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NOTHING incremental

Andy Hoffman
|
Thursday, May 8th
SilverSeek.com Comment Wire

 

Another Fed Chairman giving Congressional testimony, another PM raid.  No matter that NOTHING incremental was said relative to last week's FOMC statement, with the MSM's key takeaway being the sound byte "a high degree of accomodation is still warranted."  In my view, the scariest part of TPTB's shell game is the fact that rates are dramatically falling despite the so-called tapering of QE; in my view, per the title of my article today, "the most damning proof yet of QE failure."

 

It appears the Fed is now actually trying to get rates higher; so as to "prove" there actually is a recovery.  Unfortunately, what's left of the "market" is now betting on further economic decline - and with it, more of the "high degree of accomodation" cited above.

 

Gee, I wonder what will happen with PHYSICAL PM demand…

 

 

Andrew C. Hoffman, CFA

Marketing Director

Miles Franklin Ltd.


 

ahoffman@milesfranklin.com

www.milesfranklin.com

 

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