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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.87

-0.1%

Jan 9 9:30 AM EST

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To: larry who wrote (61407)	9/23/2002 4:03:47 PM
From: GVTucker	of 77400

larry, RE: I believe that the consensus is that if the Fed cannot suppress the gold price and the latter rallies significantly above $330, JPM will be in danger of going under. The gold bugs have continually maintained that the US banks are massively short gold, but I have found no support (outside of heavily biased gold bug Internet sites) for that contention. The primary short sellers of gold are the gold producers, as has been the case for quite some time now. The vast majority of derivative exposure for JPM is in the currency and fixed income markets

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