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To: dbblg who wrote (80492)	10/13/1999 3:30:00 PM
From: GST	Read Replies (2) \| Respond to of 164684

Ganesh -- The Fed has every reason to lease gold into the market -- lease rates are down despite the shortage of the metal and we now know it is not coming from Europe -- know is too strong a word, but we have their decision not to increase their exposure to the leasing debacle. If I was ag I would find it hard to stand back and watch the gold bullion racket blow up for the same reasons he did not watch LTCM blow up -- it would signal a liquidity crisis. Fact is, intervening may or may not solve the problem. If it does not solve the problem, it makes it worse. It may be about to get worse. Good luck, You are buying into a highrise on quicksand in an earthquake zone -- but then I am sure you know the risks here.