Losing “Patience” Does Not Mean the Fed has Lost Patience

* The Fed released long-awaited FOMC official statement

* Indicating they will be more patient without the word "patient" than when they were officially patient

* Why take the word away in the first place?

* The Fed wants to appear to be moving closer to a destination to which it has no intention of arriving

* The Fed is clearly more concerned about the economy today; they reduced growth estimates

* Janet Yellen said she will not raise rates until she sees improvement in the labor market

* The Fed not satisfied with 5-1/2% unemployment

* The jobs number is the outlier and will turn around

* Housing starts collapsed in February; biggest in 8 years

* Economic Surprise Index is most negative in memory

* It doesn't matter what the unemployment rate is; the Fed can't raise rates without creating a financial crisis worse than 2008

* The minute the Fed went down the path of QE, they sealed our fate

* There is now so much debt that we need QE more than ever

* The dollar had a huge rise in anticipation of rate hikes

* The Fed is more likely to launch QE4 than to raise interest rates

* The Fed is not going to raise interest rates until there is a currency crisis

* When the dollar turns, commodity prices will surge in all currencies

* The fact that the day of reckoning has been delayed with increased debt means a bigger payday for Euro Pacific Capital investment strategy

* It will be better to restructure and default on some of our debt that to deflate it away

* Understand the end game, ride it out and have the last laugh


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