Some of the warning signs that I enumerated in the February 5th report (reproduced below) have abated, but others have not. Foreign central banks are back at the Treasury auctions. That has helped to prevent a collapse in the Treasury market and has helped to keep the stock market fiddling while Athens, Dublin, Cairo and Tripoli burn. It’s notable that with all this support from the Fed and friends, the Treasury market has still been only flat. There are huge sellers out there. Who will surrender first, the Bernank or the Gross? That’s the question.
I’ve reviewed the FOMC minutes from the January meeting. The minutes are propaganda, not an actual recording of what is said at the meetings. That won’t come out for 5 years, when the transcripts are finally released. Actually, it’s more than 5 years since the transcripts are only released once a year. For the meetings that come right after the deadline, it will be nearly 6 years. They have to wait that long. That’s how embarrassing the truth is. But by then, most of the members are gone and the public has forgotten, or doesn’t give a crap. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
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