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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (80234)	4/28/2000 10:45:00 AM
From: pater tenebrarum	Respond to of 132070

what do they mean by 'feared'? imo the Euro crisis is in full swing already. the Euro carry trade gambles will of course blow up...that's the real danger here. if anybody should get ideas about wanting their loaned gold back, they're in for a surprise. it's IMPOSSIBLE to make good on physical deliveries of that size. Veneroso estimates that the total gold loan short position is now some 16,000 tons. at the same time, someone is buying up all the physical metal he can find in the US...in recent months gold was regularly the biggest export item in the trade report (92 tons last month). there are several CB's who have zero gold left in their vaults...Australia, Canada, Denmark, Kuwait <g>, all they have is a piece of paper that's probably not even good for wiping....