The Fed brought out not so much the jawbone, but perhaps its dentures, and changed 'considerable' to 'patient' and set some expectations for a rate hike perhaps as early as April.
Of course this is all rubbish, and the Fed will do what they need to do to protect the US' financial paper, especially in the time of currency war.
Gold took a somewhat perfunctory hit by the little wiseguys sometime after the announcement, almost as an afterthought, and silver pretty much held its level.
If they can't keep the genie in the bottle we might be getting ready to rock 'n roll. Can you feel things winding up, getting tighter and tighter, as the paper kings keep pushing it to the limit?
We can be patient too, Bubbe Yellen, while we wait for some potentially considerable changes to come.
I am leaving a bit early today to do things related to family and the holidays. These things will remain. The trappings and vanities of Empire are already turning to dust.
Gold and silver will be fine I suspect. But we must be wary of the desperation of those who are both corrupt and powerful.
Happy Hanukkah to all my Jewish friends, acquaintances, and patrons of Le Café.
Have a pleasant evening.
