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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: kirby49 who wrote (76915)	9/19/2001 8:21:39 AM
From: John Soileau	Read Replies (1) of 116753

If it really isn't there (or moved anywhere else), we would not be talking about "fractional reserve lending", which is of course dangerous enough. We'd be talking about "zero reserve lending", basically naked shorting of gold. Interesting concept; damn, you can save a bundle on storage costs! Can you imagine a world in which zero reserve lenders issue derivatives to parties who use those derivatives to "offset risk" from derivatives those parties then issue to others? And the others then issue...etc. I can't imagine BNS is doing zero reserve lending. I'm not yet convinced that the WTC gold is actually missing; maybe there but inaccessible, or not there but somewhere else in storage. That seems much more likely. We'll see... John

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