Therefore the existence of Frey’s elliptic equation defies the Taniyama–Shimura conjecture. In other words, Frey’s argument was as follows: (1) If (and only if) Fermat’s Last Theorem is wrong, then Frey’s elliptic equation exists. (2) Frey’s elliptic equation is so weird that it can never be modular. (3) The Taniyama–Shimura conjecture claims that every elliptic equation must be modular. (4) Therefore the Taniyama–Shimura conjecture must be false! Alternatively, and more importantly, Frey could run his argument backwards: (1) If the Taniyama–Shimura conjecture can be proved to be true, then
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