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Fed Minutes Are Propaganda, But It Admits To Being Clueless

By Implode-Explode Heavy Industries

"Let?s talk about the January FOMC minutes released last week. Here?s what you need to know about the minutes. They aren?t what the guys and girls at the table actually said. They are what the Committee, or actually Bernanke, seconded by his sycophants, wants you to think they talked about. The minutes are propaganda, pure and simple. They are an attempt to paint the Fed as a wise, deliberative body that knows what it is doing and has your best interest at heart."

Full post as published by Mortgage Lender Implode-o-Meter on February 23, 2011 (boomark / email).