Keep in mind that the FED and their Wall Street cronies knew well in advance of this announcement to use freshly printed money to purchase long-term treasuries. In fact, it has probably occurred for a while but this announcement just makes it official. There is also no way that Wall Street was not prepared for this moment, meaning they must be loaded to the gills on PM shares. As the bond market now overturns, we could see a sudden move into the PM sector. This FOMC announcement today should bode well for all PM longs but not for any holders of U.S. Treasuries. China must have a Plan B.

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