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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pitbull_1_us who wrote (75450)	2/29/2008 9:44:25 PM
From: carranza2	Read Replies (1) \| Respond to of 116555

Interesting post. I don't know what to say. The short position is huge, with an exposure of appx. $20 bn at today's prices. I think this calculation is correct as I multiplied 5K ounces per contract times the 219,000 open short positions times a more or less $20 price per oz. cftc.gov I don't think China holds these positions. I think hedge funds and investment banks hold them, and I furthermore think they'll unwind them as they feel heat from various sources. If gold keeps its march up and silver follows in lockstep as it has, both of which I expect, the covering of this short position might make owners of silver lots of moolah. We know hedge funds are selling munis, what's next?