Well, this sure is a nice quaint little scenario isn't it? T Bonds rise here on Fed day (I am still long IEI), and the precious metals continue a vicious smash down. Isn't it convenient that gold and silver got hit in a sustained manner just as policy makers plan to tell us about coming inflationary policy?
They looked a little silly telling us that inflation was contained with Au over 1400, Si over 30 and copper in blue sky. Now they will not look so silly when they put the inflation boilerplate in tomorrow's message. They will be silly though, or more accurately people who follow the breadcrumbs will be set up to look pretty silly. http://www.biiwii.blogspot.com
