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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Cactus Jack who wrote (50792)5/1/2002 12:03:23 PM
From: Jim Willie CB   of 65232
 
no, not short JPM
bigger gains in gold & silver than shorts of JPM
the irony of the unwinding of naked gold shorts is that the pain for JPMorgan might be much bigger on the interest rate derivative market
gold is a leveraged doorstop to US$-TBonds

JPMorgan's biggest derivative positions are with Bonds
Bonds provide the main meat in their upside down pyramid
what is its notional value now? $32 trillion?
/ jim
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