I appreciate your input. Agreed they are buying up assets. Also agree manipulation and corruption is rampant and they're probably doing a lot of things we're unaware of, probably in conjunction with ECB, Japan and BOE, but to allow the markets to continually move up is a slap in the face of common sense and logic of investors. The FED's credibility is hugely at stake right now. They may maintain the equity markets until elections but I believe the data supports a rate hike to bring a sense of normalization into the minds of investors. I think Schiff is right about gold, it's going to go up, but not so sure about about the dollar. The USD has been moving with gold on many days recently, this could be a sign that it is being viewed as a safe haven in times of turmoil as gold is as it being the only alternative currency in the fiat world that people have confidence in.
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ALL, literally ALL the economic data is showing the economy is trashed. No growth, no production, no manufacturing, nothing. All of those industries have already borrowed into the future - they were at max storage and production last year. There is no demand for all the production caused by the free credit boom.
On the flip side of the coin, all the corporations have bought out their own stocks at highs to give CEOs a nice bonus at the expense of regular shareholders. Add that to the fact that financials are so heavily leveraged that a rate hike will bankrupt every bank in the world.
I don't think they can raise rates with this much over-production, corporate buybacks, and investment bank leverage. The only thing they can do is go deeper negative and hope for war.
They can raise rates and they will. They did it in December 2015 when guys like Schiff said they couldn't. And now again, the same people are saying they can't, but they can and they will. And the markets will tank and things will suck for a while but there's always a way out when you can create unlimited capital. It's simply a matter of finding creative ways to inject it into the system.