So, at the end the FED will ‘taper” manana or, next year. Starting in January the FED will lower the QE to 75 B/month or 10B less, at least in front of the scenes (nobody knows what they really been doing, like the 3T M.I.A after the 2008-09 crash…)
This is how I call this taper:
We are on this lunatic, idiotic and dysfunctional train and we are on the rails directed toward a cliff. Today we are going on at 85 MPH , starting next year we’ll go toward the cliff at “only’ 75 MPH… That’s all. Nobody is coming to stop the train, much less reversing back to safety. The keynesian railway is only going one direction.
PM’s first corrected for a minute or two, then went back up, but, unlikely what I was presuming, ended the day in correction mode or just around 1% down. Not big deal, but silver did loose the grip on the 20$ mark. More to see in the remaining 2 trading days left this week. I still suspect the last week of the year short covering will show up and lift the metals few % points, we’ll see. Ciao and thanks for reading, please comment, follow and share!