By way of deception . . .

You have to wonder whether these people believe what they spew or just spew it because they're paid handsomely.

In all fairness though, Larry Kudlow just describes what he sees in his opinion piece, A Friend at the Fed?

"Daily average volume in the Treasury bond market runs up to nearly $90 billion according to the Chicago Board of Trade." [Holy Cow!!!]

"Gold trading, however, is well below $50 million, even in the recent rally."

So, Larry concludes, the bond market is the "forward-looking indicator [with] the most clout in the world marketplace."

Of course, he's NOT suggesting that "gold is irrelevant as a monetary signal"

Heaven forbid that the Fed should consider taking its signals from the PHYSICAL economy, for a change.

He's merely pointing out that "the central bank [is] using the bond market as its leading real-world indicator" . . . and that's the way "it should be."

"And if the authorities are still worried about a touch of future inflation, all they need do is sell bonds from their HUGE portfolio in order to DRAIN liquidity and BYPASS the unnecessary fed funds rate target altogether." (emphasis added)

Isn't that special?

The FED has not ONE, but TWO ways it can clandestinely destroy our livelihoods and embezzle our wealth from right under our noses:

(1) announce a hike in interest rates and bleed us directly through our personal debts; or

(2) surreptitiously sell its bonds and bleed us indirectly through our governments' debts

Either way, WE BLEED!

And Larry thinks the FED is a friend? With friends like that, who needs malaria.

I have to agree with Larry, though, America needs a free economy--free from INTEREST and for-profit bankers!