I say, "Save that tape! Let's expose this guy once and for all."

I don't know when Mr. Froehlich started his morning cheerleading exercises prior to starting work today, but I was blogging the following words of advice at 4:37am ET, which means I suppose that 99.99 pct of people in my time zone were asleep.

International equities are firm ahead of Fed decision, Thurs., June 29, 2006, 4:37 AM

The notion being floated early today is that economies are strong, there is little inflation and the Fed is going to tone down its message along with a raise in rate by +25 basis points. I suspect that the initial reaction to the Fed decision will be a boost in equity prices, but that will lead to major traders hitting bids and eventually driving down prices.

I think Froehlich is always asleep, but that's another story (lol). Next week, traders start hitting bids.

Here is the well-done Econoday report on today's Fed rate hike. Evelina Tainer you can take seriously.

Here is the 130 point Dow 30 rally since the FOMC decision at 2:15pm (+217 on the day).

For those of you who are looking forward to a Fed rate drop, and have bought stock today, keep this picture handy " and then take a look at the Dow 30 (U.S. equity market) performance from May 16, 2000 (the last peak of the Fed rate hikes) [Funds Rate 6.50; Discount Rate 6.00] [Dow 10626] to Nov-06-2002 [Funds Rate 1.25; Discount Rate 0.75] [8537].

That's right, Mr. Froelich is (let's say) misguided.

But does it really matter what these Wall Street Talking Heads say anyway? We have been on to their game for a long time, right?

In any event, that's not today's story anyway " well the "sucker rally" is " but not these clowns on Financial TV. The real story is that the $USD has been in serious crash mode and $GOLD is up over $11 to hit $600.50. Crude Oil ($WTIC) is now at $73.65. And the Cdn Dollar was up almost a full point to US$0.900.

The $USD is clearly in free fall, but all the clowns on TV would talk about is +217 points on the Dow 30!

This is a gold rally because the USD (like the equity market) is done like dinner. Printing money like I'm sure happened today can only take equity prices so high, or extend housing prices so far.

217 Dow points is a kick in the bucket to what I see coming soon on the downside. Don't be a sucker.

Protect your wealth. Don't hand it to Mr. Froehlich's associates.