the fed is merely using the minutes of their meetings to JAWBONE markets and give cover to major traders to do their dirty deeds
at the same time last night as the FOMC came out, other US economic reports came out much worse than expected - in particular the housing starts which fell through the floor
since housing is one of the major drivers of employment growth, this is bad news to anyone who actually believes Fed will stop the QE's
however, should the FED suddenly get the austerity bug and decides to stop QE, then not only would it kill its own credibility but it would also kill most financial assets, including gold and gold stocks
imo this is highly unlikely as the path of least resistance is just to do more QE because the debts are all denominated in USD ...this is also why the US govt will never default because they simply don't have to ...
NCM Price at posting:
$21.29 Sentiment: LT Buy Disclosure: Held
