Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

<<Did the Fed inadvertently omit part of their statement or decide to add to it when they saw the negative reaction to their original?>>
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Hi eap,
Fwiw, this is GATA Bill Murphy's take on the "omission" in this evening's LeMetropole Cafe...


JUST IN:

15:57 FOMC says it inadvertently omitted part of statement
The line we previously noted had been removed regarding long-term inflation expectations remaining "well contained" was apparently intended to remain in the statement.
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15:59 Follow-up: FOMC says it inadvertently omitted part of statement
Note that two lines had been removed regarding inflation, and that the other line apparently was intended to be removed; that line was "the rise in energy prices, however, has not notably fed through to core consumer prices".
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The Theatre of the Absurd just went Broadway. What, are you kidding me? The CNBC so-called Fed pundits have made a point for years how every word is massaged and put in their comment to reflect exactly what they want to get out there to the public. Now, we are led to believe the most carefully worded pronouncement anywhere, anytime was a goof? Give me a break!

Wall Street and the Orwellians must have thrown a fit and told them to change their statement, as the original statement was not playing out right. Somebody sure did. One thing is for certain. This plays right into those of us on Planet GATA who cite the extent to which the US financial markets are managed.

The Working Group on Financial Markets strengthens the dollar when our stock market is in trouble, even as our economy weakens. They keep the long-term interest rates under control in the US through their Tinsley Put operations and Caribbean Pirate accounts. The PPT props up the stock market at strategic times by utilizing the stock futures markets. And, of course, the Grand Daddy rig of all is their continued manipulation of the gold price.

You would hope the changing of this Fed statement would show ANYONE with a noodle of a brain out there what is really going on here in America and to what degree they will stoop to affect market direction. The DOW was down 40 and sinking into the close with 4 minutes to go when they announced the change in the statement. It closed UP 5 at 10,257. This may be the grandest PPT Hail Mary play of all time for speedy results. The DOG rose 4 to 1933. Unbelievable! What a farce! Talk about loss of credibility and integrity. Nothing new to us. Maybe it will wake up some of the comatose ferrets on Planet Wall Street.