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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (4277)	7/27/2002 1:30:03 PM
From: h8_2_b_l8	Respond to of 30712

I haven't yet gone through the line by lines of the OCC reports but they have a very large net short position in gold. If they had to unwind say $1T in gold derivative positions the market would go nuts. I'm assuming the bail-out part, but you would think the government has to have the "I owe you one" mentality since JP Morgan himself rescued the US from the verge of bankruptcy in 1919 (1920?). It would be necessary for JPM to straighten their books in order to avoid a chain reaction in the financial markets. Their derivative position would just be a part of that "straightening".