary to better understand who controls mining overall. Listed below are companies that make up each group. Many companies are in both HUI and XAU. The links in these tables take you directly to the breakdown of the Top 10 Institutional Holders of that company, showing what percentage of the company they control and its value, and their relationships to others.

You can do the same lookup on any public corporation and see for yourself who owns what. You will also see that some of the major holders are nothing more than a "front" for another more powerful group. These fronts are simply a method to deceive the public. Simply look up who the major holders [of the major holders] are and see for yourself.

While working with this data, remember that it takes only approximately 10% of the shares to "control" a large widely-held corporation. Especially when management and insiders have little or zero ownership. These "plantation managers" simply take their marching orders and their large payoffs (uh, salaries), and everybody else doing the work be damned. If they show any empathy or conscience about what happens to their employees or customer base, they will simply be removed and replaced by another, more "aggressive leader."

Another problem we're now facing is the growth of private-equity groups, which do not have to make the same disclosures as publicly-held groups. This is why they keep gaining up on the SEC to "prevent" disclosure and accountability. They have to hide their connections.

This report was generated by taking each of the Top 10 Institutional Investor of each corporation in the HUI/XAU, along with it's corporate name and data, then sorting them into alphabetical order. This makes it easier to see who controls what.

This report shows, in descending order, the total value of the shares controlled by a Top 10 Institutional Holder. What interested me was that a senior vp of Capital Research is David C. Barclay. Any connection to Barclays Bank? I'd sure like to know as it would answer a lot of questions. Seeing their involvement in HUI/XAU's top companies, and the dollar totals, it's small wonder they're so secretive.

This report, in descending order of investment, shows each Institutional Holder of the HUI/XAU in which Barclays Global Investors has a simple majority of the corporate shares, that is, what I call a Barclays Associate. This shows is just how much control over the gold/silver market exists.

These are the corporations that make up the two indices, as of 30-Jun-2007:

Components of HUI
Components of XAU


2007 by Edward Ulysses Cate
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