from TF Metals Report:
I don’t know about you, but ole Turd is sure getting sick and tired of these FOMC statements being some sort of be-all-end-all for the “markets”. And with gold UP nearly $300 or 30% since The Fed raised the Fed Funds rate back in December, maybe we should all be pulling for higher rates anyway?
But, man, this crap is getting old. The FOMC rolls out a statement (the Fedlines) at the conclusion of each meeting and then releases the actual minutes of the meeting three weeks later. First of all, why the delay? I can understand not having the complete minutes available right at the conclusion of the meeting but we’re supposed to believe that The United States Federal Reserve actually needs three full weeks for some clerk to cobble together the minutes for public release? That’s freaking absurd!
Or look at it this way…We’re supposed to believe that the BLS can come up with an uncannily accurate assessment of the amount of jobs added in any month within 2-3 days of the end of that month…BUT…The Fed needs three full weeks to spit out the minutes of its most recent meeting. GIVE ME A BREAK!
At this point, you should begin to realize what a scam this is. Do you recall the meeting of April 27 and the alleged minutes that were released on May 18. The Fedlines of April 27 were considered “dovish” and gold shot $65 higher over the next three days. However, by the time the minutes were released in May 18, a completely different picture emerged. The dovishness was gone, replaced by talk of “June rate hikes” and “live meetings”. In turn, gold was smashed $82 over the next nine days.
Here’s the complete summary from ZeroHedge follwoing the release of the minutes on May 18: http://www.zerohedge.com/news/2016-05-18/fomc-minutes-show-cornered-fed-likely-hike-rates-june
As ZH and many other wondered, how in the heck could the minutes vary so much from the stated Fedlines of just three weeks earlier? Well isn’t it clear what your answer is??
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