These are the packages that would be merged, in order:

Calculating dependencies ... done!
Dependency resolution took 0.86 s (backtrack: 1/20).


!!! All ebuilds that could satisfy "~app-doc/phrack-01" have been masked.
!!! One of the following masked packages is required to complete your request:
- app-doc/phrack-01-r2::gentoo (masked by: phrack license(s))
A copy of the 'phrack' license is located at '/Volumes/Disk 1/Repository/portage-git/licenses/phrack'.


(dependency required by "app-doc/phrack-all-72::gentoo" [ebuild])
(dependency required by "=app-doc/phrack-all-72" [argument])
For more information, see the MASKED PACKAGES section in the emerge
man page or refer to the Gentoo Handbook.