And so now we know why gold was smacked down so hard at the end of May, in addition to a convenient opportunity for the well-informed to skin the call options holders for the June Comex gold contract.
Those hawkish comments and bullish tweets about the economy from the Fed in April were just so much spin and hot air. But it did serve to facilitate the ongoing wealth transfer from the 99% to the pampered professional class.
There is little enough that is beneath them. And the bar keeps getting lower.
The MSCI has decided that Chinese stocks are not good enough for their index. Better luck next year.