WAITING for the FED to say "rate hike" ...?
- Well, continue to wait. Just like in the play "Waiting for Godot" (where Godot never comes, btw), it's not coming any time soon.
Ignore all of what they SAY.
- With the easily distracted and amused fretting over whether the FOMC will, or will not, continue to use the word "patience" it is best to completely ignore the Kabuki theater of the monthly 2-day FOMC meeting which begins Tuesday and ends Wednesday.
- Whatever they "say" at 2pm on Day 2 will not matter one bit. Hasn't mattered for years, doesn't matter now.
Watch instead what they DO.
- Ireland's Finance Minister (Noonan) has moved his personal wealth out of stocks and into Gold....physical Gold, not paper Gold.
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