to your illogical reasoning
as opposed to your own illogical reasoning? Perhaps it is dawning on you that if you are considering offering help to others to make informed investment decisions in bitcoin that perhaps you should put up first with some sound logical reasoning to do so. Instead your strategy seems to have been to take a punt on any bit of crypto going and to see which way the wind blows.
Now that is all well and good if that is what you want to do, but stop the pretence that you are here to inform.
Its funny how when I make a price prediction in 2019 that is wrong you are quick to highlight it. But I made the $34,500 prediction in Nov 2020 when bitcoin was $17,000. Less than two months later it had reach the $34,500 (which if not mistaken was a new all-time high at the time). The underlying point was that I very bullish about bitcoin. Was the price prediction lucky? For sure it was but the underlying point was that I very bullish about bitcoin and I was correct.
I like the analogy but its wrong
There's a shocker!
What they actually said was "We are going to Wexford until September, and if we like it we will stay longer until we need to come back".
So what did they do, did they pack enough supplies until they need to come back when they run out of supplies, or did they pack enough until September and make another decision later. Either way, one decision may end up costing more money that the other decision. What would you do?
I am referring to one of the most important pieces of information in the global financial system
Well, according to you, it's one of the '
most important pieces of information in the global financial system'. Personally, I only think it is important if the substance of it makes sense (to me!).
So if you are referring to the FOMC statement of 16 June 2016
FOMC Statement 2021
Then I can positively say to you that I think it is one of the greatest examples of worthless information polluting cyberspace. It is completely contrived by a bunch of egotistical wanna-be seers that think they can control the inflation rate. For sure, they can make decisions that will impact the inflation rate but they cannot control it.
How do I know this? Because they say it themselves in their statement.
"The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer‑term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time."
Think about it, if they could control the inflation rate then why was inflation
running persistently below the longer-run goal of 2%? If they can control the inflation rate then why was it not running persistently at the longer-run target of 2%?
Worse, they aim to achieve "inflation
moderately above 2 % for some time so that inflation averages 2 percent over time and longer‑term inflation expectations remain well anchored at 2 percent"
What does that even mean? 3% for 24 months, or 4% for 12 months, or 6% for 6months? Do you know? Can you explain it?
These people are charlatans. If you want to fall at the alter of this CB spoofery go for it.