Beating the retreat is always an ugly affair......................from Rico

The essentially meaningless FOMC minutes were released at 2:00 today. As usual, the Cartel likes to take this 'opportunity' to stage a paper raid to suppress bullion spot prices.

- Must. Not. Disappoint. the. Chairman.

Actually, we have just had three straight days of 2am raids with 2pm capping action in an effort to control/manage the voracious rise in physical bullion demand.

- It is a delaying action. A rear guard action. It looks more like Napoleon's Winter retreat from Moscow than it does 'price discovery' in an unmanipulated market.

Of course the Fed minutes trotted out the tired old 'taper' rumor as cover for Cartel action (this is as choreographed as a Las Vegas dance routine).

- The FED will NEVER taper. The FED can NEVER taper.

WHY?

- Take a look at the chart of buyers and sellers of US debt (Treasurys). Everybody is selling...dumping US debt, except for ONE 'mystery buyer.' Care to 'bet' who that single mystery buyer is?

Rock, meet hard place.

- Taper? Bwahahahhahahahahahahahaha.......