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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (19785)2/16/1999 1:42:00 PM
From: Lucretius  Read Replies (1) of 86076
 
Bill, the key is that LTCM had a huge short position in gold as do others. They have been trying to cover it for months. Today is the turning point where they have tried to beat it down to new lows so they can exit....... they have failed. It is OVER. When they are forced to cover and Goldman goes under.... gold will see $400 in short order and the dollar will be sold. Obviously US treasury bonds will decline as foreigners sell, but they should be bought.

-Lucretius
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