On June 8, 2013, I said this at the TPG Forum,
Again, I am not sure if the link is gated, so I reproduce it here,
Greenspan: Taper Now, Even If Economy Isn't Ready
In my view, the NFP Numbers are cooked. The Fed will taper...no matter what.
Most would have thought that markets will crash when the Fed tapers. But, last night's jump in the Dow and the S&P have shown otherwise.
I believe the Mass Media will now sing the tune that 'a good news is a good news' and not 'a bad news is a good news', i.e. bad numbers imply that the Fed will do more QE.
Why would the Fed taper?
First of all, the Fed HAS TO unwind ultimately.
Secondly, I think the Fed has a bigger objective--to preserve the confidence in the USD and that the USD will continue to be a Reserve Currency.
From what I've observed from the recent moves in the forex and the equity markets, the Central Banks can do whatever they wish!!!
Last night, I actually heard Steve Liesman saying "Good News is Good News".
It's no coincidence, CNBC is the mouth piece for the Big Boys (the Fed and The Bilderberg Group).