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The Fed sat on its hands, as expected.

Powell gave a fairly dovish press conference, dismissing the notion of rate hikes, and also of stagflation.

And the markets took off like a moonshot.

But wonder of wonders, we were treated to an afternoon wash and rinse.

Stocks lost their moonshot in the last hour and dumped back all the way to unchanged with a vengeance.

Gold and silver managed to hold on to some of their gains, but were well off their highs.

The Dollar lost some ground.

Bitcoin is wallowing below the 60k level.  

Now on to the Non-Farm Payrolls report on Friday.

I can't believe the utter repression being self-righteously leveled at university campuses and the thought police actions of the cancel culture.

This reminds me very much of the McCarthy era. It is hard for anyone who did not live through it to know how intense the recriminations, name-calling, and hysteria had become.

"Are you now, or have you ever been, a member of the Communist Party of the United States?"

This is America today.  

Left or right, these pin-headed ideologues have no shame, or respect for the law and the Constitution.  

Ever. None. 

It's all about money and power— from the US to the UK, from Germany to France.

These are the household gods of the Western elite.

What are we becoming?

Have a pleasant evening. 

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