The central argument of the theory is that “when one person (the Principal) hires another person (the Agent) to do work, their interests don’t automatically align because the Agent knows more and may act for himself” (copied).For our purposes, The Principal is BoG and the Agent is GoldBod.Theory further states that three main problems arise as a result of the behaviour of GoldBod (Agent) that do not inure to the benefit of the BoG (Principal).These are:Information Asymmetry: GoldBod knows more than BoG in the buying and selling of artisanal gold.Adverse Selection: BoG picks the wrong Agent (GoldBod) because GoldBod hides its true colors. In this case, and among other things, the CEO has no prior experience in the sector (buying and selling of Gold)Moral Hazard (After hiring): Agent (GoldBod) may take actions that benefit GoldBod, but not BoG. This is demonstrated by the fact that GoldBod claims they made profit, whilst BoD made losses.Thus, even though the losses sit on the books of the Principal (BoG), they were incurred through the activities of the Agent (Gold Bod).Through Information Asymmetry, Adverse Selection, and Moral Hazard, the activities of GodBod have landed us in a $1.7Billion loss. We should and must demand answers for this massive loss.