Tuesday, December 1, 2020

Tag: FABRICATED “JOBS” REPORT SETTING THE STAGE FOR SIGNIFICANT PRECIOUS METAL SHO…

LATEST CARTEL BLITZKREIG, FABRICATED “JOBS” REPORT SETTING THE STAGE FOR SIGNIFICANT PRECIOUS METAL SHORTAGE

0

by Andy Hoffman, Miles Franklin:
As it’s still 1:30 AM MST, I’ll reserve judgement on the title, and principal theme, of today’s article until after the June NFP jobs report five hours from now. Given yesterday’s miserable June ADP employment report – featuring a big “miss” versus expectations, ZERO manufacturing job growth, and a significant downward revision of May’s numbers; coupled with the nearly across-the-board declines in June economic “hard data” to date, there’s a good chance the June NFP report will be disappointing, too. Even if, generally speaking, the correlation between these two, putting it mildly, “statistically flawed” reports tends to be low.

If it is indeed weak – according to their rigged statistics, that is; it’s going to be very difficult for the Fed, which markets already give just an 18{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} chance of raising rates in September, to continue purporting “economic strength” and “inflation fears” – particularly now that their own big mouths have catalyzed what could be the start of a significant market correction. To that end, Jim Rickards boldly predicted, yesterday, that by then, Whirlybird Janet will have already experienced the “ding dong, the Fed is dead” moment that must inevitably arrive; when she is forced – not by declining economic data, which she’s been ignoring all year – but plunging financial markets, against the best efforts of the Fed’s “open market operations; to admit the economy is declining, and concede its “tightening” cycle is over after 21 months – of only raising rates to 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, and reducing its $4.5 trillion balance sheet by nary a penny.