Multiple Part-Time Jobs and Central Bank Lies

If anything, today's BLSBS reveals that the average US citizen is now working multiple, part-time jobs in a desperate attempt to make ends meet. And this "robust economy" that is "near full employment" is the supposed rationale for the Federal Reserve to raise the Fed Funds rate as soon as next month. What a perverted lie and scam this all is!

But we all knew there wasn't going to be a rate hike in November anyway and December is at worst 50/50. Today's "jobs report" only confirmed that: http://www.zerohedge.com/news/2016-10-07/fed-whispererr-hilenrath-kills-november-rate-hike-hopes-plays-down-december-too

However, let's get back to the internals of the BLSBS because I want you to stew on this for a while. We're told through and endless barrage of analysis, punditry and jawboning that The Fed will soon embark on a series of FF rate hikes...primarily because the US job market is so strong that it is near full employment. The thought goes that this will increase pressure to raise wages and, thus, spark inflation.

But below are the two most-important charts you'll see all day. Taken from the BLSBS data, note that the number of US citizens working multiple jobs is at the highest level since 2008 and that the only "growth" in jobs is coming from part-time positions.

This means exactly what you think it means. The Average Joe/Josie, having lost a high-quality full-time job due to downsizing or Obamacare or whatever has been forced to work multiple, part-time jobs just to make ends meet. AND THIS IS THE ROBUST US ECONOMY THAT DEMANDS A RATE HIKE! If anything should prove to you that:

  • Fed policy since at least 2008 is a complete disaster
  • The Fed does NOT work for the average citizen
  • The Fed, instead, does what its owner Banks want

This should do it! What more do you need to know? The lying, criminal Bankers DO NOT CARE about you, you neighbor or anyone outside of their Cabal. All that matters...and all they base their decisions upon...is what is the best course of action for the profitability and sustainability of the owner Banks! Period. End of story.

To that end, the Central Bankers seek to manage and manipulate ALL "markets" worldwide. Given the near impossibility of this task, the so-called regulators that work as pawns of this system look away as impassive, unconcerned observers as HFT the Central Bankers need instead dominate and destroy nearly everything. As an example, last evening the British Pound fell 5% in 5 seconds:

Why? How? That's easy. Again, with HFT, market depth and liquidity appears to be a mile wide. However, in reality, it's only one inch deep and bids or offers can be pulled at the speed of light. The result? Flash crashes...just like we saw last evening in the GBP.

And it is this same HFT that have led the exodus from paper gold and paper silver over the past 10 trading days. Once the 50-day MAs were taken out, the HFTs began to sell all rallies and bounces. Then, once the 100-day MAs were smashed, the outright dumping and liquidation began. Since Tuesday, September 27, when The Banks raided price to smash it through the 50-day, gold has fallen over $80 or about 7%. Over the same time period, total Comex gold open interest has fallen by 89,000 contracts or about 15%. Do you see how this works?

So now, if you want paper gold and silver to go back higher, you need the HFTs to start buying those derivatives again. What will inspire them to do that? The same old, same old...falling interest rates and a sinking USDJPY. Though this trend in those two key inputs will, NO DOUBT, re-assert itself soon, in the meantime, we're left with no choice but to deal with the ongoing fallout of the recent "correction".

Since Tuesday's smash of the 100-day, the only thing we've cared about is whether or not price will manage to hold and close above the 200-day later today. After reaching a post-BLSBS high of $1267 earlier, "gold" is back to $1257 as I type. And where is the 200-day moving average for the Dec16 contract? It's near $1261. See below while asking yourself if it really matters:

So, here we are again. We all get excited when the HFT-discovered, Comex-derivative, US dollar-priced gold print goes up...and we all get depressed when it gets smashed back lower. But why does it even freaking matter at this point? Oh sure, for some of us, the impact this has on "investments" like mining shares is quite detrimental. However, in the long run, do the past two weeks of HFT and Cartel Bank bullshit somehow make gold and silver less valuable for the protection/security reasons for which you bought them in the first place? OF COURSE NOT!

Look, EVERYTHING now is based upon lies, bullshit and illusions. EVERYTHING. Your choice is to either get caught up in the nonsense...like believing that the daily movements of the paper-derivative "gold price" are somehow directly related to the value and fundamentals of physical gold...or you can use your wisdom, understanding and experience to your advantage. Can you take what you've learned here and parlay this knowledge into an even greater level of protection and security from the events that are still, most assuredly, coming? And it's not just financial protection! This site also offers you a community of like-minded people who can educate you on personal and family protection, too. This is all advice that needs to be heeded! A world that is built upon a foundation of dishonesty, fraud and outright LIES cannot and will not last.

