Did Gavekal Just Blow the Lid off of the Fed's Smoke and Mirror's?

ORIGINAL SOURCE: A Massive Liquidity Illusion by  Steven Vannelli, CFA of gavekalcapital.com on 3/7/2017

Gavekal one of the world's leading independent providers of global investment research seem's to have figured out what's going on behind the Fed's curtain this time around and just goes to show how deceiving this Institution really is!

Excerpt: Going a step further, the recent precipitous drop in US Treasury deposits at the Fed could telegraph a significant decline in interest rates this year.

Please the rest here: "A Massive Liquidity Illusion"