The markets were duped last night using a MSM claim of a "hot" CPI read. They selected non-core rather than m/m CPI (chart below). The Fed came out helping their banking system with hawkish rhetoric and warning 0.75% this week on their rate setting.
The DJI smashed, gold and silver smashed and the liquidity ran at the pack this morning to shake out weak hands from the gold sector. It is a sick joke when you view this chart on inflation which has abated at present. See far right for "what the alarm and panic is all about today"". This is not off topic - for BRB was temporarily hit today with the rest of the sector.
BRB Price at posting:
21.5¢ Sentiment: None Disclosure: Held