And again, just how pervasive is the criminality? Here's just your latest example. Jon Corzine stole nearly $3B from account holders at MFGlobal five years ago when he used customer funds in a desperate attempt to stave off bankruptcy due to his mismanagement of the company. For this CRIME, Mr. Corzine has never been prosecuted nor has he served any jail time. Instead, today we learn that Corzine is in talks to settle his liability with "the government" for just $5,000,000. Now that's a lot of money to me and you but it's peanuts for someone like The Criminal Corzine. How does a scoundrel like this skate and escape the arcane notion of "justice"? What's that they say about a picture and a thousand words? Well, here are 2,000 words:

So, we'll continue to monitor the paper price as we search for opportune times to add to our personal stacks of wealth. But, please, you must understand that the world is not what you're led to believe and the current financial system is rigged in favor of The Bankers at your expense. Until this system collapses under the sheer weight of the accumulated fraud and deceit, your only winning move is opt out of the paper games and continue to prepare accordingly for the day of reckoning that is, without question, headed our way.

TF

www.tfmetalsreport.com/subscribe

188 Comments

@VikingKing6's picture

Furst

As the bullion banks crush "gold" back below the 200 day MA, Psalm 73 seems particularly appropriate.  In a world seemingly devoid of justice (Hillary, Corzine, etc. etc.), it is comforting to know that there WILL be justice - either in this world or in the next.  I was an MF Global account holder, it was then that I learned that my money with brokers isn't really mine.  Scary stuff.  Great time to stack. GLTA

Psalm 73

1 Surely God is good to Israel, to those who are pure in heart.

2 But as for me, my feet had almost slipped; I had nearly lost my foothold.
3 For I envied the arrogant when I saw the prosperity of the wicked.

4 They have no struggles; their bodies are healthy and strong.
5 They are free from common human burdens; they are not plagued by human ills.
6 Therefore pride is their necklace; they clothe themselves with violence.
7 From their callous hearts comes iniquity; their evil imaginations have no limits.
8 They scoff, and speak with malice; with arrogance they threaten oppression.
9 Their mouths lay claim to heaven, and their tongues take possession of the earth.
10 Therefore their people turn to them and drink up waters in abundance.
11 They say, “How would God know? Does the Most High know anything?”

12 This is what the wicked are like—always free of care, they go on amassing wealth.

13 Surely in vain I have kept my heart pure and have washed my hands in innocence.
14 All day long I have been afflicted, and every morning brings new punishments.

15 If I had spoken out like that, I would have betrayed your children.
16 When I tried to understand all this, it troubled me deeply
17 till I entered the sanctuary of God; then I understood their final destiny.

18 Surely you place them on slippery ground; you cast them down to ruin.
19 How suddenly are they destroyed, completely swept away by terrors!
20 They are like a dream when one awakes; when you arise, Lord,
    you will despise them as fantasies.

21 When my heart was grieved and my spirit embittered,
22 I was senseless and ignorant; I was a brute beast before you.

23 Yet I am always with you; you hold me by my right hand.
24 You guide me with your counsel, and afterward you will take me into glory.
25 Whom have I in heaven but you? And earth has nothing I desire besides you.
26 My flesh and my heart may fail, but God is the strength of my heart and my portion forever.

27 Those who are far from you will perish; you destroy all who are unfaithful to you.
28 But as for me, it is good to be near God. I have made the Sovereign Lord my refuge;
    I will tell of all your deeds.

ChaCha Mars's picture

2nd! Cobble together part-time jobs or start your own?

Craig, thank you for this post!

During the industrialization and de-agriculturalization of America, most of us forgot the independence that brought our forebearers here, got lazy and accepted 9-5 jobs.  Now with de-industrialization about done, more and more around us are starting up their own little businesses.  Both of our children and their spouses all work as independent contractors and both families already have paid off their mortgages.

Running your own business however large or small is hard!

My dad opened his own shop and the braver among his fellow WWII returnees, watching his success, often turned to him for guidance.  I never will forget the guy who'd come back from the European Theater with a steel plate in his skull; after months of talking about it one Sunday after church told Dad he'd finally opened his own insurance agency.  I never will forget his next line: "That floor sure is cold at six in the morning."  I was probably not more than 6 or 8 at the time and still remember the exchange like it was yesterday.  The man's wife had contracted polio and was I think in an iron lung; their daughter my age became the family's  little mother and made their evening meal, etc. 

This was in an oil town and the difference between the corporate boys and the wildcatters was obvious to me even in high school.  

