The Fed is doing some serious propaganda against inflationary expectations.  In the last few days, their efforts are working as many forms of investor inflation hedges have broken their upward trajectories.  Copper and gold, for instance, look to be in free fall.

But as someone once pointed out, central bankers are liars.  It does not matter what country they represent, "They will tell you that they have no plans to raise interest rates right up the point that they do."

This being the case, the market is wrong for now, in my opinion.  It is showing a knee-jerk reaction to Fed jaw-boning.  We will see continuing inflation, albeit with a jagged upward trajectory.

From my perspective, and generally speaking, those who take a mid-to-long-term view should take the present environment for mining stocks as a buying opportunity. 

With thanks to Yahoo!