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-Possible Short Squeeze-

Bob Hoye
Institutional Advisors
April 1, 2006

Over the past few days, gold has been outperforming silver. Ever alert to opportunity, our staff has been doing some deep research - sleuthing the corridors of power, so to speak.

While there may be some scepticism about auditing the gold in Fort Knox, there is a solid description of the depository itself. The following is from an impeccable source:

"Construction building material used included 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel, and 670 tons of structural steel."

The problem that is only now beginning to leak out is that radon (Rn) gas (which is radioactive) in the Fort Knox basement has turned all the gold to lead.

Bob Hoye
Institutional Advisors

Hoye Archives

The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized.

Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or options or futures contracts. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk. Moreover, from time to time, members of the Institutional Advisors team may be long or short positions discussed in our publications.

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