Beige book report suggests a “likely” rate hike/If so China will massively devalue/Saudi Arabia has a full blown liquidity crisis as they are paying their contract workers in notes rather than cash/Inthe USA Target misses top line, bottom line and slashes guidance
by Harvey Organ
Harvey Organ’s Blog
[…] No doubt that the entire trading of gold and silver today was orchestrated by our crooked banks. They were massively selling paper gold throughout the night and early morning. Even the one billion dollar bid for gold early this morning did not spook the crooks. At 2 pm they released the beige book report and the Fed stated that it is likely that they will raise rates in June. The USA should raise rates but the problem will be China who has threatened to lower dramatically the yuan and in so doing would absolutely kill Japan, South Korea and the emerging markets. Besides no Fed would be stupid enough to raise rates three months before a USA election.