As 9-5 jobs continue to disappear it is my hope and prayer we as a nation will remember how to do for ourselves -- and help each other as we are able.  

argentuman's picture

Numero Dos

Now to read

ArtL's picture

today we get the middle finger chart pattern

I guess that is better than the barfing camel.

twippers's picture

Last

I HATE the Fed and the Banks.  Dirty, f'ing criminals.

argentuman's picture

Was Dos

Now Thurd

LostMind's picture

A dream of an interview

Molyneux and Ann Coulter!!!! Very interesting interviewangel

MoonShiv's picture

My first 7th

On a BLSBS day

Danforth Coxwell's picture

Top 10…..

Go Jay's Go!!!!!!

canary's picture

Greenspan, Bernanke, Yellen, Fischer, .........

"I swear to tell the truth, the whole truth, and nothing but the truth..." wink

Marcus's picture

Abandonment and betrayal

canary's picture

Inflation?...maybe

From The 5 Minute Forecast..."According to the United Nations Food and Agriculture Organization, global food prices leaped 2.9% in August and 10% year over year".

onesong's picture

Time to crush PM before Ghina...

get's back in the game... down down they gooooo...

tyberious's picture

People’s Bank Of China Adds

People’s Bank Of China Adds Five Tons of Gold To Reserves in September

https://smaulgld.com/peoples-bank-china-adds-five-tons-gold-reserves-september/

Iceberg Slim's picture

Gold puke..

spiking down hard..last of $1241.

on no news??

Turd Ferguson's picture

As price is pounded again regardless of news or fundamentals

MODERATOR

Recall that, earlier this week, we discussed this chart from 2015. Silver (and gold) was similarly pounded in November of last year as "the market" anticipated the December rate hike and it bottomed well before the actual event.

ReachWest's picture

Incredible Awesomeness!

Wow .. Paper Gold price looking awesome!! LOL. What a joke. 

canary's picture

Must be S. Fischer...

          What did he say?

ReachWest's picture

Fun

And .. Just for fun .. (Yeah .. I know the Shanghai price is a week old .. wonder if this week's price drop has anything to do with the fact that China is on holiday all week? Hmm. ASIDE: Who the heck closes the markets for a week? Maybe we'll all experience that soon too.)

Turd Ferguson's picture

It seems that today

MODERATOR

The gold HFTs are tracking bonds rather than USDJPY....whatever it takes to move gold lower and lower. And why are rates higher? Not because of the data. It's all 100% Fed Goon jawboning.

JQuest's picture

@ As price is pounded again regardless of news or fundamentals

I think that's because economic bad new increases the odds for more QE and we all know how Wall Street loves QE and see's it as good news!

Welcome to the Rabbit Hole where up is down and good is bad...wink

Something's gunna blow...

Turd Ferguson's picture

And then we have this, too

MODERATOR
Jihk2431's picture

Thank you Viking - calms and soothes ones soul to

remember how short life is and how important it is to hold onto what's solid, good and comforting.  I appreciate you sharing this.

tyberious's picture

LAWRIE WILLIAMS: How long for

LAWRIE WILLIAMS: How long for gold market to be controlled by paper gold non-transactions?

http://news.sharpspixley.com/article/lawrie-williams-how-long-for-gold-market-to-be-controlled-by-paper-gold-non-transactions/257638/

silverflower's picture

Early next week

is gonna be shopping time, dudes. I've got some Moolah left, will grab me some 50 ounces of shiny silver. Adding to my stash. 

My fellows Turdites, I wish you all a good weekend. Greetings from Germany (or what is left from it), fall is coming, I just fired up the chimney to warm my cold bones.

@VikingKing6's picture

Middle Finger on Gold 15 min chart today

Incredible how easy it is for them. Right before crash.

Joseph Warren's picture

Terrific Post Turd

Great summary of what has been going on, the absolute criminality of the whole system. 

Many of us have come to the realization that there is no fix available from within the crooks' system (financial, economic, political, legal, media). They own it. It does what it was designed to do. Why would the psychopath money junkies voluntarily take down their own Ponzi fraud ?  Bankster Paul Volcker pulled the plug back in the day, they didn't  want to completely kill off their 'Golden Goose'. But that goose isn't bullion, - it's us. The people who the oligarchs see as livestock to be 'farmed'. They hit a keyboard and create fiat, and then use their fraud to steal/harvest  our real wealth & labor. 

Just quite possibly, Humanity is at a cross roads where more of us are seeing through the massive fraud & illusion that has governed so much of our lives. Who knows where this will take us. Personally, I'm quite optimistic about the long term future. This scam has been going on for a very long time. Perhaps now it is seriously threatened.

In the meantime, we stack & prepare as best we can.  - JW

Turd Ferguson's picture

Freaking classic

MODERATOR

Anyone want to tell us again about how trustworthy this guy is?

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