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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

4:00 PM EST

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To: Bobby Yellin who wrote (20253)	10/2/1998 1:57:00 AM
From: PaulM	Read Replies (3) of 116753

B, hasn't the Fed organized bailout essentially formed a cartel? The members of the consortium know what LTCM's positions are. You and I don't. There's money to be made in knowing what LTCM's positions are. And there's money tobe made in knowing what positions the other big boyz may have in relation to the liquidation of LTCM. In fact, for the "orderly" liquidation to take place, the FED has to hope that the consortium members don't trade for their own benefit based on expected liquidation of LTCM. Which means that the FED is hoping for collusion and secrecy. Which isn't exactly the same as the "free capital flow" and "transparency" the FED is always championing.

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