by Jeff Berwick
The meeting is over! The FOMC has spoken, and the reality has been recognized: The US economy is a disaster and as a result gold will benefit as it always does from fiat’s misery.
Janet Yellen didn’t say that of course. She is trying to pretend that there is a “recovery” going on in the US economy.
But by backing off serial rate hikes, she made her and the Federal Reserve’s real feelings clear. The economy is not recovering. Jobs are not returning. Industry is not recovering. The only thing that is recovering is the price of gold against the dollar. The rest of the economy is in a recession verging on depression. In fact, “depression” is a better word. But mainstream’s presstitutes have been taught not to use it. Just the way they’ve been taught to cover these horrible FOMC meetings. Sonorous monetary and economic phrases are employed in their articles to ensure the results sound deeply thoughtful.