Axel Merk says the Fed signaled a greater concern with unemployment and less concern with inflation in its last meeting minutes. Combined with greater interference in the marketplace, meaning less ability to understand what is going on in the markets as the bureaucracy increasingly manipulates interest rates and monetary interventions, it will only become clear when inflation is growing well after the fact. Good for gold yes, and Tyhee yes, but as Hans says the bigger economic picture is now very concerning. Ike

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