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To: IceShark who wrote (38960)	2/9/1999 2:31:00 AM
From: GST	Respond to of 164685

Ice -- re: paper, ya, of course your right on the spec stuff -- but I mean, where else can you borrow something, sell it, and use the underlying as security to keep the interest rate at almost nothing? Really and truly amazing (no pun intended). My point is just that the settlement in a squeeze could be for cash -- that is what uncle al arranged for LTCM last fall -- now would all those gold lenders feel so inclined in a squeeze? As for Fort Knox -- that is not where the gold is coming from -- it is primarily the Europeans -- and the range in estimates is from 8,000 to 14,000 depending on whom you ask. Is there a potential squeeze -- OH YES. Is it around the corner? Who can know for sure?