Smoke from the steering coloum??? HELP!!!

Hey guys i have a WIERD problem. It seems that my steering column likes to smoke on occasion. Now it only does it when i am in high rpm ranges. Like high 1st gear 2nd gear, 3rd,4th, and even 5th. I doesnt do it at a dead stop just when the rpm's get above idle. WHAT THE HELL IS GOING ON??? It smells like burnt trans. fluid or something. I've never heard of this before? Have you guys ever had this problem before? If so what did you do to fix it? I am stuck. It's wierd but i need to fix it. I dont want the truck to burn down. I got like 2000$ in parts for it in my garage. Please any info or suggestions you might have would help. It's an 89 gmc sierra swb. 350 5 Speed manual transmission. Anybody? My email is jrw16@msn.com if you want to email me.

could be from you speedo cable

Thats a good thought i didn't think about that! I'll check it out. Anybody else?? Come on guys i need help im lost? I've never heard of anything like this.

nobody?? Come on anybody?

well, im not sure but i think you have an electronic speedo so that would rule out the cable. Good guess though. maybe not, like i said im not sure. try and check if the smoke is actually coming from the column itself or if its creeping in from up underneath the dashboard. Also, you are referencing it to rpm and speed both. Will it smoke if you are in neutral or park and revving your engine or does it only do it while moving. If it only does it while moving, it would get worse as you go up the gears and go faster right? If it does it while siting still and revving, it could be some sort of slight electrical short but with resistance through the circuit thats keeping it from being a dead short. When you rev your engine the alternator puts out a little more voltage so this could be causing it to only do it whil;e revving.
Just some thoughts, dont beleive a word i say.

It will not smoke in nuetral when i rev it up. Im pretty sure it only happens in the gears at high rpm's. It doesn't get any worse in higher gears just higher rpm's.

soundslike u may be gettin some blow-by from the motor comin in thorough ur steering column. that may sound weird, but it could easily get in a round the firewall or even the end of the column outside the firewall seeings how they are both right there at the exhaust, and if ur trucks using oil or anything.....ur gonna smell it, see it whatever. Does ur truck use oil bad??

yeah its on its last leg. Motor knocken burns oil. Did leak tranny fluid. Yeah oil is burnin on a daily basis.

ill bet thats what ur seein man, oil burnin off the exhaust and comin in through ur firewall and column! I dont know what else it could be, cause if that was electrical ur shit would hav been toast by now, so good luck man hope u get that all straightened out

What does it smell like? Burning plastic? Oil? Electrical?